The typical owner-occupied home in Flatwoods is worth about $145,800, 10% below the West Virginia median of $162,600 and 56% below the national median of $332,700. Owners pay a median $688 a year in property taxes, about 0.47% of their home's value, lower than the West Virginia rate of 0.53%. The median household earns $53,625 a year, so the median home costs 2.7 times the median income (2.7 times for West Virginia). 65% of occupied homes here are lived in by their owners, and 30% of those owners still have a mortgage.
Flatwoods at a glance
| Flatwoods | West Virginia | U.S. | |
|---|---|---|---|
| Median home value | $145,800 | $162,600 | $332,700 |
| Median property tax paid per year | $688 | $865 | $3,119 |
| Property tax as a share of value | 0.47% | 0.53% | 0.94% |
| Median household income | $53,625 | $59,608 | $80,734 |
| Homes lived in by their owners | 65% | 75% | 65% |
| Owner homes with a mortgage | 30% | 46% | 61% |
| Median monthly costs, owners with a mortgage | $1,292 | $1,255 | $1,963 |
| Those costs as a share of the owners' income | 23.3% | 17.3% | 21.0% |
| Median rent | $728 | $872 | $1,413 |
| Rent as a share of renters' income | 17.5% | 29.4% | 30.6% |
| Median year homes were built | 1970 | 1976 | 1980 |
| Vacant homes | 16.9% | 15.4% | 10.1% |
| Population | 319 | 1,778,373 | 334,922,499 |
What a typical home costs per month in Flatwoods
At this week's average 30-year rate of 7.11%, buying the median Flatwoods home of $145,800 with 20% down costs about $902 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,145, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $38,679 for the 20%-down payment. That payment is 20% of the median Flatwoods household income of $53,625; at that income and 20% down, the 28% guideline points to a home of about $202,000.
The median rent here is $728 a month, so owning the median home costs about $174 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $29,160 |
|---|---|
| Loan amount | $116,640 |
| Principal and interest | $785 |
| Property taxes (0.47% a year) | $57 |
| Homeowners insurance (our estimate, 0.5% a year) | $61 |
| PMI | $0 |
| Total per month | $902 |
Change the numbers in the calculator
| Down payment | $5,103 |
|---|---|
| Loan amount | $143,159 |
| Principal and interest | $963 |
| Property taxes (0.47% a year) | $57 |
| Homeowners insurance (our estimate, 0.5% a year) | $61 |
| FHA mortgage insurance | $64 |
| Total per month | $1,145 |
Change the numbers in the calculator
Questions about home buying in Flatwoods
What is the median home value in Flatwoods?
About $145,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Flatwoods?
Homeowners pay a median $688 a year, which is about 0.47% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Flatwoods?
For the median home with 20% down at 7.11%, the payment is about $902 a month. Keeping that under 28% of gross income takes about $38,679 a year.
More about Flatwoods
- Mortgage Refinance in Flatwoods
- Debt Relief in Flatwoods
- Home Equity Loans in Flatwoods
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data