Elkview WV
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Elkview, WV Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Elkview Housing Market Information

With a population of 1,218, 644 total housing units (homes and apartments), and a median house value of $178,937, Elkview real estate is some of the most expensive in West Virginia, although Elkview home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Elkview, accounting for 66.35% of the town's housing units. Other types of housing that are prevalent in Elkview include mobile homes or trailers ( 28.36%), duplexes, homes converted to apartments or other small apartment buildings ( 3.66%), and a few large apartment complexes or high rise apartments ( 1.63%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Elkview. Owner-occupied housing accounts for 73.14% of Elkview's homes, and 54.68% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Elkview built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Elkview built between 1940-1969 ( 33.92%). A lesser amount of the housing stock also hails from before 1939 ( 11.80%). There's also some housing in Elkview built between 2000 and later ( 8.55%).

Vacant housing appears to be an issue in Elkview. Fully 12.62% of the housing stock is classified as vacant. Left unchecked, vacant Elkview homes and apartments can be a drag on the real estate market, holding Elkview 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.

Elkview Home Appreciation Rates

Real estate appreciation rates in Elkview's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 1.33% during the period.

Appreciation rates are so strong in Elkview that despite a nationwide downturn in the housing market, Elkview real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Elkview appreciation rates continue to be some of the highest in America, at 8.91%, which is higher than appreciation rates in 96.44% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Elkview. Elkview appreciation rates in the latest quarter were at 0.25%, which equates to an annual appreciation rate of 0.99%.

Notably, Elkview's appreciation rate in the latest quarter is one of the lowest in America.

Relative to West Virginia, our data show that Elkview's latest annual appreciation rate is higher than 80% of the other cities and towns in West Virginia.

Average Home Values

 

Median Home Value:
$178,937

Elkview, WV HOME PRICES

Value Range
> $1,127,000 1.1
$846,001 - $1,127,000 0.0
$564,001 - $846,000 1.3
$451,001 - $564,000 0.0
$338,001 - $451,000 3.7
$226,001 - $338,000 14.8
$113,001 - $226,000 44.0
$56,001 - $113,000 24.7
$0 - $56,000 10.5

Very High for WV
Average for Nation

Value Relative to Nation Value Relative to State
46.7678832116788 13.2478632478632

Number Of Homes And Apartments:
644

Elkview Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WV*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
39.19% 1.69%
2
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,017 / per month

Homeownership Rate

Homeownership
Owners 73.14
Renters 26.86
Vacant 12.62

Housing Market Details

 

Age of Homes

AGE OF Elkview HOMES
2000 or Newer 8.5
1970 - 1999 45.7
1940 - 1969 33.9
1939 or Older 11.8

Types of Homes

TYPE OF Elkview HOMES
Single-Family 66.4
Townhomes 0.0
Small Apt. Buildings 3.7
Apt. Complexes 1.6
Mobile Homes 28.4
Other 0.0

Home Size

SIZE OF Elkview HOMES
No Bedroom 0.00
1 Bedroom 1.63
2 Bedrooms 42.47
3 Bedrooms 47.35
4 Bedrooms 7.33
5 or more bedrooms 1.22

Popular Neighborhoods in Elkview

Zip Codes in Elkview, WV