West Virginia Mortgage Calculator
The median home price in West Virginia is $155,000. With a 20% down payment at the state's average 30-year fixed rate of 7.2%, your estimated all-in monthly payment (principal, interest, taxes, and insurance) is approximately $1,010. West Virginia's property tax rate of 0.59% annually is below the U.S. national average of 1.07%.
A buyer earning West Virginia's median household income of $52,000 would dedicate roughly 23% of gross monthly income to housing — considered affordable by the standard 28% guideline.
Median Home Price
$155,000
Avg 30-yr Rate
7.2%
Property Tax Rate
0.59%/yr
Est. Monthly PITI
$1,010
Mortgage Calculator
Total Monthly Payment
$1,009.61
Loan Amount
$124,000
Total Paid
$303,011
Total Interest
$179,011
How to Get a Mortgage in West Virginia
- 1 Check your credit score. In West Virginia, most conventional lenders require 620+; FHA allows 580+ with 3.5% down.
- 2 Save for your down payment. On a $155,000 West Virginia home, 20% down is $31,000 — avoiding PMI and reducing your monthly payment.
- 3 Get pre-approved from 2–3 lenders. Rates in West Virginia average 7.2%, but shopping lenders often saves 0.25–0.5%.
- 4 Account for closing costs — typically 2–5% of the loan amount, or $3,720–$6,200 on a median West Virginia purchase.
- 5 Budget for ongoing costs: West Virginia property taxes average 0.59%/yr ($915/yr on the median home), plus homeowner's insurance averaging $1.100/yr.
Monthly Cost Breakdown — Median West Virginia Home
Excludes HOA fees, PMI (not required with 20% down), and utilities.
West Virginia Mortgage FAQs
What is the average home price in West Virginia?
The median home price in West Virginia is $155,000 (2024 estimate). With a typical 20% down payment of $31,000, a buyer would finance $124,000 at a 30-year fixed rate.
What are property taxes like in West Virginia?
West Virginia has an average effective property tax rate of 0.59% of assessed home value. On a $155,000 home, that's approximately $915 per year ($76/month) — below the national average of 1.07%.
How much income do I need to buy a home in West Virginia?
To keep housing costs at or below the recommended 28% of gross monthly income on a median-priced West Virginia home, you'd need to earn roughly $43,267 per year. The state's median household income is $52,000, meaning the typical household allocates about 23% of gross income to housing — considered affordable.
What is the average mortgage rate in West Virginia?
The average 30-year fixed mortgage rate in West Virginia is approximately 7.2% (2024 average). Rates vary by lender, credit score, loan-to-value ratio, and loan type. Borrowers with credit scores above 740 typically qualify for the best available rates.
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