The typical owner-occupied home in Elizabeth is worth about $87,400, 46% below the West Virginia median of $162,600 and 74% below the national median of $332,700. The median household earns $22,353 a year, so the median home costs 3.9 times the median income (2.7 times for West Virginia). 51% of occupied homes here are lived in by their owners, and 49% of those owners still have a mortgage.
Elizabeth at a glance
| Elizabeth | West Virginia | U.S. | |
|---|---|---|---|
| Median home value | $87,400 | $162,600 | $332,700 |
| Median property tax paid per year | – | $865 | $3,119 |
| Median household income | $22,353 | $59,608 | $80,734 |
| Homes lived in by their owners | 51% | 75% | 65% |
| Owner homes with a mortgage | 49% | 46% | 61% |
| Median monthly costs, owners with a mortgage | $1,090 | $1,255 | $1,963 |
| Those costs as a share of the owners' income | 15.6% | 17.3% | 21.0% |
| Median rent | $552 | $872 | $1,413 |
| Rent as a share of renters' income | 31.9% | 29.4% | 30.6% |
| Median year homes were built | 1978 | 1976 | 1980 |
| Vacant homes | 19.5% | 15.4% | 10.1% |
| Population | 564 | 1,778,373 | 334,922,499 |
What a typical home costs per month in Elizabeth
At this week's average 30-year rate of 7.11%, buying the median Elizabeth home of $87,400 with 20% down costs about $587 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $732, 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 $25,152 for the 20%-down payment. That payment is 32% of the median Elizabeth household income of $22,353; at that income and 20% down, the 28% guideline points to a home of about $78,000.
The median rent here is $552 a month, so owning the median home costs about $35 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $17,480 |
|---|---|
| Loan amount | $69,920 |
| Principal and interest | $470 |
| Property taxes (1.10% a year) | $80 |
| Homeowners insurance (our estimate, 0.5% a year) | $36 |
| PMI | $0 |
| Total per month | $587 |
Change the numbers in the calculator
| Down payment | $3,059 |
|---|---|
| Loan amount | $85,817 |
| Principal and interest | $577 |
| Property taxes (1.10% a year) | $80 |
| Homeowners insurance (our estimate, 0.5% a year) | $36 |
| FHA mortgage insurance | $39 |
| Total per month | $732 |
Change the numbers in the calculator
Questions about home buying in Elizabeth
What is the median home value in Elizabeth?
About $87,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Elizabeth?
For the median home with 20% down at 7.11%, the payment is about $587 a month. Keeping that under 28% of gross income takes about $25,152 a year.
More about Elizabeth
- Mortgage Refinance in Elizabeth
- Debt Relief in Elizabeth
- Home Equity Loans in Elizabeth
- 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