Morgantown, West Virginia Housing Market Prices
Morgantown Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 58% above the West Virginia median$149,757
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Median rent 8% above the West Virginia median$945
Housing Market Overview
| Metric | Morgantown | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $149,757 | $94,699 | $248,835 |
| Price Trend (Annual %) | 12.0% | 1.7% | 7.5% |
| Median Gross Rent | $945 | $871 | $1,407 |
| Rent Trend (Annual %) | 2.8% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Morgantown is about 58% higher than in West Virginia. Rent is about 8% higher than the West Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Morgantown, up about 12.0% and 2.8% a year respectively. Home prices are changing faster.
Median rent in Morgantown rose about 28.4% between 2015 and 2024, from $736 to $945. Over the same span, rent in West Virginia rose about 35.6%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Morgantown.
Buying the median-priced home in Morgantown costs roughly 13.2 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 Morgantown. The price-to-rent ratio in West Virginia is about 9.1.
| Metric | Morgantown | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $149,757 | $94,699 | $248,835 |
| Median Household Income | $43,249 | $59,640 | $80,455 |
| Price-to-Income Ratio | 3.5 | 1.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Morgantown fell about 20.4%, while median household income rose about 73.7% between 2009 and 2025 — 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 | Morgantown | West Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 30.6% | 63.3% | 58.5% |
| Rental Rate | 55.5% | 21.3% | 31.2% |
| Vacancy Rate | 13.9% | 15.4% | 10.2% |
| Median Tenure (years) | 9.0 | 18.0 | 15.0 |
| Median Year Moved In | 2017 | 2008 | 2011 |
Morgantown has a homeownership rate of 30.6%, lower than the West Virginia average of 63.3%. Its housing vacancy rate is 13.9%, compared with 15.4% in West Virginia.
Housing Stock
| Metric | Morgantown | West Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.06 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1973 | 1975 | 1978 |
| Median Number of Rooms | 4.7 | 5.9 | 5.5 |
The typical housing unit in Morgantown was built around 1973. On average, 2.1 people live in a home with about 4.7 rooms, staying for about 9.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Morgantown, West Virginia.
What is the median home price in Morgantown, West Virginia?
The median home price in Morgantown, West Virginia is $149,757, higher than the West Virginia average of $94,699.
What is the average home price in Morgantown, West Virginia?
The typical home price in Morgantown, West Virginia, reported as the median sale price, is $149,757. 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 Morgantown, West Virginia?
The median gross rent in Morgantown, West Virginia is $945 per month, higher than the West Virginia average of $871.
What was the median gross rent in Morgantown in 2020?
In 2020, the median gross rent in Morgantown, West Virginia was $850 per month.
What is the price-to-rent ratio in Morgantown, West Virginia?
The price-to-rent ratio in Morgantown, West Virginia is about 13.2, meaning it would take roughly 13.2 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 Morgantown.
Are home prices or rent rising faster in Morgantown, West Virginia?
Both home prices and rent are rising in Morgantown, up about 12.0% and 2.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Morgantown, West Virginia?
30.6% of households in Morgantown, West Virginia own their home, lower than the West Virginia average of 63.3%.
What is the vacancy rate in Morgantown, West Virginia?
The housing vacancy rate in Morgantown, West Virginia is 13.9%, lower than the West Virginia average of 15.4%.
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