How much income do you need to buy a home in West Virginia?

Charleston, West Virginia (WOWK) — According to Zillow, the average home price in West Virginia is $145,991. How much will it cost to buy a house if I am planning to buy a house in the Mountain States?

In West Virginia, according to Zillow, the average West Virginia home price is $211,553 lower than the national average, and the median household income is $50,884, according to the 2020 Census.

If your annual income is $50,884 and your down payment is 20% of your annual income, or $10,176.80, you can buy a house in West Virginia valued at $156,941.62. HSHMoreThis means a monthly debt service of $250, an interest rate set at 6.480%, a loan term of 30 years, an annual property tax of 1%, an annual property insurance of 0.5%, an initial ratio of 28%, When the backend ratio is 36%. exit ratio.