The typical owner-occupied home in Mount Hope is worth about $101,000, 38% below the West Virginia median of $162,600 and 70% below the national median of $332,700. Owners pay a median $558 a year in property taxes, about 0.55% of their home's value, close to the West Virginia rate of 0.53%. The median household earns $34,375 a year, so the median home costs 2.9 times the median income (2.7 times for West Virginia). 52% of occupied homes here are lived in by their owners, and 36% of those owners still have a mortgage.
Mount Hope at a glance
| Mount Hope | West Virginia | U.S. | |
|---|---|---|---|
| Median home value | $101,000 | $162,600 | $332,700 |
| Median property tax paid per year | $558 | $865 | $3,119 |
| Property tax as a share of value | 0.55% | 0.53% | 0.94% |
| Median household income | $34,375 | $59,608 | $80,734 |
| Homes lived in by their owners | 52% | 75% | 65% |
| Owner homes with a mortgage | 36% | 46% | 61% |
| Median monthly costs, owners with a mortgage | $1,070 | $1,255 | $1,963 |
| Those costs as a share of the owners' income | 16.5% | 17.3% | 21.0% |
| Median rent | $549 | $872 | $1,413 |
| Rent as a share of renters' income | 28.8% | 29.4% | 30.6% |
| Median year homes were built | 1951 | 1976 | 1980 |
| Vacant homes | 10.9% | 15.4% | 10.1% |
| Population | 1,504 | 1,778,373 | 334,922,499 |
What a typical home costs per month in Mount Hope
At this week's average 30-year rate of 7.11%, buying the median Mount Hope home of $101,000 with 20% down costs about $632 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $800, 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 $27,083 for the 20%-down payment. That payment is 22% of the median Mount Hope household income of $34,375; at that income and 20% down, the 28% guideline points to a home of about $128,000.
The median rent here is $549 a month, so owning the median home costs about $83 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $20,200 |
|---|---|
| Loan amount | $80,800 |
| Principal and interest | $544 |
| Property taxes (0.55% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $42 |
| PMI | $0 |
| Total per month | $632 |
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| Down payment | $3,535 |
|---|---|
| Loan amount | $99,171 |
| Principal and interest | $667 |
| Property taxes (0.55% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $42 |
| FHA mortgage insurance | $45 |
| Total per month | $800 |
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Questions about home buying in Mount Hope
What is the median home value in Mount Hope?
About $101,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Mount Hope?
Homeowners pay a median $558 a year, which is about 0.55% 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 Mount Hope?
For the median home with 20% down at 7.11%, the payment is about $632 a month. Keeping that under 28% of gross income takes about $27,083 a year.
More about Mount Hope
- Mortgage Refinance in Mount Hope
- Debt Relief in Mount Hope
- Home Equity Loans in Mount Hope
- 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