The typical owner-occupied home in Newell is worth about $88,100, 46% below the West Virginia median of $162,600 and 74% below the national median of $332,700. Owners pay a median $481 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 $60,278 a year, so the median home costs 1.5 times the median income (2.7 times for West Virginia). 60% of occupied homes here are lived in by their owners, and 39% of those owners still have a mortgage.
Newell at a glance
| Newell | West Virginia | U.S. | |
|---|---|---|---|
| Median home value | $88,100 | $162,600 | $332,700 |
| Median property tax paid per year | $481 | $865 | $3,119 |
| Property tax as a share of value | 0.55% | 0.53% | 0.94% |
| Median household income | $60,278 | $59,608 | $80,734 |
| Homes lived in by their owners | 60% | 75% | 65% |
| Owner homes with a mortgage | 39% | 46% | 61% |
| Median monthly costs, owners with a mortgage | $657 | $1,255 | $1,963 |
| Those costs as a share of the owners' income | 15.1% | 17.3% | 21.0% |
| Median rent | $915 | $872 | $1,413 |
| Rent as a share of renters' income | 19.9% | 29.4% | 30.6% |
| Median year homes were built | 1955 | 1976 | 1980 |
| Vacant homes | 6.6% | 15.4% | 10.1% |
| Population | 1,246 | 1,778,373 | 334,922,499 |
What a typical home costs per month in Newell
At this week's average 30-year rate of 7.11%, buying the median Newell home of $88,100 with 20% down costs about $551 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $698, 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 $23,623 for the 20%-down payment. That payment is 11% of the median Newell household income of $60,278; at that income and 20% down, the 28% guideline points to a home of about $225,000.
The median rent here is $915 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $17,620 |
|---|---|
| Loan amount | $70,480 |
| Principal and interest | $474 |
| Property taxes (0.55% a year) | $40 |
| Homeowners insurance (our estimate, 0.5% a year) | $37 |
| PMI | $0 |
| Total per month | $551 |
Change the numbers in the calculator
| Down payment | $3,084 |
|---|---|
| Loan amount | $86,504 |
| Principal and interest | $582 |
| Property taxes (0.55% a year) | $40 |
| Homeowners insurance (our estimate, 0.5% a year) | $37 |
| FHA mortgage insurance | $39 |
| Total per month | $698 |
Change the numbers in the calculator
Questions about home buying in Newell
What is the median home value in Newell?
About $88,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Newell?
Homeowners pay a median $481 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 Newell?
For the median home with 20% down at 7.11%, the payment is about $551 a month. Keeping that under 28% of gross income takes about $23,623 a year.
More about Newell
- Mortgage Refinance in Newell
- Debt Relief in Newell
- Home Equity Loans in Newell
- 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