Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Berkeley County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $264,062 | $94,066 | $242,182 |
| Price Trend (Annual %) | 12.2% | 1.9% | 8.2% |
| Median Gross Rent | $1,237 | $849 | $1,342 |
| Rent Trend (Annual %) | 4.1% | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Berkeley County is about 181% higher than in West Virginia. Rent is about 46% higher than the West Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Berkeley County, up about 12.2% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Berkeley County rose about 34.7% between 2015 and 2023, from $919 to $1,237. Over the same span, rent in West Virginia rose about 32.2%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in Berkeley County.
Buying the median-priced home in Berkeley County costs roughly 17.8 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Berkeley County. The price-to-rent ratio in West Virginia is about 9.2.
| Metric | Berkeley County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $264,062 | $94,066 | $242,182 |
| Median Household Income | $78,476 | $57,886 | $78,145 |
| Price-to-Income Ratio | 3.4 | 1.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Berkeley County rose about 145.5%, while median household income rose about 48.4% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Berkeley County | West Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.9% | 62.4% | 58.2% |
| Rental Rate | 23.1% | 21.6% | 31.3% |
| Vacancy Rate | 6.0% | 16.1% | 10.6% |
| Median Tenure (years) | 14.0 | 18.0 | 15.0 |
| Median Year Moved In | 2012 | 2008 | 2011 |
Berkeley County has a homeownership rate of 70.9%, higher than the West Virginia average of 62.4%. Its housing vacancy rate is 6.0%, compared with 16.1% in West Virginia.
Housing Stock
| Metric | Berkeley County | West Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.53 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1990 | 1974 | 1978 |
| Median Number of Rooms | 6.1 | 5.9 | 5.5 |
The typical housing unit in Berkeley County was built around 1990. On average, 2.5 people live in a home with about 6.1 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Berkeley County, West Virginia.
What is the median home price in Berkeley County, West Virginia?
The median home price in Berkeley County, West Virginia is $264,062, higher than the West Virginia average of $94,066.
What is the average home price in Berkeley County, West Virginia?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Berkeley County, West Virginia?
The median gross rent in Berkeley County, West Virginia is $1,237 per month, higher than the West Virginia average of $849.
What was the median gross rent in Berkeley County in 2020?
In 2020, the median gross rent in Berkeley County, West Virginia was $1,028 per month.
What is the price-to-rent ratio in Berkeley County, West Virginia?
The price-to-rent ratio in Berkeley County, West Virginia is about 17.8, meaning it would take roughly 17.8 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Berkeley County.
Are home prices or rent rising faster in Berkeley County, West Virginia?
Both home prices and rent are rising in Berkeley County, up about 12.2% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Berkeley County, West Virginia?
70.9% of households in Berkeley County, West Virginia own their home, higher than the West Virginia average of 62.4%.
What is the vacancy rate in Berkeley County, West Virginia?
The housing vacancy rate in Berkeley County, West Virginia is 6.0%, lower than the West Virginia average of 16.1%.