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Morgantown, WV mortgage & affordability calculator

The typical home in Morgantown, WV is worth about $270,000. With 20% down that's a loan near $216,000 — the calculator is pre-filled with that figure. West Virginia University makes Morgantown the most expensive housing market in the state by a wide margin, with prices well above Wheeling, Parkersburg, or Huntington. A large student rental market and steady healthcare-sector hiring around WVU Medicine give the local economy more stability than most of Appalachia.

$1,402.41 / month

Total interest
$288,865
Total paid
$504,865
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$54k$108k$162k$216k0612182430Year

How much you need to earn

Morgantown, WV's median household income is about $58,000 a year. Under standard 28/36 lending rules that supports a home price around $223,680 with 20% down — below the $270,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.

$223,614 max home price

Max loan amount
$169,614
Housing payment budget
$1,353
P&I budget
$1,101
Bound by
front-end ratio

Uses the 28% front-end / 36% back-end DTI guidelines. Lenders vary.

Typical asking rent in Morgantown, WV is about $1,200 a month, so owning the median home costs roughly $454 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Morgantown, WV?
On the metro's roughly $270,000 typical home with 20% down, the loan is about $216,000. Principal and interest run near $1,402 a month at today's rate, and Morgantown, WV's property tax plus insurance add about $252, for a full payment near $1,654.
Can I afford a home in Morgantown, WV on the median income?
The median household income is about $58,000 a year. Under standard 28/36 lending rules that supports a home price around $223,680 with 20% down — below the $270,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Morgantown, WV?
Typical asking rent is about $1,200 a month. The full owner payment on a median home is near $1,654, so owning costs roughly $454 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Morgantown, WV?
The effective property tax rate in the core county is about 0.60% of market value — roughly $1,620 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Morgantown, WV rising or falling?
Home values are up about 3% over the past year. West Virginia University makes Morgantown the most expensive housing market in the state by a wide margin, with prices well above Wheeling, Parkersburg, or Huntington. A large student rental market and steady healthcare-sector hiring around WVU Medicine give the local economy more stability than most of Appalachia.

Nearby metros

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