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 | Lincoln County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $105,903 | $94,066 | $242,182 |
| Price Trend (Annual %) | 119.0% | 1.9% | 8.2% |
| Median Gross Rent | $726 | $849 | $1,342 |
| Rent Trend (Annual %) | 5.8% | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lincoln County is about 13% higher than in West Virginia. Rent is about 14% lower than the West Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2022
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Lincoln County, up about 119.0% and 5.8% a year respectively. Home prices are changing faster.
Median rent in Lincoln County rose about 38.8% between 2015 and 2023, from $523 to $726. Over the same span, rent in West Virginia rose about 32.2%.
Affordability
On average, housing unit costs 2.2 yearly household incomes in Lincoln County.
Buying the median-priced home in Lincoln County costs roughly 12.2 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lincoln County. The price-to-rent ratio in West Virginia is about 9.2.
| Metric | Lincoln County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $105,903 | $94,066 | $242,182 |
| Median Household Income | $48,285 | $57,886 | $78,145 |
| Price-to-Income Ratio | 2.2 | 1.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2022, the median home price in Lincoln County rose about 3.2%, while median household income rose about 64.8% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lincoln County | West Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.9% | 62.4% | 58.2% |
| Rental Rate | 20.6% | 21.6% | 31.3% |
| Vacancy Rate | 18.5% | 16.1% | 10.6% |
| Median Tenure (years) | 21.0 | 18.0 | 15.0 |
| Median Year Moved In | 2005 | 2008 | 2011 |
Lincoln County has a homeownership rate of 60.9%, lower than the West Virginia average of 62.4%. Its housing vacancy rate is 18.5%, compared with 16.1% in West Virginia.
Housing Stock
| Metric | Lincoln County | West Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.57 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1981 | 1974 | 1978 |
| Median Number of Rooms | 6.0 | 5.9 | 5.5 |
The typical housing unit in Lincoln County was built around 1981. On average, 2.6 people live in a home with about 6.0 rooms, staying for about 21.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lincoln County, West Virginia.
What is the median home price in Lincoln County, West Virginia?
The median home price in Lincoln County, West Virginia is $105,903, higher than the West Virginia average of $94,066.
What is the average home price in Lincoln 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 Lincoln County, West Virginia?
The median gross rent in Lincoln County, West Virginia is $726 per month, lower than the West Virginia average of $849.
What was the median gross rent in Lincoln County in 2020?
In 2020, the median gross rent in Lincoln County, West Virginia was $631 per month.
What is the price-to-rent ratio in Lincoln County, West Virginia?
The price-to-rent ratio in Lincoln County, West Virginia is about 12.2, meaning it would take roughly 12.2 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lincoln County.
Are home prices or rent rising faster in Lincoln County, West Virginia?
Both home prices and rent are rising in Lincoln County, up about 119.0% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lincoln County, West Virginia?
60.9% of households in Lincoln County, West Virginia own their home, lower than the West Virginia average of 62.4%.
What is the vacancy rate in Lincoln County, West Virginia?
The housing vacancy rate in Lincoln County, West Virginia is 18.5%, higher than the West Virginia average of 16.1%.