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Home Mortgage Rates in West Virginia

Dolly Sods Wilderness in West Virginia.

What are the types of mortgages available in West Virginia, and how do they work? How do real estate prices in the state generally compare with those in other states? Are the loans recourse or non-recourse loans, and what is the difference between the two? What is the foreclosure process in the state? What are the most popular cities and the fastest growing cities in West Virginia? Those topics will be reviewed in this article.

Places to Live

Metropolitan Areas

WV Rank US Rank Metropolitan Area 2016 Pop 2010 Pop Change % △
1 6 Washington-Arlington-Alexandria, DC-VA-MD-WV Metro Area 6,131,977 5,636,232 495,745 8.80%
2 148 Huntington-Ashland, WV-KY-OH Metro Area 359,588 364,908 -5,320 -1.46%
3 183 Hagerstown-Martinsburg, MD-WV Metro Area 263,817 251,599 12,218 4.86%
4 200 Charleston 217,916 227,078 -9,162 -4.03%
5 295 Wheeling, WV-OH Metro Area 142,982 147,950 -4,968 -3.36%
6 301 Morgantown 138,380 129,709 8,671 6.68%
7 306 Winchester, VA-WV Metro Area 135,238 128,472 6,766 5.27%
8 335 Beckley 120,924 124,898 -3,974 -3.18%
9 339 Weirton-Steubenville, WV-OH Metro Area 119,271 124,454 -5,183 -4.16%
10 376 Bluefield, WV-VA Micro Area 102,618 107,342 -4,724 -4.40%
11 384 Cumberland, MD-WV Metro Area 99,541 103,299 -3,758 -3.64%
12 404 Clarksburg 93,672 94,196 -524 -0.56%
13 410 Parkersburg-Vienna 91,449 92,673 -1,224 -1.32%
14 546 Point Pleasant, WV-OH Micro Area 56,840 58,258 -1,418 -2.43%
15 548 Fairmont 56,538 56,418 120 0.21%
16 778 Logan 33,700 36,743 -3,043 -8.28%
17 823 Elkins 29,006 29,405 -399 -1.36%

Real Estate Prices in West Virginia

Average real estate prices in West Virginia are much lower than in other states. For example a Coldwell Banker study of sale prices was released and published in USA Today. The average price comparisons were for homes that were 2200 square foot house, with four bedrooms, 2.5 baths, with a two car garage.

The prices were $165,333 in Beckley, $176,625 in Charleston, and $164,333 in Parkersburg.

By comparison the prices in major cities in other states were:

  • $360, 972 in Richmond, Virginia
  • $263,964 in Pittsburgh, Pennsylvania
  • $238,170 in Columbus, Ohio
  • $248,575 in Buffalo
  • $206,017 in Fayetteville, North Carolina
  • $350,353 in Jacksonville, Florida
  • $407,000 in Orlando, Florida
  • $350,000 in Tampa, Florida

Most Popular Cities in West Virginia

University of Charleston, in West Virginia.

According to Travbuddy.com, the ten most popular destinations in West Virginia based on travel reviews, blogs, photos, and information from those who have visited, are:

  • Charleston
  • Harpers Ferry
  • Morgantown
  • Fayetteville
  • Huntington
  • Moundsville
  • Beckley
  • Martinsburg
  • Parkersburg
  • Lewisburg

Some of the fastest growing cities in West Virginia are Morgantown and Martinsburg.

Aerial View of Morgantown, West Virginia.

Morgantown is home to the largest educational institution in the state, the University of West Virginia. The city is known for its "Mountains of Opportunity" for business expansion and development, and that may be part of the reason for its growth. It consistently has one of the lowest unemployment rates in the state and is in Monongalia County, the only north central county to have population growth for the past 20 years. It is also the home of actor Don Knotts and NBA legend Jerry West.

The fastest growing city in West Virginia has been Martinsburg. Part of the reason for the growth may be the major companies, such as General Motors and FedEx that are in the city. The IRS also has a facility, which processes tax documents for the county, in the town.

West Virginia Census Data

According to the United States Census an estimated 1,831,102 people live in the state of West Virginia. The state has 24,038.21 mi² of land area, which gave it a population density of 76.17 per mi². Here is a list of cities, towns, villages & Census Designated Places across the state along with their estimated population as of June 2016 & the 2010 United States Census. For areas with fewer than 5,000 residents & Census Designated Places (CDP) where there was no population estimate available for 2016, the 2011-2015 American Community Survey 5-Year Estimates data was used.

All table columns are sortable. Click on the column headers to sort by that column. Click again to sort low to high. Cities with higher levels of population growth typically see the increased demand drive faster real estate price appreciation.

Rank Geography County 2016 Pop 2010 Pop Change % △ Land mi² Pop Den mi²
1 Charleston Kanawha 49,138 51,400 -2,262 -4.40% 31.52 1,558.95
2 Huntington Cabell & Wayne 48,113 49,138 -1,025 -2.09% 16.22 2,966.28
3 Morgantown Monongalia 30,855 29,660 1,195 4.03% 10.17 3,033.92
4 Parkersburg Wood 30,601 31,492 -891 -2.83% 11.82 2,588.92
5 Wheeling Ohio & Marshall 27,375 28,486 -1,111 -3.90% 13.79 1,985.13
6 Weirton Hancock & Brooke 18,989 19,746 -757 -3.83% 18.05 1,052.02
7 Fairmont Marion 18,622 18,704 -82 -0.44% 8.62 2,160.32
8 Martinsburg Berkeley 17,687 17,227 460 2.67% 6.65 2,659.70
9 Beckley Raleigh 16,972 17,614 -642 -3.64% 9.49 1,788.41
10 Clarksburg Harrison 16,035 16,578 -543 -3.28% 9.75 1,644.62
Teays Valley CDP Putnam 13848 13175 673 5.11% 7.17 1,931.38
11 South Charleston Kanawha 12,859 13,450 -591 -4.39% 7.61 1,689.75
Cross Lanes CDP Kanawha 10567 9995 572 5.72% 6.38 1,656.27
12 St. Albans Kanawha 10,553 11,044 -491 -4.45% 3.62 2,915.19
13 Vienna Wood 10,459 10,749 -290 -2.70% 3.79 2,759.63
14 Bluefield Mercer 10,191 10,447 -256 -2.45% 8.86 1,150.23
Cheat Lake CDP Monongalia 9219 7988 1,231 15.41% 14.31 644.23
15 Moundsville Marshall 8,741 9,318 -577 -6.19% 2.91 3,003.78
16 Oak Hill Fayette 8,544 7,730 814 10.53% 4.88 1,750.82
17 Bridgeport Harrison 8,364 8,149 215 2.64% 10.51 795.81
18 Dunbar Kanawha 7,543 7,907 -364 -4.60% 2.8 2,693.93
19 Elkins Randolph 7,187 7,094 93 1.31% 3.43 2,095.34
20 Nitro Kanawha & Putnam 6,686 7,178 -492 -6.85% 4.27 1,565.81
21 Hurricane Putnam 6,604 6,284 320 5.09% 3.74 1,765.78
Pea Ridge CDP Cabell 6323 6650 -327 -4.92% 2.29 2,761.14
22 Princeton Mercer 5,962 6,432 -470 -7.31% 3.01 1,980.73
23 Charles Town Jefferson 5,945 5,259 686 13.04% 5.81 1,023.24
24 Buckhannon Upshur 5,612 5,639 -27 -0.48% 2.83 1,983.04
Brookhaven CDP Monongalia 5384 5171 213 4.12% 9.23 583.32
25 Keyser Mineral 5,200 5,439 -239 -4.39% 1.92 2,708.33
26 New Martinsville Wetzel 5,181 5,366 -185 -3.45% 2.67 1,940.45
27 Ranson corporation Jefferson 5,166 4,440 726 16.35% 8.05 641.74
28 Grafton Taylor 5,127 5,164 -37 -0.72% 3.67 1,397.00
Sissonville CDP Kanawha 4655 4028 627 15.57% 12.75 365.10
29 Barboursville village Cabell 4,262 3,964 298 7.52% 4.09 1,042.05
30 Westover Monongalia 4,243 3,983 260 6.53% 1.51 2,809.93
31 Point Pleasant Mason 4,237 4,350 -113 -2.60% 2.4 1,765.42
32 Weston Lewis 4,044 4,110 -66 -1.61% 1.95 2,073.85
33 Lewisburg Greenbrier 3,921 3,830 91 2.38% 3.8 1,031.84
34 Ravenswood Jackson 3,825 3,876 -51 -1.32% 1.82 2,101.65
Culloden CDP Cabell & Putnam 3549 3061 488 15.94% 4.22 841.00
35 Philippi Barbour 3,533 2,966 567 19.12% 2.86 1,235.31
36 Summersville Nicholas 3,434 3,572 -138 -3.86% 4.22 813.74
Shannondale CDP Jefferson 3305 3358 -53 -1.58% 8.43 392.05
37 Ripley Jackson 3,245 3,252 -7 -0.22% 3.17 1,023.66
38 Pleasant Valley Marion 3,172 3,149 23 0.73% 3.23 982.04
Shady Spring CDP Raleigh 3060 2998 62 2.07% 6.07 504.12
39 Kenova Wayne 3,055 3,216 -161 -5.01% 1.26 2,424.60
40 Kingwood Preston 2,956 2,939 17 0.58% 2.43 1,216.46
41 Williamstown Wood 2,941 2,908 33 1.13% 1.38 2,131.16
42 Williamson Mingo 2,924 3,191 -267 -8.37% 3.26 896.93
Pinch CDP Kanawha 2876 3262 -386 -11.83% 3.55 810.14
43 Madison Boone 2,865 3,076 -211 -6.86% 7.01 408.70
44 Fayetteville Fayette 2,852 2,892 -40 -1.38% 5.46 522.34
45 Follansbee Brooke 2,838 2,986 -148 -4.96% 1.84 1,542.39
Hooverson Heights CDP Brooke 2834 2590 244 9.42% 2.26 1,253.98
Blennerhassett CDP Wood 2769 3089 -320 -10.36% 4.96 558.27
46 Wellsburg Brooke 2,657 2,805 -148 -5.28% 0.98 2,711.22
47 Milton Cabell 2,614 2,423 191 7.88% 1.54 1,697.40
48 Petersburg Grant 2,573 2,467 106 4.30% 1.62 1,588.27
49 Granville Monongalia 2,562 781 1,781 228.04% 1.3 1,970.77
Bluewell CDP Mercer 2535 2184 351 16.07% 4.49 564.59
50 Paden City Wetzel & Tyler 2,487 2,633 -146 -5.55% 0.85 2,925.88
Crab Orchard CDP Raleigh 2475 2678 -203 -7.58% 2.24 1,104.91
51 Chester Hancock 2,474 2,585 -111 -4.29% 1 2,474.00
52 Moorefield Hardy 2,473 2,544 -71 -2.79% 2.35 1,052.34
53 Hinton Summers 2,469 2,676 -207 -7.74% 2.22 1,112.16
54 White Sulphur Springs Greenbrier 2,420 2,444 -24 -0.98% 1.95 1,241.03
55 Bethlehem village Ohio 2,398 2,499 -101 -4.04% 3.54 677.40
56 Winfield Putnam 2,357 2,301 56 2.43% 2.41 978.01
Inwood CDP Berkeley 2351 2954 -603 -20.41% 2.85 824.91
Daniels CDP Raleigh 2301 1881 420 22.33% 4.63 496.98
57 Shinnston Harrison 2,161 2,201 -40 -1.82% 1.73 1,249.13
58 Spencer Roane 2,158 2,322 -164 -7.06% 1.26 1,712.70
59 Mannington Marion 2,059 2,063 -4 -0.19% 1.1 1,871.82
60 Star City Monongalia 2,024 1,825 199 10.90% 0.49 4,130.61
61 Shepherdstown Jefferson 1,991 1,734 257 14.82% 0.37 5,381.08
62 Richwood Nicholas 1,955 2,051 -96 -4.68% 1.61 1,214.29
63 Belington Barbour 1,910 1,921 -11 -0.57% 2.06 927.18
Alum Creek CDP Lincoln & Kanawha 1902 1749 153 8.75% 10.19 186.65
64 St. Marys Pleasants 1,837 1,860 -23 -1.24% 1.02 1,800.98
65 McMechen Marshall 1,819 1,926 -107 -5.56% 0.57 3,191.23
Fairlea CDP Greenbrier 1817 1747 70 4.01% 3.74 485.83
66 Welch McDowell 1,816 2,406 -590 -24.52% 6.01 302.16
Bradley CDP Raleigh 1810 2040 -230 -11.27% 4.23 427.90
Craigsville CDP Nicholas 1779 2213 -434 -19.61% 6.07 293.08
67 Romney Hampshire 1,759 1,848 -89 -4.82% 0.96 1,832.29
68 Stonewood Harrison 1,753 1,806 -53 -2.93% 0.85 2,062.35
69 Harrisville Ritchie 1,750 1,876 -126 -6.72% 1.58 1,107.59
70 Ronceverte Greenbrier 1,736 1,765 -29 -1.64% 1.7 1,021.18
Stanaford CDP Raleigh 1726 1350 376 27.85% 1.91 903.66
Prosperity CDP Raleigh 1624 1498 126 8.41% 2.46 660.16
71 Eleanor Putnam 1,603 1,518 85 5.60% 2.12 756.13
72 Logan Logan 1,600 1,779 -179 -10.06% 1.15 1,391.30
Coal City CDP Raleigh 1596 1815 -219 -12.07% 6.31 252.93
Mineralwells CDP Wood 1582 1950 -368 -18.87% 1.53 1,033.99
73 Montgomery Fayette & Kanawha 1,577 1,638 -61 -3.72% 1.57 1,004.46
74 Nutter Fort Harrison 1,570 1,593 -23 -1.44% 0.85 1,847.06
Despard CDP Harrison 1560 1004 556 55.38% 1.47 1,061.22
MacArthur CDP Raleigh 1559 1500 59 3.93% 2.98 523.15
75 Salem Harrison 1,541 1,586 -45 -2.84% 1.34 1,150.00
76 Glenville Gilmer 1,517 1,537 -20 -1.30% 1 1,517.00
77 New Haven Mason 1,514 1,560 -46 -2.95% 1.1 1,376.36
78 Terra Alta Preston 1,491 1,477 14 0.95% 1.19 1,252.94
79 Chesapeake Kanawha 1,480 1,554 -74 -4.76% 0.48 3,083.33
80 West Liberty Ohio 1,471 1,542 -71 -4.60% 0.68 2,163.24
81 Rainelle Greenbrier 1,468 1,505 -37 -2.46% 1.11 1,322.52
Fort Ashby CDP Mineral 1454 1380 74 5.36% 3.53 411.90
82 Glen Dale Marshall 1,446 1,526 -80 -5.24% 0.85 1,701.18
83 Mullens Wyoming 1,439 1,559 -120 -7.70% 1.8 799.44
84 Marmet  Kanawha 1,429 1,503 -74 -4.92% 1.27 1,125.20
85 Parsons Tucker 1,423 1,485 -62 -4.18% 1.11 1,281.98
Elkview CDP Kanawha 1377 1222 155 12.68% 1.68 819.64
86 Ceredo Wayne 1,376 1,450 -74 -5.10% 1.53 899.35
87 Ansted Fayette 1,374 1,404 -30 -2.14% 1.66 827.71
88 Wayne Wayne 1,366 1,413 -47 -3.33% 0.72 1,897.22
Lesage CDP Cabell 1358 1358 0 0.00% 6.09 222.99
89 Mabscott Raleigh 1,350 1,408 -58 -4.12% 0.87 1,551.72
90 Mount Hope Fayette 1,350 1,414 -64 -4.53% 1.33 1,015.04
Mount Gay-Shamrock CDP Logan 1349 1779 -430 -24.17% 7.55 178.68
91 Benwood Marshall 1,344 1,420 -76 -5.35% 1.3 1,033.85
Newell CDP Hancock 1317 1376 -59 -4.29% 0.74 1,779.73
92 Sistersville Tyler 1,316 1,396 -80 -5.73% 0.53 2,483.02
Rand CDP Kanawha 1315 1631 -316 -19.37% 0.46 2,858.70
93 Barrackville Marion 1,311 1,302 9 0.69% 0.69 1,900.00
94 Sophia Raleigh 1,311 1,344 -33 -2.46% 0.69 1,900.00
Lubeck CDP Wood 1308 1311 -3 -0.23% 4.26 307.04
Boaz CDP Wood 1306 1297 9 0.69% 3.66 356.83
Mallory CDP Logan 1306 1654 -348 -21.04% 12.99 100.54
Washington CDP Wood 1296 1175 121 10.30% 4.16 311.54
95 Oceana Wyoming 1,280 1,394 -114 -8.18% 1.29 992.25
Tornado (Upper Falls CDP) Kanawha 1280 3701 -2,421 -65.41% 16.93 75.61
96 Buffalo Putnam 1,250 1,236 14 1.13% 1.4 892.86
97 Belle Kanawha 1,192 1,260 -68 -5.40% 0.69 1,727.54
98 Alderson Greenbrier & Monroe 1,173 1,184 -11 -0.93% 0.89 1,317.98
99 Clendenin Kanawha 1,173 1,227 -54 -4.40% 1.44 814.58
100 Chapmanville Logan 1,171 1,256 -85 -6.77% 0.65 1,801.54
Gilbert Creek CDP Mingo 1170 1090 80 7.34% 11.57 101.12
Lavalette CDP Wayne 1159 1073 86 8.01% 2.61 444.06
Cassville CDP Monongalia 1150 701 449 64.05% 3.55 323.94
Brush Fork CDP Mercer 1137 1197 -60 -5.01% 1.9 598.42
101 Hamlin Lincoln 1,114 1,142 -28 -2.45% 0.6 1,856.67
Falling Waters CDP Berkeley 1109 876 233 26.60% 1.25 887.20
102 Monongah Marion 1,106 1,044 62 5.94% 0.49 2,257.14
Bruno CDP Logan 1102 544 558 102.57% 1.3 847.69
Beaver CDP Raleigh 1086 1308 -222 -16.97% 4.36 249.08
103 Pennsboro Ritchie 1,067 1,171 -104 -8.88% 2.7 395.19
Coal Fork CDP Kanawha 1061 1233 -172 -13.95% 5.12 207.23
104 New Cumberland Hancock 1,051 1,103 -52 -4.71% 1.22 861.48
105 Bolivar Jefferson 1,046 1,045 1 0.10% 0.44 2,377.27
106 Sutton Braxton 1,033 994 39 3.92% 0.78 1,324.36
107 Marlinton Pocahontas 1,014 1,054 -40 -3.80% 2.44 415.57
108 Bethany Brooke 1,002 1,036 -34 -3.28% 0.73 1,372.60
Gallipolis Ferry CDP Mason 996 817 179 21.91% 2.28 436.84
109 Poca Putnam 989 974 15 1.54% 0.59 1,676.27
110 Athens Mercer 940 1,048 -108 -10.31% 0.39 2,410.26
111 Cedar Grove Kanawha 938 997 -59 -5.92% 0.72 1,302.78
112 Carpendale Mineral 934 977 -43 -4.40% 1.31 712.98
113 Rivesville Marion 934 934 0 0.00% 0.52 1,796.15
114 Mason Mason 933 968 -35 -3.62% 0.59 1,581.36
Boomer CDP Fayette 923 615 308 50.08% 1.38 668.84
115 Rupert Greenbrier 923 942 -19 -2.02% 0.77 1,198.70
116 East Bank Kanawha 919 959 -40 -4.17% 0.48 1,914.58
Piney View CDP Raleigh 911 989 -78 -7.89% 4.05 224.94
117 Gassaway Braxton 902 908 -6 -0.66% 1.16 777.59
118 Cameron Marshall 891 946 -55 -5.81% 0.86 1,036.05
119 Belmont Pleasants 890 903 -13 -1.44% 0.41 2,170.73
Chelyan CDP Kanawha 889 776 113 14.56% 0.4 2,222.50
120 Glasgow Kanawha 870 905 -35 -3.87% 0.47 1,851.06
121 Gary McDowell 866 968 -102 -10.54% 0.84 1,030.95
Switzer CDP Logan 864 595 269 45.21% 2.34 369.23
122 Lumberport Harrison 859 876 -17 -1.94% 0.5 1,718.00
Enterprise CDP Harrison 840 961 -121 -12.59% 2.94 285.71
123 Piedmont Mineral 835 876 -41 -4.68% 0.38 2,197.37
124 Elizabeth Wirt 831 823 8 0.97% 0.47 1,768.09
125 North Hills Wood 820 832 -12 -1.44% 0.55 1,490.91
126 West Union Doddridge 820 825 -5 -0.61% 0.36 2,277.78
Jefferson CDP Kanawha 800 676 124 18.34% 0.33 2,424.24
Wiley Ford CDP Mineral 790 1026 -236 -23.00% 2.88 274.31
127 Middlebourne Tyler 787 815 -28 -3.44% 0.36 2,186.11
128 Smithers Fayette & Kanawha 777 813 -36 -4.43% 0.5 1,554.00
Verdunville CDP Logan 763 687 76 11.06% 2.67 285.77
129 Triadelphia Ohio 761 811 -50 -6.17% 0.67 1,135.82
Nettie CDP Nicholas 757 568 189 33.27% 3.15 240.32
130 West Hamlin Lincoln 757 774 -17 -2.20% 0.53 1,428.30
Shrewsbury CDP Kanawha 752 652 100 15.34% 0.35 2,148.57
131 Anmoore Harrison 751 770 -19 -2.47% 1.06 708.49
132 War McDowell 751 862 -111 -12.88% 0.89 843.82
Accoville CDP Logan 749 574 175 30.49% 3.27 229.05
133 Addison (Webster Springs) Webster 723 776 -53 -6.83% 0.45 1,606.67
Salt Rock CDP Cabell 713 388 325 83.76% 3.07 232.25
Hepzibah CDP Harrison 703 566 137 24.20% 0.92 764.13
Robinette CDP Logan 703 663 40 6.03% 3 234.33
134 Mill Creek Randolph 701 724 -23 -3.18% 0.46 1,523.91
Hilltop CDP Fayette 686 624 62 9.94% 0.65 1,055.38
Red Jacket CDP Mingo 685 581 104 17.90% 5.26 130.23
135 Man Logan 683 759 -76 -10.01% 1.1 620.91
136 Beverly Randolph 679 702 -23 -3.28% 0.45 1,508.89
137 Fort Gay Wayne 671 705 -34 -4.82% 0.84 798.81
138 Franklin Pendleton 662 721 -59 -8.18% 0.56 1,182.14
139 White Hall Marion 658 648 10 1.54% 1.05 626.67
140 Davis Tucker 655 660 -5 -0.76% 1.83 357.92
Scarbro CDP Fayette 648 486 162 33.33% 0.68 952.94
Holden CDP Logan 644 876 -232 -26.48% 3.73 172.65
141 Ridgeley Mineral 643 675 -32 -4.74% 0.29 2,217.24
142 Danville Boone 640 691 -51 -7.38% 1.07 598.13
143 Peterstown Monroe 636 653 -17 -2.60% 0.32 1,987.50
Harts CDP Lincoln 627 656 -29 -4.42% 9.18 68.30
144 Pineville Wyoming 619 668 -49 -7.34% 0.8 773.75
145 West Milford Harrison 616 630 -14 -2.22% 0.53 1,162.26
McConnell CDP Logan 615 514 101 19.65% 0.31 1,983.87
146 Grant Town Marion 611 613 -2 -0.33% 0.53 1,152.83
147 Bath (Berkeley Springs) Morgan 610 624 -14 -2.24% 0.34 1,794.12
Powellton CDP Fayette 610 619 -9 -1.45% 5.35 114.02
148 Bancroft Putnam 598 587 11 1.87% 0.14 4,271.43
Bolt CDP Raleigh 598 548 50 9.12% 5.45 109.72
Chattaroy CDP Mingo 598 756 -158 -20.90% 2.04 293.14
149 Reedsville Preston 596 593 3 0.51% 0.65 916.92
Rossmore CDP Logan 596 301 295 98.01% 0.62 961.29
150 Hartford City Mason 592 614 -22 -3.58% 1.24 477.42
Glen Fork CDP Wyoming 586 487 99 20.33% 3.07 190.88
151 Gauley Bridge Fayette 585 614 -29 -4.72% 1.58 370.25
152 Pratt Kanawha 585 602 -17 -2.82% 0.29 2,017.24
153 Rowlesburg  Preston 579 584 -5 -0.86% 1.01 573.27
Berwind CDP McDowell 578 278 300 107.91% 0.29 1,993.10
154 Thomas Tucker 562 586 -24 -4.10% 4.46 126.01
Montcalm CDP Mercer 559 726 -167 -23.00% 2.72 205.51
Ghent CDP Raleigh 555 457 98 21.44% 1.28 433.59
155 Union Monroe 552 565 -13 -2.30% 0.45 1,226.67
156 Masontown Preston 548 546 2 0.37% 0.28 1,957.14
157 Clearview village Ohio 546 565 -19 -3.36% 0.42 1,300.00
158 Grantsville Calhoun 538 561 -23 -4.10% 0.44 1,222.73
Hometown CDP Putnam 530 668 -138 -20.66% 0.8 662.50
159 Delbarton Mingo 527 579 -52 -8.98% 2.01 262.19
Middleway CDP Jefferson 519 441 78 17.69% 1.12 463.39
Valley Bend CDP Randolph 519 485 34 7.01% 1.41 368.09
Shenandoah Junction CDP Jefferson 516 703 -187 -26.60% 1.01 510.89
160 Pine Grove Wetzel 510 552 -42 -7.61% 0.35 1,457.14
Kistler CDP Logan 507 528 -21 -3.98% 1.49 340.27
161 Cowen Webster 498 541 -43 -7.95% 0.63 790.48
Raysal CDP McDowell 498 465 33 7.10% 1.23 404.88
162 Burnsville Braxton 496 510 -14 -2.75% 1.06 467.92
163 Junior Barbour 495 520 -25 -4.81% 0.31 1,596.77
Kopperston CDP Wyoming 495 616 -121 -19.64% 1.91 259.16
164 Paw Paw Morgan 493 508 -15 -2.95% 0.53 930.19
165 Beech Bottom village Brooke 491 523 -32 -6.12% 1.16 423.28
Greenview CDP Boone 486 378 108 28.57% 0.99 490.91
Wallace CDP Harrison 479
Glen White CDP Raleigh 474 266 208 78.20% 0.51 929.41
166 Lost Creek Harrison 474 496 -22 -4.44% 0.97 488.66
Spelter CDP Harrison 470 346 124 35.84% 0.49 959.18
167 Whitesville Boone 466 514 -48 -9.34% 0.31 1,503.23
168 Clay Clay 464 491 -27 -5.50% 0.56 828.57
169 Matewan Mingo 454 499 -45 -9.02% 0.56 810.71
Omar CDP Logan 447 552 -105 -19.02% 1.13 395.58
Stollings CDP Logan 442 316 126 39.87% 0.36 1,227.78
Bud CDP Wyoming 440 487 -47 -9.65% 3.12 141.03
Lashmeet CDP Mercer 436 479 -43 -8.98% 0.75 581.33
East Dailey CDP Randolph 434 557 -123 -22.08% 1.05 413.33
Justice CDP Mingo 427 412 15 3.64% 1.32 323.48
Minden CDP Fayette 413 250 163 65.20% 0.49 842.86
170 Gilbert Mingo 412 450 -38 -8.44% 0.99 416.16
171 Fairview Marion 411 408 3 0.74% 0.28 1,467.86
172 Jane Lew Lewis 404 409 -5 -1.22% 0.24 1,683.33
173 Windsor Heights village Brooke 394 423 -29 -6.86% 0.14 2,814.29
Kincaid CDP Fayette 392 260 132 50.77% 0.86 455.81
Springfield CDP Hampshire 389 477 -88 -18.45% 1.34 290.30
174 West Logan Logan 389 424 -35 -8.25% 0.34 1,144.12
Charlton Heights CDP Fayette 382 406 -24 -5.91% 0.41 931.71
Matheny CDP Wyoming 379 531 -152 -28.63% 3.5 108.29
175 Farmington Marion 374 375 -1 -0.27% 0.42 890.48
176 Davy McDowell 372 420 -48 -11.43% 1.27 292.91
177 Northfork McDowell 372 429 -57 -13.29% 0.96 387.50
178 Kermit Mingo 371 406 -35 -8.62% 0.39 951.28
179 Capon Bridge Hampshire 369 355 14 3.94% 0.67 550.75
Big Creek CDP Logan 367 237 130 54.85% 0.58 632.76
180 Valley Grove village Ohio 365 378 -13 -3.44% 0.55 663.64
Reader CDP Wetzel 359 397 -38 -9.57% 0.93 386.02
181 Meadow Bridge Fayette 357 379 -22 -5.80% 0.41 870.73
Carolina CDP Marion 355 411 -56 -13.63% 0.83 427.71
182 Bramwell Mercer 352 364 -12 -3.30% 0.55 640.00
183 Ellenboro Ritchie 346 363 -17 -4.68% 1.12 308.93
Mount Carbon CDP Fayette 346 428 -82 -19.16% 0.15 2,306.67
Glen Jean CDP Fayette 340 210 130 61.90% 0.23 1,478.26
184 Handley Kanawha 336 349 -13 -3.72% 0.95 353.68
Chauncey CDP Logan 331 283 48 16.96% 1.44 229.86
Comfort CDP Boone 328 306 22 7.19% 1 328.00
185 Lester Raleigh 322 348 -26 -7.47% 0.5 644.00
186 Hedgesville Berkeley 320 318 2 0.63% 0.13 2,461.54
Gypsy CDP Harrison 317 328 -11 -3.35% 0.78 406.41
187 Newburg Preston 313 329 -16 -4.86% 0.79 396.20
188 Flemington Taylor 312 312 0 0.00% 0.3 1,040.00
Itmann CDP Wyoming 302 293 9 3.07% 0.99 305.05
189 Mitchell Heights Logan 302 323 -21 -6.50% 0.34 888.24
Big Chimney CDP Kanawha 301 627 -326 -51.99% 2 150.50
190 Tunnelton Preston 297 294 3 1.02% 0.33 900.00
Aurora CDP Preston 296 201 95 47.26% 2.11 140.28
191 Bradshaw McDowell 296 337 -41 -12.17% 0.77 384.42
Valley Head CDP Randolph 295 267 28 10.49% 0.98 301.02
192 Harpers Ferry Jefferson 291 286 5 1.75% 0.53 549.06
New Richmond CDP Wyoming 289 238 51 21.43% 0.43 672.09
193 Durbin Pocahontas 287 293 -6 -2.05% 0.57 503.51
194 Albright Preston 286 299 -13 -4.35% 0.23 1,243.48
195 Quinwood Greenbrier 286 290 -4 -1.38% 0.35 817.14
Great Cacapon CDP Morgan 284 386 -102 -26.42% 0.86 330.23
196 Flatwoods Braxton 277 277 0 0.00% 0.65 426.15
197 Hundred Wetzel 276 299 -23 -7.69% 0.5 552.00
Sarah Ann CDP Logan 276 345 -69 -20.00% 1.83 150.82
198 Bayard Grant 272 290 -18 -6.21% 0.31 877.42
199 Wardensville Hardy 272 271 1 0.37% 0.32 850.00
Deep Water CDP Fayette 271 280 -9 -3.21% 0.88 307.95
200 Cairo Ritchie 267 281 -14 -4.98% 0.47 568.09
201 Iaeger McDowell 267 302 -35 -11.59% 0.79 337.97
Prichard CDP Wayne 267 527 -260 -49.34% 1.11 240.54
202 Henderson Mason 266 271 -5 -1.85% 0.42 633.33
203 Hendricks Tucker 265 272 -7 -2.57% 0.34 779.41
Kimberly CDP Fayette 261 287 -26 -9.06% 0.89 293.26
Green Spring CDP Hampshire 252 218 34 15.60% 2.2 114.55
Bartley CDP McDowell 250 224 26 11.61% 1.14 219.30
204 Hillsboro Pocahontas 247 260 -13 -5.00% 0.36 686.11
Henlawson CDP Logan 244 442 -198 -44.80% 0.8 305.00
Burlington CDP Mineral 243 182 61 33.52% 1.23 197.56
205 Keystone McDowell 243 282 -39 -13.83% 0.32 759.38
206 Womelsdorf (Coalton) Randolph 242 250 -8 -3.20% 0.41 590.24
Racine CDP Boone 235 256 -21 -8.20% 0.48 489.58
Rachel CDP Marion 234 248 -14 -5.65% 0.34 688.24
207 Hambleton Tucker 225 232 -7 -3.02% 0.12 1,875.00
208 Elk Garden Mineral 224 232 -8 -3.45% 0.26 861.54
Green Bank CDP Pocahontas 223 143 80 55.94% 3.28 67.99
209 Huttonsville Randolph 218 221 -3 -1.36% 0.3 726.67
210 Matoaka  Mercer 218 227 -9 -3.96% 0.26 838.46
Waverly CDP Wood 215 395 -180 -45.57% 1.48 145.27
211 Falling Spring Greenbrier 208 211 -3 -1.42% 0.51 407.84
Brenton CDP Wyoming 207 249 -42 -16.87% 0.63 328.57
Amherstdale CDP Logan 205 350 -145 -41.43% 2.95 69.49
Idamay CDP Marion 204 611 -407 -66.61% 0.88 231.82
212 Anawalt McDowell 202 226 -24 -10.62% 0.58 348.28
Corinne CDP Wyoming 200 362 -162 -44.75% 0.37 540.54
Arbovale CDP Pocahontas 197
Pentress CDP Monongalia 197 175 22 12.57% 0.61 322.95
Big Sandy CDP McDowell 185 168 17 10.12% 0.53 349.06
Century CDP Barbour 185 115 70 60.87% 0.13 1,423.08
213 Blacksville Monongalia 183 171 12 7.02% 0.3 610.00
Apple Grove CDP Mason 175 204 -29 -14.22% 2.3 76.09
Crum CDP Wayne 175 182 -7 -3.85% 0.51 343.14
Covel CDP Wyoming 174 142 32 22.54% 0.21 828.57
Hico CDP Fayette 174 272 -98 -36.03% 5.01 34.73
214 Kimball McDowell 173 194 -21 -10.82% 0.25 692.00
215 Reedy Roane 172 182 -10 -5.49% 0.19 905.26
216 Rhodell Raleigh 167 173 -6 -3.47% 0.31 538.71
Monaville CDP Logan 166 309 -143 -46.28% 0.46 360.87
Twilight CDP Boone 165 90 75 83.33% 0.5 330.00
217 Pax Fayette 162 167 -5 -2.99% 0.3 540.00
Page CDP Fayette 161 224 -63 -28.13% 0.44 365.91
218 Worthington Marion 159 158 1 0.63% 0.58 274.14
219 Camden-on-Gauley Webster 157 169 -12 -7.10% 0.33 475.76
220 Smithfield Wetzel 157 145 12 8.28% 0.29 541.38
221 Leon Mason 156 158 -2 -1.27% 0.32 487.50
222 Montrose Randolph 156 156 0 0.00% 0.63 247.62
Crumpler CDP McDowell 155 204 -49 -24.02% 1.5 103.33
223 Sand Fork Gilmer 155 159 -4 -2.52% 0.32 484.38
Falls View CDP Fayette 152 238 -86 -36.13% 0.33 460.61
Maybeury CDP McDowell 149 234 -85 -36.32% 1.67 89.22
224 Sylvester Boone 149 160 -11 -6.88% 0.25 596.00
Huntersville CDP Pocahontas 146 73 73 100.00% 1.13 129.20
225 Harman Randolph 142 143 -1 -0.70% 0.32 443.75
226 Pullman Ritchie 142 154 -12 -7.79% 0.24 591.67
Dixie CDP Nicholas & Fayette 135 291 -156 -53.61% 0.73 184.93
Fenwick CDP Nicholas 130 116 14 12.07% 0.14 928.57
227 Friendly Tyler 129 132 -3 -2.27% 0.09 1,433.33
Neibert CDP Logan 128 183 -55 -30.05% 0.61 209.84
Wolf Summit CDP Harrison 124 272 -148 -54.41% 0.36 344.44
Glen Ferris CDP Fayette 123 203 -80 -39.41% 1.38 89.13
Littleton CDP Wetzel 123 198 -75 -37.88% 0.66 186.36
Galloway CDP Barbour 122 143 -21 -14.69% 0.63 193.65
Brandywine CDP Pendleton 119 218 -99 -45.41% 0.49 242.86
228 Oakvale Mercer 119 121 -2 -1.65% 0.42 283.33
Eccles CDP Raleigh 118 362 -244 -67.40% 0.69 171.01
Beards Fork CDP Fayette 115 199 -84 -42.21% 1.68 68.45
Helen CDP Raleigh 114 219 -105 -47.95% 0.24 475.00
229 Brandonville Preston 106 101 5 4.95% 0.39 271.79
Jacksonburg CDP Wetzel 106 182 -76 -41.76% 1.48 71.62
Dailey CDP Randolph 101 114 -13 -11.40% 0.51 198.04
Prince CDP Fayette 100 116 -16 -13.79% 1.83 54.64
Van CDP Boone 98 211 -113 -53.55% 0.6 163.33
Belva CDP Nicholas 95 95 0 0.00% 0.14 678.57
230 Auburn Ritchie 92 97 -5 -5.15% 0.33 278.79
Pageton CDP McDowell 88 187 -99 -52.94% 1.2 73.33
231 Bruceton Mills Preston 87 85 2 2.35% 0.06 1,450.00
Frank CDP Pocahontas 81 90 -9 -10.00% 0.38 213.16
Vivian CDP McDowell 75 82 -7 -8.54% 0.36 208.33
Bergoo CDP Webster 64 94 -30 -31.91% 0.21 304.76
St. George CDP Tucker 63
Birch River CDP Nicholas 62 107 -45 -42.06% 0.37 167.57
Cucumber CDP McDowell 57 94 -37 -39.36% 0.45 126.67
Whitmer CDP Randolph 55 106 -51 -48.11% 0.42 130.95
Roderfield CDP McDowell 51 188 -137 -72.87% 0.26 196.15
Bartow CDP Pocahontas 47 111 -64 -57.66% 0.46 102.17
Cass CDP Pocahontas 47 52 -5 -9.62% 0.79 59.49
Parcoal CDP Webster 43
Pickens CDP Randolph 33 66 -33 -50.00% 2.03 16.26
Helvetia CDP Randolph 31 59 -28 -47.46% 1.81 17.13
Tioga CDP Nicholas 10 98 -88 -89.80% 0.62 16.13
232 Thurmond Fayette 5 5 0 0.00% 0.09 55.56

Annual Estimates of the Resident Population: April 1, 2010 to July 1, 2016
Source: U.S. Census Bureau, Population Division
Release Date: May 2017.

Types of Mortgages in West Virginia

There are a variety of types of mortgages in West Virginia:

  • Fixed Rate
  • 5/5 Adjustable
  • 5/1 Adjustable
  • West Virginia Conforming Mortgage
  • West Virginia Second Mortgage

USDA loans can help people with low incomes in rural parts of the state qualify for a subsidized low-interest loan.

Fixed Rate Mortgages

Fixed rate mortgages for 15 and 30 year terms are available in West Virginia. The fixed rate mortgage is the most common type of mortgage available. Many people choose this kind of a loan, because they plan on being in their home for a long time. They know what interest rate they will pay, and they know it won't change. Monthly payments stay the same throughout the life of the loan. If interest rates go up, those having this type of a mortgage will not see their payments increase.

On the other hand, if rates go down, those with this type of a mortgage will not benefit from a lower payment. Rates have varied from 4% to 18%, but for those with this type of a mortgage, their payments have remained the same. Some West Virginia residents have chosen interest-only mortgages, because by paying only the interest on their homes, the rates and payments are low. The total amount owed on the home, however does not go down.

The national rate for a 15 year fixed rate mortgage is currently 4.36. For a 30 year fixed mortgage it is 4.89. Some loan companies quote rates in West Virginia from 4.75% to 4.875% for fixed rate 30 year loans and 4.250 for a fixed year 15 year loan. Although rates for these two types of loans may be less than nationally, online sources state that usually interest rates for most types of mortgages in West Virginia are pegged to the national averages.

West Virginia Conforming Mortgages

West Virginia Conforming Mortgages were established to support a certain a segment of the population that is low and middle class. Fannie Mae and Freddie Mac oversee the program, and the Federal Government provides the funding. The interest rates must be lower than with traditional loans. Interest rates lenders quoted online can vary, with some being as low as 4.625% up to 5.125%.

As of 2017 the conforming loan limit across the United States is set to $424,100, with a ceiling of 150% that amount in areas where median home values are higher. Local affordability makes the $424,100 ceiling apply across most the state for single unit homes. Dual unit homes have a limit of $543,000, triple unit homes have a limit of $656,350 & quadruple unit homes have a limit of $815,650. People buying properties in the suburban area of Washington D.C. have higher conforming mortgage thresholds.

County Metropolitan Designation 1 Unit Limit 2 Unit Limit 3 Unit Limit 4 Unit Limit
Jefferson Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475

Home buyers who are borrowing more than the above amounts will likely need to obtain a jumbo mortgage. Jumbo loans typically have a slightly higher rate of interest than conforming mortgages, though spreads vary based on credit market conditions.

5/5 and 5/1 Adjustable Interest Rate Mortgages

With these types of mortgages the monthly interest rate and monthly payment does not change for five years. At the beginning of the sixth year, the interest rate is adjusted. Beginning with the sixth year, the interest rate is adjusted every five years for the 5/5 mortgage. They are then adjusted every year for the 5/1 mortgage.

West Virginia Second Mortgages

Some people take out a West Virginia Second Mortgage to convert equity in their home into cash. Adjustable and fixed rate second mortgages are available. People often use the money from the loans for home improvement projects or to start businesses. Nationally, some companies quote rates of 4.25% for such a loan.

Natural Disasters

West Virginia has a very low risk of earthquakes or tornadoes.

Most of the state has a low to very low risk of hail. The following counties have a moderate risk of hail: Berkeley, Jefferson, Lewis, Morgan & Wood.

Most counties across the state have a very low risk of wildfires. Boone, Mingo & Raleigh have a low risk while Lincoln & Monroe have a moderate risk.

Flood Insurance

Homeowner's insurance policies typically do not cover flooding.

Most of the state of West Virginia has a relatively elevated flooding risk when compared against other states. Here are counties across the state which have a flooding risk profile above very low.

  • Low risk: Braxton, Fayette, Hancock, Hardy, Marion, Mercer, Monongalia
  • Moderate risk: Cabell, Clay, Greenbrier, Harrison, Jackson, Lewis, Logan, Mason, Mingo, Nicholas, Pleasants, Pocahontas, Preston, Putnam, Raleigh, Randolph, Summers, Taylor, Tyler, Wayne, Wirt, Wood, Wyoming
  • High risk: Brooke, Calhoun, Gilmer, Kanawha, Marshall, Mineral, Roane, Tucker, Upshur
  • Very high risk: Barbour, Boone, Lincoln , McDowell, Ohio, Webster, Wetzel

Home buyers with mortgages in high-risk areas are required to buy flood insurance. Most flood insurance policies are sold by the United States federal government through The National Flood Insurance Program. Under-priced flood insurance in high-risk areas act as a subsidy to wealthy homeowners.

The NFIP does not charge nearly enough to cover the expected costs of its liabilities. The assessments are not sufficient to build any buffer to cover an extraordinary year, such as what occurred with Hurricane Katrina in 2005 or Hurricane Sandy in 2012. Because homeowners don€™t incur the full cost of building in a flood zone we end up with more houses there than if homeowners incurred the full cost of the flood risk, which exacerbates the government€™s costs in the next disaster.

Typically, homes built after 2002, when building code regulations tightened, are subject to lower insurance rates than older homes. On the other hand, homes with roofs that do not meet current standards for wind, with older plumbing or with outdated electrical systems may be difficult €“ or very expensive €“ to insure.

Homeowners who live in lower risk areas & are not required to purchase flood insurance heavily cross-subsidize homeowners who are in areas where floods are more common.

Earthquakes

Most of West Virginia has a very low earthquake risk, while the southern edge of the state has a low earthquake risk. Standard rental and homeowner insurance policies typically do not cover earthquake damage, though they usually cover losses caused by fires which resulted from an earthquake. You can supplement your homeowner's insurance with an earthquake policy.

Hail

Hail damage is not uncommon across the state. Damage from hail is typically covered by home insurance policies.

Foreclosure Laws in West Virginia

As for foreclosure laws, West Virginia is a non-recourse state. That means if you face foreclosure, the lender cannot come after you if you default. In a recourse state a lender, even after he has taken your collateral, can bring legal cases against you, garnish your wages, and try to collect the money owed. With a non-recourse loan, however, the lender can only pursue your collateral, if you face default.

In West Virginia, a home buyer does not have the right of redemption if he goes through foreclosure. That is the right to buy his house back from the one who bought the house at foreclosure.

A home owner who goes through foreclosure has the right to reinstate his loan by bringing it current and paying all expenses, fees, and late charges. A ten day notice must be given. Once you do so, you can continue to make payments as though you were never in default. If you are ever behind on your payments again, the lender will have to start foreclosure proceedings all over again. If a notice to default is served three or more times, however, there is no longer a right to reinstate.

Deficiency judgments are allowed after a foreclosure in West Virginia. Under a deficiency judgment a plaintiff may obtain a judgment lien against a defendant whose foreclosure sale did not produce enough money to satisfy the amount owed on the mortgage.

New River Gorge Bridge in West Virginia.