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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Wheeling, WV Real Estate Market

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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Wheeling, WV Housing Market Trends

With a population of 26,391, 11,737 total housing units (homes and apartments), and a median house value of $155,057, 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 62.07% of the city's housing units. Other types of housing that are prevalent in Wheeling include large apartment complexes or high rise apartments ( 15.79%), duplexes, homes converted to apartments or other small apartment buildings ( 15.38%), and a few row houses and other attached homes ( 5.79%).

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 ( 42.67%), making the housing stock in Wheeling some of the oldest overall in America, although there is a range of ages of homes in Wheeling. The next most important housing age is between 1940-1969 ( 32.54%), followed by between 1970-1999 ( 20.05%). There's also some housing in Wheeling built between 2000 and later ( 4.74%).

Vacant housing appears to be an issue in Wheeling. Fully 20.11% 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

Some of the lowest real estate appreciation rates in America over the last ten years have been in Wheeling, where house values have increased just 43.09%, which is annualized rate of 3.65%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Wheeling appreciation rates have trailed the rest of the nation. In the last twelve months, Wheeling's appreciation rate has been 2.85%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wheeling were at 6.55%, which equates to an annual appreciation rate of 28.87%.

Importantly, NeighborhoodScout’s exclusive research found that Wheeling'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 Wheeling's latest annual appreciation rate is higher than 50% 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 2000, to assist you in making the best Wheeling real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$155,057

Wheeling, WV Home Prices
> $1,219,000
$914,001 - $1,219,000
$609,001 - $914,000
$487,001 - $609,000
$366,001 - $487,000
$244,001 - $366,000
$122,001 - $244,000
$61,001 - $122,000
$0 - $61,000
0.7%
0.7%
0.4%
0.4%
1.7%
1.7%
1.6%
1.6%
4.9%
4.9%
11.4%
11.4%
34.3%
34.3%
30.4%
30.4%
14.5%
14.5%
0% 100.0%
% of Homes
Average

for West virginia

Low

for nation

Number of Homes And Apartments:

11,737

Wheeling Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,248 / per month

Homeownership Rate

Owners
Renters
Vacant
59.0%
59.0%
41.0%
41.0%
20.1%
20.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
4.7%
4.7%
20.1%
20.1%
32.5%
32.5%
42.7%
42.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.1%
62.1%
5.8%
5.8%
15.4%
15.4%
15.8%
15.8%
1.0%
1.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.8%
2.8%
16.4%
16.4%
29.6%
29.6%
36.3%
36.3%
12.3%
12.3%
2.5%
2.5%
0% 100.0%
% of Homes