Wheeling appreciation rates and housing market information

Wheeling housing market information

With 31,301 people, 15,622 houses or apartments, and a median cost of homes of $111,777, house prices in Wheeling are solidly below the national average.

single-family detached homes are the single most common housing type in Wheeling, accounting for 58.19% of the city's housing units. Other types of housing that are prevalent in Wheeling include duplexes, homes converted to apartments, or other small apartment buildings (18.34%), large apartment complexes or high rise apartments (17.28%), row houses and other attached homes (5.43%), and a few mobile homes or trailers (0.74%).

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

The housing in Wheeling was primarily built before 1939 (49.42%), making the housing stock in Wheeling some of the older overall in America, although there is a range of ages of homes in Wheeling. The next most important Wheeling housing age is 1940-1969 (33.49%), followed by 1970-1994 (15.42%). There's also some housing in Wheeling built between 1995 and later (1.67%).

Vacant housing appears to be an issue in Wheeling. Fully 12.61% of the housing stock is classified as vacant. Left unchecked, vacant Wheeling homes and apartments can be a drag on the real estate market, holding Wheeling real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Wheeling home appreciation rates

Wheeling's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Wheeling during the period has been just 4.24%, which is lower than % of US communities.

NeighborhoodScout's data show that during the latest twelve months, Wheeling home appreciation rates, at 0.67%, have been at or slightly above the national average. In the latest quarter, Wheeling's appreciation rate has been 1.33%, which annualizes to a rate of 5.32%.

Relative to West Virginia, our data show that Wheeling's latest annual appreciation rate is higher than 32% 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 Wheeling differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wheeling - 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 Wheeling real estate investment or home purchase decisions.