West Virginia Mortgage Calculator
Estimate your monthly mortgage payment in West Virginia based on the state median home price of $155K, a 0.58% property tax rate, and $1K/year homeowners insurance.
Why This Matters in West Virginia
In West Virginia, property taxes average 0.58% of assessed value. On the state median home of $155K, that adds $75/month to your mortgage payment — well below the national average, giving you more purchasing power. Combined with $117/month for homeowners insurance, your non-mortgage housing costs in West Virginia total $192/month before you even account for principal and interest.
West Virginia's median home price of $155K makes it one of the more affordable states to buy in. At this price point, FHA loans with 3.5% down require just $5,425 for a down payment.
What to Expect for a Mortgage Payment in West Virginia
On the median West Virginia home priced at $155K, a buyer putting 10% down at a 6.5% rate would face a principal-and-interest payment of roughly $882 per month. Add $75/mo in property taxes and $117/mo for homeowners insurance, and the total PITI comes to approximately $1,073 each month. That median price sits about 56% below the national median of roughly $350K, which directly shapes how much house most West Virginia borrowers can realistically target.
West Virginia's comparatively affordable housing market gives buyers a meaningful advantage. At a $155K median, FHA loans with just 3.5% down require only $5K upfront — well within reach for many first-time buyers. Even conventional loans at 5% down need just $8K. The lower price point also means private mortgage insurance (PMI) costs less in absolute terms, keeping the total monthly payment manageable.
West Virginia homeowners benefit from a notably low property tax rate of just 0.58%, translating to about $899 per year on the median home. That is just $75 per month — a fraction of what buyers pay in high-tax states like New Jersey or Illinois. This lower tax burden effectively makes West Virginia housing more affordable than the sticker price alone suggests.
Homeowners insurance in West Virginia averages around $1K per year, which adds $117 to the monthly PITI. This is manageable relative to many other states. To bring the total payment down further, consider the WVHDF Homeownership Program program, which offers up to $7,500 dpa for qualifying buyers — reducing the down payment barrier and potentially lowering your loan amount.