West Virginia Mortgage Calculator
Estimate your monthly mortgage payment in West Virginia with state-specific property tax, insurance, and homestead data pre-loaded. Median home value in West Virginia is $170,000 with an effective property tax rate of 0.59%.
Mortgage Calculator
Estimate your monthly payment including taxes, insurance, and PMI.
Optional
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
Year 1 | $10,315.32 | $1,520.07 | $8,795.25 | $134,479.93 |
| 1 | $859.61 | $122.94 | $736.67 | $135,877.06 |
| 2 | $859.61 | $123.61 | $736.00 | $135,753.45 |
| 3 | $859.61 | $124.28 | $735.33 | $135,629.17 |
| 4 | $859.61 | $124.95 | $734.66 | $135,504.22 |
| 5 | $859.61 | $125.63 | $733.98 | $135,378.59 |
| 6 | $859.61 | $126.31 | $733.30 | $135,252.28 |
| 7 | $859.61 | $126.99 | $732.62 | $135,125.29 |
| 8 | $859.61 | $127.68 | $731.93 | $134,997.61 |
| 9 | $859.61 | $128.37 | $731.24 | $134,869.24 |
| 10 | $859.61 | $129.07 | $730.54 | $134,740.17 |
| 11 | $859.61 | $129.77 | $729.84 | $134,610.40 |
| 12 | $859.61 | $130.47 | $729.14 | $134,479.93 |
Year 2 | $10,315.32 | $1,621.88 | $8,693.44 | $132,858.05 |
Year 3 | $10,315.32 | $1,730.49 | $8,584.83 | $131,127.56 |
Year 4 | $10,315.32 | $1,846.40 | $8,468.92 | $129,281.16 |
Year 5 | $10,315.32 | $1,970.06 | $8,345.26 | $127,311.10 |
What is a Mortgage Calculator?
A mortgage calculator helps you estimate your total monthly housing payment, including principal, interest, property taxes, home insurance, and private mortgage insurance (PMI). This gives you a complete picture of what homeownership will cost each month.
Unlike a simple loan calculator, a mortgage calculator accounts for additional costs that come with buying a home. Property taxes and insurance are typically required by lenders to be included in your monthly payment through an escrow account.
All calculations happen in your browser. No financial data is sent to any server, so your information stays completely private.
West Virginia Housing Snapshot
| Median Home Value | $170,000 |
| Effective Property Tax Rate | 0.59% |
| Estimated Annual Property Tax | $1,003 |
| State Income Tax | Up to 5.12% |
| Homestead Exemption | $20,000 for seniors (65+) or disabled homeowners |
| Avg Homeowners Insurance | $1,115/yr |
| Transfer & Recording Taxes | Transfer tax $1.10 per $500 (0.22%) state plus county; mortgage tax $1.10 per $500 of mortgage |
What Makes Buying in West Virginia Different
West Virginia offers the second-lowest median home value in the US at $170,000, behind only Mississippi. The effective property tax rate is among the lowest in the country at 0.59%. The state has been working to reduce state income tax, with the top rate at 5.12% and scheduled additional reductions. The Senior Homestead Exemption removes $20,000 in assessed value for homeowners aged 65 or older or those totally disabled. Morgantown (West Virginia University) has the strongest housing market with a $245,000 median, while Charleston and Huntington remain below $150,000. The state's affordability has attracted retirees from neighboring Maryland, Pennsylvania, and Virginia seeking lower cost of living. Insurance is reasonable at $1,115 per year. Eastern Panhandle counties (Jefferson, Berkeley) function as Washington DC commuter areas with prices significantly higher than the rest of the state. The mortgage tax of $1.10 per $500 of mortgage amount (0.22%) adds meaningfully to closing costs.
Top Cities in West Virginia
| City | Median Home Value |
|---|---|
| Charleston | $145,000 |
| Huntington | $125,000 |
| Morgantown | $245,000 |
| Parkersburg | $135,000 |
| Wheeling | $135,000 |
Yes. West Virginia has the second-lowest median home value in the US at $170,000, second-lowest after Mississippi. Combined with one of the lowest effective property tax rates (0.59%), the total cost of owning a median-priced home is dramatically lower than the US average. The economic tradeoff is weaker job market and slower wage growth compared to neighboring states.
Homeowners aged 65 or older, or those totally disabled, qualify for a $20,000 reduction in assessed value on their primary residence. There is no income limit. Apply with your county assessor by July 1. On a $170,000 median home, the exemption reduces the taxable base meaningfully, providing real savings to retirees who have long been a major component of West Virginia's homebuyer demographic.
Morgantown is home to West Virginia University (28,000+ students) and a growing tech and healthcare employment base. The university and its medical center provide a stable employment base that supports both purchases and rentals. Median home value of $245,000 is significantly above the state average. Eastern Panhandle counties along the I-81 corridor also have higher prices due to DC commuter influence.
Home Affordability Calculator
Find out how much house you can afford based on income, debts, and down payment.
How Much House Can I Afford?
Complete guide with the 28/36 rule, salary-based estimates, and free calculator.
Mortgage Calculator
Estimate monthly mortgage payments including taxes, insurance, and PMI.