Total monthly cost of ownership
Cost to Own a Home in Shady Spring, West Virginia
A $192,000 home here costs
$1,621per 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 $69,500 a year.
A standard mortgage calculator would have told you $1,047. The real number is $574 higher every month, 55% more than the payment most buyers budget for.
Compare Raleigh County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Shady Spring from a five-year rolling sample, and with about 3,455 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Raleigh County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Shady Spring against Raleigh County and West Virginia
| Measure | Shady Spring | Raleigh County |
|---|---|---|
| Median home value | $192,000 | $142,600 |
| Median property tax | $929 | $733 |
| Effective tax rate | 0.484% | 0.514% |
| Median gross rent | $923 | $847 |
| Population | 3,455 | 73,666 |
The weather behind that power bill
Shady Spring sits in Raleigh County, which averages a high of 79.1°F in its hottest month and a low of 19.3°F in its coldest, with 43.36" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 351 cooling and 5,904 heating degree days, which is what sets the $168 electricity line above.
See the full climate breakdown for Raleigh County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Raleigh County
Full Raleigh County cost breakdown · Every county in West Virginia
Talk to someone who works this market
These are Shady Spring 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 Shady Spring every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Shady Spring I already own here and may sell
Common questions
How much does it cost to own a home in Shady Spring?
A $192,000 home in Shady Spring, West Virginia costs approximately $1,621 per month with 20% down at 7.24%. That is $1,047 principal and interest, $77 property tax, $101 homeowners insurance, $236 utilities and $160 set aside for maintenance.
What is the property tax rate in Shady Spring?
Shady Spring has an effective property tax rate of 0.484%, based on a median home value of $192,000 and median real estate taxes of $929. That is lower than the Raleigh County average of 0.514%.
What is the average home price in Shady Spring?
The median owner-occupied home value in Shady Spring, West Virginia is $192,000, against $142,600 across Raleigh County.
Is it cheaper to rent or buy in Shady Spring?
Median gross rent in Shady Spring is $923 a month, against $1,621 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 Shady Spring?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Shady Spring, West Virginia at today's rate takes a household income of roughly $69,500 a year. That covers the full $1,621 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Shady Spring, 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.