The typical owner-occupied home in Morgantown is worth about $259,400, 60% above the West Virginia median of $162,600 and 22% below the national median of $332,700. Owners pay a median $1,301 a year in property taxes, about 0.50% of their home's value, lower than the West Virginia rate of 0.53%. The median household earns $44,727 a year, so the median home costs 5.8 times the median income (2.7 times for West Virginia). 44% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Morgantown at a glance
| Morgantown | West Virginia | U.S. | |
|---|---|---|---|
| Median home value | $259,400 | $162,600 | $332,700 |
| Median property tax paid per year | $1,301 | $865 | $3,119 |
| Property tax as a share of value | 0.50% | 0.53% | 0.94% |
| Median household income | $44,727 | $59,608 | $80,734 |
| Homes lived in by their owners | 44% | 75% | 65% |
| Owner homes with a mortgage | 53% | 46% | 61% |
| Median monthly costs, owners with a mortgage | $1,490 | $1,255 | $1,963 |
| Those costs as a share of the owners' income | 14.2% | 17.3% | 21.0% |
| Median rent | $937 | $872 | $1,413 |
| Rent as a share of renters' income | 40.7% | 29.4% | 30.6% |
| Median year homes were built | 1966 | 1976 | 1980 |
| Vacant homes | 13.9% | 15.4% | 10.1% |
| Population | 30,236 | 1,778,373 | 334,922,499 |
What a typical home costs per month in Morgantown
At this week's average 30-year rate of 7.11%, buying the median Morgantown home of $259,400 with 20% down costs about $1,612 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,044, 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 $69,093 for the 20%-down payment. That payment is 43% of the median Morgantown household income of $44,727; at that income and 20% down, the 28% guideline points to a home of about $168,000.
The median rent here is $937 a month, so owning the median home costs about $675 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $51,880 |
|---|---|
| Loan amount | $207,520 |
| Principal and interest | $1,396 |
| Property taxes (0.50% a year) | $108 |
| Homeowners insurance (our estimate, 0.5% a year) | $108 |
| PMI | $0 |
| Total per month | $1,612 |
Change the numbers in the calculator
| Down payment | $9,079 |
|---|---|
| Loan amount | $254,702 |
| Principal and interest | $1,713 |
| Property taxes (0.50% a year) | $108 |
| Homeowners insurance (our estimate, 0.5% a year) | $108 |
| FHA mortgage insurance | $115 |
| Total per month | $2,044 |
Change the numbers in the calculator
Questions about home buying in Morgantown
What is the median home value in Morgantown?
About $259,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Morgantown?
Homeowners pay a median $1,301 a year, which is about 0.50% 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 Morgantown?
For the median home with 20% down at 7.11%, the payment is about $1,612 a month. Keeping that under 28% of gross income takes about $69,093 a year.
More about Morgantown
- Mortgage Refinance in Morgantown
- Debt Relief in Morgantown
- Home Equity Loans in Morgantown
- 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