The typical owner-occupied home in Thomas is worth about $157,400, 3% below the West Virginia median of $162,600 and 53% below the national median of $332,700. Owners pay a median $534 a year in property taxes, about 0.34% of their home's value, lower than the West Virginia rate of 0.53%. The median household earns $56,042 a year, so the median home costs 2.8 times the median income (2.7 times for West Virginia). 58% of occupied homes here are lived in by their owners, and 50% of those owners still have a mortgage.
Thomas at a glance
| Thomas | West Virginia | U.S. | |
|---|---|---|---|
| Median home value | $157,400 | $162,600 | $332,700 |
| Median property tax paid per year | $534 | $865 | $3,119 |
| Property tax as a share of value | 0.34% | 0.53% | 0.94% |
| Median household income | $56,042 | $59,608 | $80,734 |
| Homes lived in by their owners | 58% | 75% | 65% |
| Owner homes with a mortgage | 50% | 46% | 61% |
| Median monthly costs, owners with a mortgage | $867 | $1,255 | $1,963 |
| Those costs as a share of the owners' income | 19.4% | 17.3% | 21.0% |
| Median rent | $792 | $872 | $1,413 |
| Rent as a share of renters' income | 17.7% | 29.4% | 30.6% |
| Median year homes were built | 1951 | 1976 | 1980 |
| Vacant homes | 30.9% | 15.4% | 10.1% |
| Population | 599 | 1,778,373 | 334,922,499 |
What a typical home costs per month in Thomas
At this week's average 30-year rate of 7.11%, buying the median Thomas home of $157,400 with 20% down costs about $957 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,219, 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 $41,025 for the 20%-down payment. That payment is 20% of the median Thomas household income of $56,042; at that income and 20% down, the 28% guideline points to a home of about $215,000.
The median rent here is $792 a month, so owning the median home costs about $165 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $31,480 |
|---|---|
| Loan amount | $125,920 |
| Principal and interest | $847 |
| Property taxes (0.34% a year) | $45 |
| Homeowners insurance (our estimate, 0.5% a year) | $66 |
| PMI | $0 |
| Total per month | $957 |
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| Down payment | $5,509 |
|---|---|
| Loan amount | $154,549 |
| Principal and interest | $1,040 |
| Property taxes (0.34% a year) | $45 |
| Homeowners insurance (our estimate, 0.5% a year) | $66 |
| FHA mortgage insurance | $70 |
| Total per month | $1,219 |
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Questions about home buying in Thomas
What is the median home value in Thomas?
About $157,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Thomas?
Homeowners pay a median $534 a year, which is about 0.34% 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 Thomas?
For the median home with 20% down at 7.11%, the payment is about $957 a month. Keeping that under 28% of gross income takes about $41,025 a year.
More about Thomas
- Mortgage Refinance in Thomas
- Debt Relief in Thomas
- Home Equity Loans in Thomas
- 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