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 | Marshall County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $138,281 | $94,066 | $242,182 |
| Price Trend (Annual %) | 28.0% | 1.9% | 8.2% |
| Median Gross Rent | $823 | $849 | $1,342 |
| Rent Trend (Annual %) | 4.9% | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Marshall County is about 47% higher than in West Virginia. Rent is about 3% lower 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 Marshall County, up about 28.0% and 4.9% a year respectively. Home prices are changing faster.
Median rent in Marshall County rose about 42.5% between 2015 and 2023, from $577 to $823. Over the same span, rent in West Virginia rose about 32.2%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Marshall County.
Buying the median-priced home in Marshall County costs roughly 14.0 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 Marshall County. The price-to-rent ratio in West Virginia is about 9.2.
| Metric | Marshall County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $138,281 | $94,066 | $242,182 |
| Median Household Income | $60,218 | $57,886 | $78,145 |
| Price-to-Income Ratio | 2.3 | 1.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Marshall County rose about 308.1%, while median household income rose about 75.5% 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 | Marshall County | West Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.0% | 62.4% | 58.2% |
| Rental Rate | 17.8% | 21.6% | 31.3% |
| Vacancy Rate | 15.2% | 16.1% | 10.6% |
| Median Tenure (years) | 22.0 | 18.0 | 15.0 |
| Median Year Moved In | 2004 | 2008 | 2011 |
Marshall County has a homeownership rate of 67.0%, higher than the West Virginia average of 62.4%. Its housing vacancy rate is 15.2%, compared with 16.1% in West Virginia.
Housing Stock
| Metric | Marshall County | West Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.35 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1964 | 1974 | 1978 |
| Median Number of Rooms | 6.0 | 5.9 | 5.5 |
The typical housing unit in Marshall County was built around 1964. On average, 2.4 people live in a home with about 6.0 rooms, staying for about 22.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Marshall County, West Virginia.
What is the median home price in Marshall County, West Virginia?
The median home price in Marshall County, West Virginia is $138,281, higher than the West Virginia average of $94,066.
What is the average home price in Marshall 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 Marshall County, West Virginia?
The median gross rent in Marshall County, West Virginia is $823 per month, lower than the West Virginia average of $849.
What was the median gross rent in Marshall County in 2020?
In 2020, the median gross rent in Marshall County, West Virginia was $604 per month.
What is the price-to-rent ratio in Marshall County, West Virginia?
The price-to-rent ratio in Marshall County, West Virginia is about 14.0, meaning it would take roughly 14.0 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 Marshall County.
Are home prices or rent rising faster in Marshall County, West Virginia?
Both home prices and rent are rising in Marshall County, up about 28.0% and 4.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Marshall County, West Virginia?
67.0% of households in Marshall County, West Virginia own their home, higher than the West Virginia average of 62.4%.
What is the vacancy rate in Marshall County, West Virginia?
The housing vacancy rate in Marshall County, West Virginia is 15.2%, lower than the West Virginia average of 16.1%.