Total monthly cost of ownership
Cost to Own a Home in New Martinsville, West Virginia
A $113,000 home here costs
$1,073per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $46,000 a year.
A standard mortgage calculator would have told you $616. The real number is $457 higher every month, 74% more than the payment most buyers budget for.
Compare Wetzel County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
New Martinsville against Wetzel County and West Virginia
| Measure | New Martinsville | Wetzel County |
|---|---|---|
| Median home value | $112,600 | $102,800 |
| Median property tax | $806 | $664 |
| Effective tax rate | 0.716% | 0.646% |
| Median gross rent | $718 | $703 |
| Population | 5,175 | 14,233 |
The weather behind that power bill
New Martinsville sits in Wetzel County, which averages a high of 84.1°F in its hottest month and a low of 18.7°F in its coldest, with 51.44" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 667 cooling and 5,739 heating degree days, which is what sets the $168 electricity line above.
See the full climate breakdown for Wetzel County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Wetzel County
Full Wetzel County cost breakdown · Every county in West Virginia
Talk to someone who works this market
These are New Martinsville averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works New Martinsville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in New Martinsville I already own here and may sell
Common questions
How much does it cost to own a home in New Martinsville?
A $113,000 home in New Martinsville, West Virginia costs approximately $1,073 per month with 20% down at 7.24%. That is $616 principal and interest, $67 property tax, $60 homeowners insurance, $236 utilities and $94 set aside for maintenance.
What is the property tax rate in New Martinsville?
New Martinsville has an effective property tax rate of 0.716%, based on a median home value of $112,600 and median real estate taxes of $806. That is higher than the Wetzel County average of 0.646%.
What is the average home price in New Martinsville?
The median owner-occupied home value in New Martinsville, West Virginia is $112,600, against $102,800 across Wetzel County.
Is it cheaper to rent or buy in New Martinsville?
Median gross rent in New Martinsville is $718 a month, against $1,073 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in New Martinsville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in New Martinsville, West Virginia at today's rate takes a household income of roughly $46,000 a year. That covers the full $1,073 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for New Martinsville, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for West Virginia.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.