26847, Petersburg, WV

Petersburg, WV is located in Kanawha County and has a population of just over 10,000. The 26847 zip code covers just over 2 square miles and has a median home value of $128,900. Home equity in the 26847 zip code has increased by almost 50% since 2007, when the median home value was $92,200. This increase can be attributed to several factors including an increase in home prices statewide as well as an increase in home equity among Petersburg residents.

The average monthly mortgage payment for a Petersburg resident with a 30-year fixed-rate mortgage is $1,521. This compares favorably to the national average of $1,729 and indicates that homeownership rates are high in the 26847 zip code. Additionally, approximately 60% of Petersburg residents own their homes outright or have a loan against their home equity that is not subject to interest payments. This high level of homeownership indicates that there is strong demand for housing in the 26847 zip code and that potential buyers are able to afford homes at reasonable prices.

Despite these positive trends, there are some areas where homeownership rates may be lower than desirable levels. For example, approximately 20% of Petersburg residents live in rental apartments which may indicate that there is room for improvement in terms of housing affordability within the city limits. Additionally, while home values have increased significantly over the past few years, incomes have not kept pace which could lead to decreased access to affordable housing options for some residents within the 26847 zip code moving forward.