Typical West Virginia mortgage payment
The median home price in West Virginia is roughly $165,000. Here's the estimated monthly principal & interest payment on that amount, by rate and term:
| Rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $1,305 | $886 |
| 5.50% | $1,348 | $937 |
| 6.00% | $1,392 | $989 |
| 6.50% | $1,437 | $1,043 |
| 7.00% | $1,483 | $1,098 |
| 7.50% | $1,530 | $1,154 |
| 8.00% | $1,577 | $1,211 |
| 8.50% | $1,625 | $1,269 |
| 9.00% | $1,674 | $1,328 |
| 9.50% | $1,723 | $1,387 |
| 10.00% | $1,773 | $1,448 |
What a West Virginia mortgage really costs (PITI)
Principal & interest alone would run about $1,043/month at 6.50% over 30 years. But West Virginia's property tax - roughly 0.58% of home value per year here - adds about $80/month, and estimated homeowners insurance adds around $48/month. Your real total monthly payment (PITI) on a $165,000 West Virginia home is closer to $1,171/month.
Using the standard 28%-of-income guideline, comfortably affording this home takes a household income around $50,177/year. A 20% down payment here is $33,000.
West Virginia vs. its neighbors
West Virginia has the lowest estimated total monthly payment of its bordering states.
| State | Median price | Property tax rate | Est. total monthly (PITI) |
|---|---|---|---|
| West Virginia (this page) | $165,000 | 0.58% | $1,171/mo |
| Kentucky | $215,000 | 0.86% | $1,576/mo |
| Ohio | $230,000 | 1.59% | $1,826/mo |
| Pennsylvania | $270,000 | 1.58% | $2,141/mo |
| Virginia | $400,000 | 0.82% | $2,918/mo |
| Maryland | $420,000 | 1.09% | $3,159/mo |
What affects your West Virginia payment?
- Property tax above is a statewide estimate - your county's actual rate may differ.
- Down payment: 20% down avoids private mortgage insurance (PMI).
- Loan term: a 15-year loan saves enormous interest vs. 30 years.
Median price, property tax rate and insurance are approximate estimates, not county-specific figures. Not financial advice.