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 | Ohio County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $101,316 | $94,066 | $242,182 |
| Price Trend (Annual %) | 7.8% | 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 Ohio County is about 8% 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 Ohio County, up about 7.8% and 4.9% a year respectively. Home prices are changing faster.
Median rent in Ohio County rose about 45.5% between 2015 and 2023, from $565 to $823. Over the same span, rent in West Virginia rose about 32.2%.
Affordability
On average, housing unit costs 1.8 yearly household incomes in Ohio County.
Buying the median-priced home in Ohio County costs roughly 10.3 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 Ohio County. The price-to-rent ratio in West Virginia is about 9.2.
| Metric | Ohio County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $101,316 | $94,066 | $242,182 |
| Median Household Income | $57,323 | $57,886 | $78,145 |
| Price-to-Income Ratio | 1.8 | 1.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Ohio County rose about 108.2%, while median household income rose about 51.4% 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 | Ohio County | West Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.7% | 62.4% | 58.2% |
| Rental Rate | 27.9% | 21.6% | 31.3% |
| Vacancy Rate | 14.4% | 16.1% | 10.6% |
| Median Tenure (years) | 18.0 | 18.0 | 15.0 |
| Median Year Moved In | 2008 | 2008 | 2011 |
Ohio County has a homeownership rate of 57.7%, lower than the West Virginia average of 62.4%. Its housing vacancy rate is 14.4%, compared with 16.1% in West Virginia.
Housing Stock
| Metric | Ohio County | West Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.18 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1955 | 1974 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Ohio County was built around 1955. On average, 2.2 people live in a home with about 5.7 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Ohio County, West Virginia.
What is the median home price in Ohio County, West Virginia?
The median home price in Ohio County, West Virginia is $101,316, higher than the West Virginia average of $94,066.
What is the average home price in Ohio 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 Ohio County, West Virginia?
The median gross rent in Ohio County, West Virginia is $823 per month, lower than the West Virginia average of $849.
What was the median gross rent in Ohio County in 2020?
In 2020, the median gross rent in Ohio County, West Virginia was $664 per month.
What is the price-to-rent ratio in Ohio County, West Virginia?
The price-to-rent ratio in Ohio County, West Virginia is about 10.3, meaning it would take roughly 10.3 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 Ohio County.
Are home prices or rent rising faster in Ohio County, West Virginia?
Both home prices and rent are rising in Ohio County, up about 7.8% and 4.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Ohio County, West Virginia?
57.7% of households in Ohio County, West Virginia own their home, lower than the West Virginia average of 62.4%.
What is the vacancy rate in Ohio County, West Virginia?
The housing vacancy rate in Ohio County, West Virginia is 14.4%, lower than the West Virginia average of 16.1%.