Parkersburg, WV
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Parkersburg, 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 Q2 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Parkersburg Housing Market Information

With a population of 30,991, 13,467 total housing units (homes and apartments), and a median house value of $109,396, house prices in Parkersburg are solidly below the national average.

Single-family detached homes are the single most common housing type in Parkersburg, accounting for 74.66% of the city's housing units. Other types of housing that are prevalent in Parkersburg include large apartment complexes or high rise apartments ( 11.57%), duplexes, homes converted to apartments or other small apartment buildings ( 11.10%), and a few mobile homes or trailers ( 1.63%).

The most prevalent building size and type in Parkersburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.86% owning and 40.14% renting.

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. Parkersburg's housing was primarily built during this period, from the '40s through the '60s. A full 47.87% of the city's housing hails from this era. Other housing ages represented in Parkersburg include homes built before 1939 ( 26.54%) and housing constructed between 1970-1999 ( 22.02%). There's also some housing in Parkersburg built between 2000 and later ( 3.57%).

Vacant housing appears to be an issue in Parkersburg. Fully 13.47% of the housing stock is classified as vacant. Left unchecked, vacant Parkersburg homes and apartments can be a drag on the real estate market, holding Parkersburg 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.

Parkersburg Home Appreciation Rates

In the last 10 years, Parkersburg has experienced some of the highest home appreciation rates of any community in the nation. Parkersburg real estate appreciated 16.41% over the last ten years, which is an average annual home appreciation rate of 1.53%, putting Parkersburg in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Parkersburg definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Parkersburg that despite a nationwide downturn in the housing market, Parkersburg real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Parkersburg appreciation rates continue to be some of the highest in America, at 12.61%, which is higher than appreciation rates in 98.22% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Parkersburg. Parkersburg appreciation rates in the latest quarter were at 10.09%, which equates to an annual appreciation rate of 46.87%.

Importantly, NeighborhoodScout’s exclusive research found that Parkersburg's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to West Virginia, our data show that Parkersburg's latest annual appreciation rate is higher than 90% 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 Parkersburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Parkersburg - 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 2000, to assist you in making the best Parkersburg real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$109,396

Parkersburg, WV HOME PRICES

Value Range
> $1,142,000 0.0
$857,001 - $1,142,000 0.2
$571,001 - $857,000 0.2
$457,001 - $571,000 0.1
$342,001 - $457,000 1.5
$228,001 - $342,000 4.7
$114,001 - $228,000 32.9
$57,001 - $114,000 40.9
$0 - $57,000 19.6

High for WV
Low for Nation

Value Relative to Nation Value Relative to State
72.8321330288659 39.7435897435897

Number Of Homes And Apartments:
13,467

Parkersburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WV*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
31.32% 1.57% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$926 / per month

Homeownership Rate

Homeownership
Owners 59.86
Renters 40.14
Vacant 13.47

Housing Market Details

 

Age of Homes

AGE OF Parkersburg HOMES
2000 or Newer 3.6
1970 - 1999 22.0
1940 - 1969 47.9
1939 or Older 26.5

Types of Homes

TYPE OF Parkersburg HOMES
Single-Family 74.7
Townhomes 1.0
Small Apt. Buildings 11.1
Apt. Complexes 11.6
Mobile Homes 1.6
Other 0.0

Home Size

SIZE OF Parkersburg HOMES
No Bedroom 0.96
1 Bedroom 11.29
2 Bedrooms 32.82
3 Bedrooms 41.41
4 Bedrooms 10.56
5 or more bedrooms 2.96