West Virginia has the lowest median home price of any state in the nation at approximately $170,000 — making it the most affordable state for homebuyers by purchase price. Combined with a low property tax rate of 0.59% and reasonable homeowners insurance, West Virginia's monthly mortgage costs are lower than virtually any other state. Morgantown, home to West Virginia University, is the state's most dynamic housing market, while Charleston and Huntington offer deep urban affordability.
Calculate Your Monthly Payment
$
Select a program to apply FHA/VA/USDA rules.
Funding fee is often financed into the loan.
$
20.0% of home price
%
%
$
Used to estimate potential Year‑2 escrow shock if taxes reset after purchase.
$
%
Used for Conventional PMI estimates and FHA minimum down rules
$
$
Extra payments reduce balance faster and can end PMI sooner.
Total Monthly Payment
$0
Principal & Interest • Tax • Insurance • PMI • HOA
Principal & Interest
—
Property Tax
—
Insurance
—
PMI
—
HOA
—
Loan Amount
—
Upfront Fee (financed)
—
Principal & Interest
Property Tax
Home Insurance
PMI
Total Interest Paid
—
Total Principal + Interest
—
Year‑2 Payment Shock (Property Tax Reassessment)
Year‑1 property tax
—
Year‑2 estimate
—
Change
—
Note: This is an estimate. Tax timing, exemptions, and escrow rules vary by county and lender. Always verify with your county assessor and your lender’s escrow analysis.
Extra Payment Savings
New Payoff Time
—
Interest Saved
—
Time Saved
—
Year
Principal
Interest
Balance
Disclaimer: Results shown are estimates for educational purposes only and do not constitute financial, tax, legal, or investment advice. Actual payments vary based on lender, credit score, loan type, and local assessments. Consult a licensed mortgage professional for your specific situation.
West Virginia Mortgage Calculator Guide
Buying a home in West Virginia requires understanding local costs. The median home price in the state sits around $170,000, which means your down payment and loan amount will heavily dictate your monthly expenses. Because West Virginia has an average property tax rate of 0.59%, factoring this into your monthly mortgage payment is essential for an accurate budget.
Beyond principal and interest, homeowners insurance in West Virginia averages $1,200 per year. Local weather risks and property age can push this number higher. By using our pre-loaded local averages, you get a realistic view of your true housing costs rather than just a basic principal calculation.
If you put down less than 20%, you will also need to pay Private Mortgage Insurance (PMI). Adjust the down payment field above to see exactly how your PMI drops off once you reach that 20% equity threshold in West Virginia.
West Virginia's average property tax rate of 0.59% is well below the national average of 1.07%. Property is assessed at 60% of appraised value in West Virginia before the levy rate is applied, which further reduces the taxable base. The state offers a Homestead Exemption that reduces assessed value by $20,000 for primary residences owned by those 65 and older or permanently disabled. On a $170,000 home, annual property taxes average approximately $1,003 — among the lowest annual tax bills in the country.
Frequently Asked Questions
West Virginia has the lowest median home price in the United States at approximately $170,000. Charleston averages around $165,000, Huntington near $145,000, and Morgantown is the outlier at approximately $235,000 due to university demand. West Virginia offers the absolute lowest entry cost to homeownership of any US state.
West Virginia's average property tax rate is 0.59%, well below the national average. Property is assessed at 60% of appraised value before levy rates apply. On a $170,000 home, annual taxes average approximately $1,003 — among the lowest in the nation in absolute dollar terms.
The West Virginia Housing Development Fund (WVHDF) offers the Movin' Up program with competitive mortgage rates, a Homeownership Program for first-time buyers, and Down Payment and Closing Cost Assistance. Income and purchase price limits apply and homebuyer education is required.
West Virginia offers exceptional cash-flow potential due to very low acquisition costs relative to rental income. However, long-term appreciation has been limited and the state faces population decline in many counties. The Eastern Panhandle (proximity to D.C.) and Morgantown (WVU) are the most compelling markets for appreciation potential. Remote work has begun to attract buyers from Northern Virginia discovering West Virginia's extreme affordability.
🍪 We use cookies only for analytics (Google Analytics, when enabled) and advertising (Google AdSense). No personal data is collected or sold. Cookie PolicyPrivacy Policy