Current home values in West Virginia

Home values have been rising throughout West Virginia and are up 9.6% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $230,616, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.

Here's how that works in West Virginia: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $230,616 home at 3.33% would give a typical West Virginia homebuyer a monthly payment of $811, assuming a 20% down payment.

How the West Virginia housing market stacks up

Mother and son in sunflower field
ShannonCamille / Twenty20
Mother and son having fun in a sunflower field in West Virginia for the afternoon

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in West Virginia, they're predicted to rise 2.4%.

Homes right now are going on the market in West Virginia at a median price of $83 per square foot, versus $134 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

West Virginia home prices over the last 10 years

Year Avg. Price
2020* $107,072
2019 $97,688
2018 $95,067
2017 $92,225
2016 $89,308
2015 $86,683
2014 $83,092
2013 $81,475
2012 $79,300
2011 $79,458
2010 $80,108
2009 $80,883

*2020 price average through March 31, 2020.

How much for an average-sized home?

Here's what a 2,500-square-foot home in West Virginia is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2020* $208,240
2019 $175,000
2018 $175,000
2017 $165,000
2016 $162,500
2015 $160,000
2014 $150,000
2013 $145,000
2012 $140,000
2011 $145,000
2010 $145,000
2009 $142,500

*2020 price average through March 31, 2020.

About the Author

Doug Whiteman

Doug Whiteman

Editor-in-Chief

Doug Whiteman is the editor-in-chief of MoneyWise. He has been quoted by The Wall Street Journal, USA Today and CNBC.com and has been interviewed on Fox Business, CBS Radio and the syndicated TV show "First Business."