Total monthly cost of ownership
Cost to Own a Home in Terra Alta, West Virginia
A $96,000 home here costs
$941per 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 $40,500 a year.
A standard mortgage calculator would have told you $523. The real number is $418 higher every month, 80% more than the payment most buyers budget for.
Compare Preston County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Terra Alta from a five-year rolling sample, and with about 1,992 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 Preston 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.
Terra Alta against Preston County and West Virginia
| Measure | Terra Alta | Preston County |
|---|---|---|
| Median home value | $95,900 | $157,700 |
| Median property tax | $620 | $747 |
| Effective tax rate | 0.647% | 0.474% |
| Median gross rent | $744 | $753 |
| Population | 1,992 | 34,204 |
The weather behind that power bill
Terra Alta sits in Preston County, which averages a high of 76.7°F in its hottest month and a low of 17.7°F in its coldest, with 57.01" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 276 cooling and 6,562 heating degree days, which is what sets the $168 electricity line above.
See the full climate breakdown for Preston County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Preston County
Full Preston County cost breakdown · Every county in West Virginia
Talk to someone who works this market
These are Terra Alta 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 Terra Alta every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Terra Alta I already own here and may sell
Common questions
How much does it cost to own a home in Terra Alta?
A $96,000 home in Terra Alta, West Virginia costs approximately $941 per month with 20% down at 7.24%. That is $523 principal and interest, $52 property tax, $51 homeowners insurance, $236 utilities and $80 set aside for maintenance.
What is the property tax rate in Terra Alta?
Terra Alta has an effective property tax rate of 0.647%, based on a median home value of $95,900 and median real estate taxes of $620. That is higher than the Preston County average of 0.474%.
What is the average home price in Terra Alta?
The median owner-occupied home value in Terra Alta, West Virginia is $95,900, against $157,700 across Preston County.
Is it cheaper to rent or buy in Terra Alta?
Median gross rent in Terra Alta is $744 a month, against $941 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 Terra Alta?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Terra Alta, West Virginia at today's rate takes a household income of roughly $40,500 a year. That covers the full $941 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Terra Alta, 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.