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 | Wetzel County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $223,397 | $94,066 | $242,182 |
| Price Trend (Annual %) | 38.4% | 1.9% | 8.2% |
| Median Gross Rent | $703 | $849 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wetzel County is about 137% higher than in West Virginia. Rent is about 17% 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 Wetzel County, up about 38.4% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Wetzel County rose about 36.6% between 2015 and 2023, from $515 to $703. Over the same span, rent in West Virginia rose about 32.2%.
Affordability
On average, housing unit costs 4.1 yearly household incomes in Wetzel County.
Buying the median-priced home in Wetzel County costs roughly 26.5 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 Wetzel County. The price-to-rent ratio in West Virginia is about 9.2.
| Metric | Wetzel County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $223,397 | $94,066 | $242,182 |
| Median Household Income | $54,238 | $57,886 | $78,145 |
| Price-to-Income Ratio | 4.1 | 1.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Wetzel County rose about 558.4%, while median household income rose about 50.8% 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 | Wetzel County | West Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.8% | 62.4% | 58.2% |
| Rental Rate | 14.3% | 21.6% | 31.3% |
| Vacancy Rate | 18.9% | 16.1% | 10.6% |
| Median Tenure (years) | 25.0 | 18.0 | 15.0 |
| Median Year Moved In | 2001 | 2008 | 2011 |
Wetzel County has a homeownership rate of 66.8%, higher than the West Virginia average of 62.4%. Its housing vacancy rate is 18.9%, compared with 16.1% in West Virginia.
Housing Stock
| Metric | Wetzel County | West Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.37 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1965 | 1974 | 1978 |
| Median Number of Rooms | 6.0 | 5.9 | 5.5 |
The typical housing unit in Wetzel County was built around 1965. On average, 2.4 people live in a home with about 6.0 rooms, staying for about 25.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Wetzel County, West Virginia.
What is the median home price in Wetzel County, West Virginia?
The median home price in Wetzel County, West Virginia is $223,397, higher than the West Virginia average of $94,066.
What is the average home price in Wetzel 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 Wetzel County, West Virginia?
The median gross rent in Wetzel County, West Virginia is $703 per month, lower than the West Virginia average of $849.
What was the median gross rent in Wetzel County in 2020?
In 2020, the median gross rent in Wetzel County, West Virginia was $705 per month.
What is the price-to-rent ratio in Wetzel County, West Virginia?
The price-to-rent ratio in Wetzel County, West Virginia is about 26.5, meaning it would take roughly 26.5 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 Wetzel County.
Are home prices or rent rising faster in Wetzel County, West Virginia?
Both home prices and rent are rising in Wetzel County, up about 38.4% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Wetzel County, West Virginia?
66.8% of households in Wetzel County, West Virginia own their home, higher than the West Virginia average of 62.4%.
What is the vacancy rate in Wetzel County, West Virginia?
The housing vacancy rate in Wetzel County, West Virginia is 18.9%, higher than the West Virginia average of 16.1%.