Morgantown appreciation rates and housing market information

Morgantown housing market information

With 27,161 people, 11,808 houses or apartments, and a median cost of homes of $180,311, Morgantown real estate is some of the most expensive in West Virginia, although Morgantown home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Morgantown, accounting for 47.67% of the city's housing units. Other types of housing that are prevalent in Morgantown include duplexes, homes converted to apartments, or other small apartment buildings (26.02%), large apartment complexes or high rise apartments (20.95%), mobile homes or trailers (3.63%), and a few row houses and other attached homes (1.73%).

People in Morgantown primarily live in small (one, two, or no bedroom) single-family detached homes. Morgantown has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Morgantown's housing was primarily built during this period, from the '40s through the '60s. A full 42.09% of the city's housing hails from this era. Other housing ages represented in Morgantown include homes built between 1939 and earlier (28.86%), and housing constructed from 1970-1994 (24.14%). There's also some housing in Morgantown built between 1995 and later (4.91%).

Morgantown home appreciation rates

Real estate appreciation rates in Morgantown have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.84% during the period.

NeighborhoodScout's data show that during the latest twelve months, Morgantown home appreciation rates, at 0.95%, have been at or slightly above the national average. In the latest quarter, Morgantown's appreciation rate has been 0.92%, which annualizes to a rate of 3.68%.

Relative to West Virginia, our data show that Morgantown's latest annual appreciation rate is higher than 41% of the other cities and towns in West Virginia.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Morgantown differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Morgantown - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Morgantown real estate investment or home purchase decisions.