In 2021, 79% of the West Virginia population were homeowners, the highest homeownership rate in the United States. At $99,000, West Virginia has the country’s lowest median home value. The state's average outstanding mortgage balance is $110,464, which is also the country's lowest. That's an $11,464 discrepancy.
West Virginia's average monthly payment of $989 is one of the lowest mortgage payments in the country. Given the state's average monthly household income of $5,102, mortgage payments account for around one-fifth of monthly income for West Virginians.
Note that these are average costs; your mortgage payment can depend on many factors. Our West Virginia state mortgage calculator can give you a rough estimate of your mortgage payments based on the loan amount, down payment, term and interest rate you provide.