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 | Mason County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $179,348 | $94,066 | $242,182 |
| Price Trend (Annual %) | 22.7% | 1.9% | 8.2% |
| Median Gross Rent | $654 | $849 | $1,342 |
| Rent Trend (Annual %) | 3.1% | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mason County is about 91% higher than in West Virginia. Rent is about 23% 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 Mason County, up about 22.7% and 3.1% a year respectively. Home prices are changing faster.
Median rent in Mason County rose about 30.0% between 2015 and 2023, from $504 to $654. Over the same span, rent in West Virginia rose about 32.2%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in Mason County.
Buying the median-priced home in Mason County costs roughly 22.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Mason County. The price-to-rent ratio in West Virginia is about 9.2.
| Metric | Mason County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $179,348 | $94,066 | $242,182 |
| Median Household Income | $53,255 | $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 Mason County rose about 231.8%, while median household income rose about 53.6% 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 | Mason County | West Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.3% | 62.4% | 58.2% |
| Rental Rate | 15.1% | 21.6% | 31.3% |
| Vacancy Rate | 15.7% | 16.1% | 10.6% |
| Median Tenure (years) | 20.0 | 18.0 | 15.0 |
| Median Year Moved In | 2006 | 2008 | 2011 |
Mason County has a homeownership rate of 69.3%, higher than the West Virginia average of 62.4%. Its housing vacancy rate is 15.7%, compared with 16.1% in West Virginia.
Housing Stock
| Metric | Mason County | West Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.38 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1978 | 1974 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Mason County was built around 1978. On average, 2.4 people live in a home with about 5.7 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Mason County, West Virginia.
What is the median home price in Mason County, West Virginia?
The median home price in Mason County, West Virginia is $179,348, higher than the West Virginia average of $94,066.
What is the average home price in Mason 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 Mason County, West Virginia?
The median gross rent in Mason County, West Virginia is $654 per month, lower than the West Virginia average of $849.
What was the median gross rent in Mason County in 2020?
In 2020, the median gross rent in Mason County, West Virginia was $577 per month.
What is the price-to-rent ratio in Mason County, West Virginia?
The price-to-rent ratio in Mason County, West Virginia is about 22.8, meaning it would take roughly 22.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Mason County.
Are home prices or rent rising faster in Mason County, West Virginia?
Both home prices and rent are rising in Mason County, up about 22.7% and 3.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Mason County, West Virginia?
69.3% of households in Mason County, West Virginia own their home, higher than the West Virginia average of 62.4%.
What is the vacancy rate in Mason County, West Virginia?
The housing vacancy rate in Mason County, West Virginia is 15.7%, lower than the West Virginia average of 16.1%.