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 | Taylor County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $110,250 | $94,066 | $242,182 |
| Price Trend (Annual %) | 58.3% | 1.9% | 8.2% |
| Median Gross Rent | $671 | $849 | $1,342 |
| Rent Trend (Annual %) | 2.1% | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Taylor County is about 17% higher than in West Virginia. Rent is about 21% 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 Taylor County, up about 58.3% and 2.1% a year respectively. Home prices are changing faster.
Median rent in Taylor County rose about 14.5% between 2015 and 2023, from $586 to $671. Over the same span, rent in West Virginia rose about 32.2%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Taylor County.
Buying the median-priced home in Taylor County costs roughly 13.7 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 Taylor County. The price-to-rent ratio in West Virginia is about 9.2.
| Metric | Taylor County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $110,250 | $94,066 | $242,182 |
| Median Household Income | $58,143 | $57,886 | $78,145 |
| Price-to-Income Ratio | 1.9 | 1.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Taylor County rose about 39.4%, while median household income rose about 56.8% between 2009 and 2023 — 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 | Taylor County | West Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.9% | 62.4% | 58.2% |
| Rental Rate | 15.3% | 21.6% | 31.3% |
| Vacancy Rate | 10.9% | 16.1% | 10.6% |
| Median Tenure (years) | 19.0 | 18.0 | 15.0 |
| Median Year Moved In | 2007 | 2008 | 2011 |
Taylor County has a homeownership rate of 73.9%, higher than the West Virginia average of 62.4%. Its housing vacancy rate is 10.9%, compared with 16.1% in West Virginia.
Housing Stock
| Metric | Taylor County | West Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1977 | 1974 | 1978 |
| Median Number of Rooms | 6.1 | 5.9 | 5.5 |
The typical housing unit in Taylor County was built around 1977. On average, 2.4 people live in a home with about 6.1 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Taylor County, West Virginia.
What is the median home price in Taylor County, West Virginia?
The median home price in Taylor County, West Virginia is $110,250, higher than the West Virginia average of $94,066.
What is the average home price in Taylor 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 Taylor County, West Virginia?
The median gross rent in Taylor County, West Virginia is $671 per month, lower than the West Virginia average of $849.
What was the median gross rent in Taylor County in 2020?
In 2020, the median gross rent in Taylor County, West Virginia was $664 per month.
What is the price-to-rent ratio in Taylor County, West Virginia?
The price-to-rent ratio in Taylor County, West Virginia is about 13.7, meaning it would take roughly 13.7 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 Taylor County.
Are home prices or rent rising faster in Taylor County, West Virginia?
Both home prices and rent are rising in Taylor County, up about 58.3% and 2.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Taylor County, West Virginia?
73.9% of households in Taylor County, West Virginia own their home, higher than the West Virginia average of 62.4%.
What is the vacancy rate in Taylor County, West Virginia?
The housing vacancy rate in Taylor County, West Virginia is 10.9%, lower than the West Virginia average of 16.1%.