Morgantown, WV Federal Housing Finance Agency Home Price Index (FHFA HPI)

In Morgantown, WV, the Federal Housing Finance Agency (FHFA) house price index (HPI) shows that home equity and home prices have increased steadily over the past few years. In 2019, the HPI was up 4.5% from the previous year, and in 2020 it is expected to rise another 3%. This means that Morgantown homeowners have seen their equity increase by an average of $7,500 over the past two years.

The FHFA HPI is a broad measure of home prices in the United States. It is based on data from Fannie Mae and Freddie Mac, which purchase mortgages from lenders and package them into securities that are then sold to investors. The HPI covers single-family homes with mortgages that have been securitized by Fannie Mae or Freddie Mac.

Morgantown is a small city in West Virginia with a population of just over 30,000 people. It is located about 60 miles south of Pittsburgh, PA. The city has a diverse economy with healthcare, education, and tourism being the main drivers. Morgantown is also home to West Virginia University, which has an enrollment of over 29,000 students.

The housing market in Morgantown has been strong in recent years due to population growth from both new residents and students attending West Virginia University. The vacancy rate for rental properties was just 2% in 2019 according to Realtor.com . This tight supply has helped push up rents by 3% over the past year while home prices have increased at a slightly slower pace of 2%.

Looking forward, the strong job market in Morgantown is expected to continue supporting population growth which will help keep demand for housing high. Additionally, mortgage rates are forecasted to remain low throughout 2020 which will make purchasing a home more affordable for many buyers . These factors should lead to continued increases in both home prices and equity values for Morgantown homeowners .