26508, Morgantown, WV

Morgantown, WV is located in the Eastern Panhandle of West Virginia. The 26508 zip code covers an area of approximately 2 square miles and has a population of approximately 21,000. The median household income in the 26508 zip code is $42,500 and the median family income is $52,000. Home prices in Morgantown have increased significantly over the past several years and are now among the highest in West Virginia.

The average home price in Morgantown was $128,200 as of September 2017. This represents a growth rate of 9% over the past year and a growth rate of 17% over the past three years. The average home value as of September 2017 was $145,600 which is significantly higher than the statewide average home value of $118,400. In addition to high home values, Morgantown also has some of the highest home equity values in West Virginia. As of September 2017, 78%of households in the 26508 zip code had at least some equity in their homes compared to only 54%of households statewide. This indicates that homeownership rates are much higher in Morgantown than statewide averages.

One reason for this high level of homeownership may be that there are relatively few available housing units compared to other areas within West Virginia. As a result, buyers who want to purchase a home must compete with each other for limited inventory options. Additionally, Morgantown has been experiencing strong job growth over recent years which may also contribute to increased demand for homes and higher home prices..