Parkersburg, 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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Parkersburg, WV Housing Market Trends

With a population of 29,306, 13,086 total housing units (homes and apartments), and a median house value of $98,258, house prices in Parkersburg are solidly below the national average.

Single-family detached homes are the single most common housing type in Parkersburg, accounting for 73.24% of the city's housing units. Other types of housing that are prevalent in Parkersburg include duplexes, homes converted to apartments or other small apartment buildings ( 12.01%), large apartment complexes or high rise apartments ( 11.74%), and a few mobile homes or trailers ( 1.54%).

The most prevalent building size and type in Parkersburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.46% owning and 40.54% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Parkersburg's housing was primarily built during this period, from the '40s through the '60s. A full 45.22% of the city's housing hails from this era. Other housing ages represented in Parkersburg include homes built before 1939 ( 28.92%) and housing constructed between 1970-1999 ( 22.14%). There's also some housing in Parkersburg built between 2000 and later ( 3.72%).

Vacant housing appears to be an issue in Parkersburg. Fully 13.41% of the housing stock is classified as vacant. Left unchecked, vacant Parkersburg homes and apartments can be a drag on the real estate market, holding Parkersburg real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Parkersburg Home Appreciation Rates

Parkersburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Parkersburg during the period has been just 2.34%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Parkersburg's appreciation rate, at 10.12%, has been at or slightly above the national average. In the latest quarter, Parkersburg's appreciation rate has been 3.27%, which annualizes to a rate of 13.72%.

Relative to West Virginia, our data show that Parkersburg's latest annual appreciation rate is higher than 90% 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 Parkersburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Parkersburg - 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 Parkersburg real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$98,258

Parkersburg, WV HOME PRICES

> $1,127,000
0.0%
0.0%
$845,001 - $1,127,000
0.1%
0.1%
$564,001 - $845,000
0.4%
0.4%
$451,001 - $564,000
0.1%
0.1%
$338,001 - $451,000
0.9%
0.9%
$225,001 - $338,000
6.7%
6.7%
$113,001 - $225,000
33.1%
33.1%
$57,001 - $113,000
41.6%
41.6%
$0 - $57,000
17.1%
17.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Low for WV

Value Relative To Nation

Number Of Homes And Apartments:
13,086

Parkersburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WV*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
37.65% 1.50%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$878 / per month

Homeownership Rate

Owners
59.5%
59.5%
Renters
40.5%
40.5%
Vacant
13.4%
13.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
3.7%
3.7%
1970 - 1999
22.1%
22.1%
1940 - 1969
45.2%
45.2%
1939 or Older
28.9%
28.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
73.2%
73.2%
Townhomes
1.5%
1.5%
Small Apt. Buildings
12.0%
12.0%
Apt. Complexes
11.7%
11.7%
Mobile Homes
1.5%
1.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.2%
2.2%
1 Bedroom
11.1%
11.1%
2 Bedrooms
31.7%
31.7%
3 Bedrooms
40.0%
40.0%
4 Bedrooms
11.0%
11.0%
5 or more bedrooms
4.0%
4.0%
0.0% 100.0%
% OF HOMES