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 | Randolph County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $221,153 | $94,066 | $242,182 |
| Price Trend (Annual %) | 21.7% | 1.9% | 8.2% |
| Median Gross Rent | $807 | $849 | $1,342 |
| Rent Trend (Annual %) | 5.3% | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Randolph County is about 135% higher than in West Virginia. Rent is about 5% 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 Randolph County, up about 21.7% and 5.3% a year respectively. Home prices are changing faster.
Median rent in Randolph County rose about 44.1% between 2015 and 2023, from $560 to $807. Over the same span, rent in West Virginia rose about 32.2%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Randolph County.
Buying the median-priced home in Randolph 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 Randolph County. The price-to-rent ratio in West Virginia is about 9.2.
| Metric | Randolph County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $221,153 | $94,066 | $242,182 |
| Median Household Income | $54,754 | $57,886 | $78,145 |
| Price-to-Income Ratio | 4.0 | 1.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Randolph County rose about 132.8%, while median household income rose about 60.3% 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 | Randolph County | West Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.2% | 62.4% | 58.2% |
| Rental Rate | 18.2% | 21.6% | 31.3% |
| Vacancy Rate | 20.7% | 16.1% | 10.6% |
| Median Tenure (years) | 19.0 | 18.0 | 15.0 |
| Median Year Moved In | 2007 | 2008 | 2011 |
Randolph County has a homeownership rate of 61.2%, lower than the West Virginia average of 62.4%. Its housing vacancy rate is 20.7%, compared with 16.1% in West Virginia.
Housing Stock
| Metric | Randolph County | West Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1972 | 1974 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Randolph County was built around 1972. On average, 2.4 people live in a home with about 5.7 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Randolph County, West Virginia.
What is the median home price in Randolph County, West Virginia?
The median home price in Randolph County, West Virginia is $221,153, higher than the West Virginia average of $94,066.
What is the average home price in Randolph 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 Randolph County, West Virginia?
The median gross rent in Randolph County, West Virginia is $807 per month, lower than the West Virginia average of $849.
What was the median gross rent in Randolph County in 2020?
In 2020, the median gross rent in Randolph County, West Virginia was $679 per month.
What is the price-to-rent ratio in Randolph County, West Virginia?
The price-to-rent ratio in Randolph 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 Randolph County.
Are home prices or rent rising faster in Randolph County, West Virginia?
Both home prices and rent are rising in Randolph County, up about 21.7% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Randolph County, West Virginia?
61.2% of households in Randolph County, West Virginia own their home, lower than the West Virginia average of 62.4%.
What is the vacancy rate in Randolph County, West Virginia?
The housing vacancy rate in Randolph County, West Virginia is 20.7%, higher than the West Virginia average of 16.1%.