Mortgage Calculator in West Virginia

Calculate your monthly mortgage payment in West Virginia using the 2026 median home price of $249K and current local rates. Adjust the inputs below. Formula shown, sources cited — no account required.

West Virginia offers some of the most affordable home prices in the eastern United States, with a median home price of $249,000 — well below the national average. The cost-of-living index of 88.0 amplifies that affordability, stretching dollars further across housing, groceries, and services. Property taxes sit at just 0.59%, one of the lowest rates in the country, adding only about $122 per month on a median-priced home. That combination of low prices and low taxes keeps total housing costs accessible for a wide range of buyers. Closing costs average 1.8%, roughly $4,482 on a $249,000 purchase — slightly elevated relative to the home price but manageable in absolute terms. First-time buyers can access the WVHDF Movin' Up Program and the state's First-Time Homebuyers Program through the West Virginia Housing Development Fund. The average mortgage rate of 6.65% is slightly above typical national figures, reflecting the region's lending market characteristics. Use a mortgage calculator to confirm how the low price and property tax combine to produce one of the more manageable total monthly housing costs in the country.

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West Virginia's average mortgage rate of 6.65% and median home price of $249K produce a monthly P&I of approximately $1,439 before taxes and insurance.

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West Virginia Housing Market at a Glance (2026)

$249K

Median Home Price

6.65%

Avg Mortgage Rate

0.59%

Property Tax Rate

10%

Typical Down Payment

Buying a Home in West Virginia: Costs to Know

Average closing costs1.8% of purchase price

On a $249K home, closing costs â‰ˆ$4,482

Median household income$60,798/yr

State income tax (top rate)4.82%

First-Time Buyer Programs in West Virginia

West Virginia offers state-sponsored programs that can reduce your down payment or closing costs:

✓WVHDF Movin' Up Program
✓First-Time Homebuyers Program

How Mortgage Payments Work in West Virginia

A standard mortgage payment in West Virginia is calculated using the amortization formula:M = P[r(1+r)^n] / [(1+r)^n - 1]

Where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments. On a $249K home in West Virginia with a 10% down payment at 6.65% over 30 years, your principal and interest payment comes to approximately $1,439/month— not including property taxes or homeowner's insurance.

West Virginia's property tax rate of 0.59% adds roughly $122/month to your total housing cost on a $249K home. This rate is below the national average of ~1.1%, which helps keep total housing costs lower.

West Virginia vs. National Average

Metric	West Virginia	National Avg
Median Home Price	$249,000	$420,000
Property Tax Rate	0.59%	1.07%
Avg Mortgage Rate	6.65%	6.85%
Cost of Living Index	88	100

Questions You Might Ask — Mortgage Calculator in West Virginia

What is the average mortgage payment in West Virginia?

Based on the median home price of $249K in West Virginia with a 10% down payment and 6.65% rate (30-year fixed), the estimated monthly principal and interest payment is approximately $1,439. Adding property taxes (~$122/mo) and homeowner's insurance, total PITI is typically $1,711–$1,811/month.

What is the property tax rate in West Virginia?

West Virginia has an average effective property tax rate of 0.59%. On the median home price of $249K, that equals roughly $1,469 per year — or $122 added to your monthly mortgage payment. This is below the national average of ~1.1%, which helps lower total housing costs in West Virginia.

How much down payment do I need to buy a home in West Virginia?

The typical down payment in West Virginia is 10% — about $24,900 on the median $249K home. Conventional loans require as little as 3% down; FHA loans allow 3.5%. First-time buyers may also qualify for assistance through programs like WVHDF Movin' Up Program.

What are closing costs in West Virginia?

Average closing costs in West Virginia are approximately 1.8% of the purchase price — about $4,482 on the median $249K home. Closing costs include lender origination fees, title insurance, escrow, prepaid interest, and government recording fees.

What income do I need to afford the median home in West Virginia?

To afford the $249K median home in West Virginia under the 28% housing-cost rule, you need a gross monthly income of at least $6,111 — roughly $73K/year. The median household income in West Virginia is $60,798.

Data Sources & Methodology

State data sourced from the National Association of Realtors (median home prices), Tax Foundation (property tax rates, income tax), Freddie Mac PMMS (mortgage rates), ATTOM Data Solutions (closing costs), and U.S. Census Bureau ACS (household income). Last updated 2026.