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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Martinsburg, WV Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Martinsburg, WV Housing Market Trends

With 18,953 people, 7,590 houses or apartments, and a median cost of homes of $245,550, Martinsburg real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Martinsburg, accounting for 54.40% of the city's housing units. Other types of housing that are prevalent in Martinsburg include large apartment complexes or high rise apartments ( 18.57%), duplexes, homes converted to apartments or other small apartment buildings ( 13.51%), and a few row houses and other attached homes ( 13.42%).

The most prevalent building size and type in Martinsburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.48% owning and 51.52% renting.

The housing in Martinsburg was primarily built before 1939 ( 30.69%), making the housing stock in Martinsburg some of the oldest overall in America, although there is a range of ages of homes in Martinsburg. The next most important housing age is between 1970-1999 ( 27.96%), followed by between 1940-1969 ( 24.77%). There's also some housing in Martinsburg built between 2000 and later ( 16.59%).

Martinsburg Home Appreciation Rates

Appreciation rates for homes in Martinsburg have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 87.94%, which ranks in the top 50% nationwide. This equates to an annual average Martinsburg house appreciation rate of 6.51%.

Over the last year, Martinsburg appreciation rates have trailed the rest of the nation. In the last twelve months, Martinsburg's appreciation rate has been 4.37%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Martinsburg were at 1.12%, which equates to an annual appreciation rate of 4.56%.

Relative to West Virginia, our data show that Martinsburg's latest annual appreciation rate is lower than 80% of the other cities and towns in West Virginia.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Martinsburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Martinsburg - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Martinsburg real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$245,550

Martinsburg, WV Home Prices
> $1,384,000
$1,038,001 - $1,384,000
$692,001 - $1,038,000
$554,001 - $692,000
$415,001 - $554,000
$277,001 - $415,000
$138,001 - $277,000
$69,001 - $138,000
$0 - $69,000
0.1%
0.1%
0.8%
0.8%
1.5%
1.5%
4.1%
4.1%
9.8%
9.8%
30.3%
30.3%
38.1%
38.1%
10.8%
10.8%
4.4%
4.4%
0% 100.0%
% of Homes
Very High

for West virginia

Average

for nation

Number of Homes And Apartments:

7,590

Martinsburg Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,627 / per month

Homeownership Rate

Owners
Renters
48.5%
48.5%
51.5%
51.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.6%
4.6%
95.4%
95.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
16.6%
16.6%
28.0%
28.0%
24.8%
24.8%
30.7%
30.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
54.4%
54.4%
13.4%
13.4%
13.5%
13.5%
18.6%
18.6%
0.1%
0.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.6%
1.6%
13.2%
13.2%
27.5%
27.5%
42.1%
42.1%
11.9%
11.9%
3.7%
3.7%
0% 100.0%
% of Homes