Mortgage payment estimates, closing cost breakdowns, and homebuying data for Morgantown, West Virginia.
Median Home Price
$265K
Population
31K
Avg Monthly Rent
$1,120
Property Tax Rate
0.58% *
* Property tax shown is the West Virginia state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Morgantown.
Morgantown vs West Virginia Median
The median home price in Morgantown is $265,000, which is 71% above the West Virginia state median of $155,000.
Mortgage Calculator — Morgantown, WV
Pre-filled with Morgantown median home price and West Virginia tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $265K home using West Virginia's 0.58% tax rate and $1,400/yr insurance.
5% Down
$1,983/mo
Down: $13,250
Loan: $252K
P&I: $1,591
Tax: $128
Insurance: $117
PMI: $147
10% Down
$1,891/mo
Down: $26,500
Loan: $239K
P&I: $1,507
Tax: $128
Insurance: $117
PMI: $139
20% Down (No PMI)
$1,585/mo
Down: $53,000
Loan: $212K
P&I: $1,340
Tax: $128
Insurance: $117
Income needed (28% rule): $68K/year with 20% down, $81K/year with 10% down.
Rent vs Buy in Morgantown
Rent
$1,120/mo
vs
Buy (10% down)
$1,891/mo
Price-to-rent ratio: 19.7 — A ratio between 15-20 means the rent vs buy decision in Morgantown depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Morgantown is $265,000, 71% above the West Virginia state median of $155,000. With a population of 30,855, Morgantown is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in West Virginia average 0.58% annually. This low property tax rate is a significant advantage for Morgantown buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in West Virginia runs approximately $1,400 per year. This is within the normal range nationally.
Average rent in Morgantown is $1,120/month. The price-to-rent ratio in Morgantown is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Morgantown presents moderate affordability. The $265K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Morgantown.