Home Values in Morgantown, West Virginia — 2026 Market Report
Updated March 2026 | Balanced Market | +3.1% YoY
The median home value in Morgantown, West Virginia is $245,000 as of March 2026, which is below the national median of $400,000. Home values in Morgantown have increased by 3.1% over the past year and 16.5% over the last five years. With a population of 30,855 and a median household income of $42,250, the price-to-income ratio stands at 5.8x, making Morgantown affordable for the average household.
Morgantown Housing Market Conditions
| Metric | Morgantown | National Avg |
|---|---|---|
| Median Home Value | $245,000 | $400,000 |
| YoY Appreciation | +3.1% | +3.8% |
| 5-Year Appreciation | +16.5% | +22.4% |
| Price per Sq Ft | $62 | $222 |
| Days on Market | 74 days | 45 days |
| Months of Supply | 3.4 | 3.5 |
| List-to-Sale Ratio | 100.2% | 98.5% |
| Monthly Homes Sold | 20 | — |
| Foreclosure Rate | 0.43% | 0.3% |
Home Value Trends in Morgantown
A homeowner who purchased at the median price of $210,300 five years ago in Morgantown would have gained approximately $34,700 in equity, representing a 16.5% return on investment. Over the past year alone, the typical homeowner gained $7,367 in home equity.
Affordability in Morgantown, WV
With a median household income of $42,250 and a median home price of $245,000, the price-to-income ratio in Morgantown is 5.8x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $1,741 compared to estimated monthly ownership costs of $1,282 gives a rent-vs-buy ratio of 0.74. In Morgantown, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Morgantown
The effective property tax rate in West Virginia is 0.58%. On a home valued at $245,000, the estimated annual property tax bill is $1,421, or approximately $118/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Morgantown is 90.5 (100 = national average), indicating living costs are below the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Morgantown, WV?
The median home value in Morgantown, West Virginia is $245,000 as of March 2026. Home values have changed +3.1% over the past year, with a 5-year appreciation of 16.5%.
Is Morgantown a buyer's or seller's market?
Morgantown is currently a balanced market with 3.4 months of housing supply. Homes spend an average of 74 days on market, and the list-to-sale price ratio is 100.2%. Supply and demand are relatively balanced.
Are home values going up in Morgantown?
Yes, home values in Morgantown have increased by 3.1% over the past year. The 5-year appreciation rate is 16.5%, meaning a home worth $210,300 five years ago is now worth $245,000.
Is it better to rent or buy in Morgantown?
The average monthly rent in Morgantown is $1,741, while estimated monthly homeownership costs are approximately $1,282. The price-to-rent ratio is 11.7. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for Morgantown, West Virginia is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.