Total monthly cost of ownership
Cost to Own a Home in Welch, West Virginia
A $57,000 home here costs
$655per 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 $28,000 a year.
A standard mortgage calculator would have told you $311. The real number is $344 higher every month, 111% more than the payment most buyers budget for.
Compare McDowell County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Welch from a five-year rolling sample, and with about 3,492 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 McDowell 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.
Welch against McDowell County and West Virginia
| Measure | Welch | McDowell County |
|---|---|---|
| Median home value | $56,500 | $49,200 |
| Median property tax | $367 | $278 |
| Effective tax rate | 0.650% | 0.565% |
| Median gross rent | — | $686 |
| Population | 3,492 | 18,413 |
The weather behind that power bill
Welch sits in McDowell County, which averages a high of 78.9°F in its hottest month and a low of 23.8°F in its coldest, with 41.24" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 536 cooling and 5,219 heating degree days, which is what sets the $168 electricity line above.
See the full climate breakdown for McDowell County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in McDowell County
No other places of this size are published in McDowell County.
Full McDowell County cost breakdown · Every county in West Virginia
Talk to someone who works this market
These are Welch 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 Welch every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Welch?
A $57,000 home in Welch, West Virginia costs approximately $655 per month with 20% down at 7.24%. That is $311 principal and interest, $31 property tax, $30 homeowners insurance, $236 utilities and $48 set aside for maintenance.
What is the property tax rate in Welch?
Welch has an effective property tax rate of 0.650%, based on a median home value of $56,500 and median real estate taxes of $367. That is higher than the McDowell County average of 0.565%.
What is the average home price in Welch?
The median owner-occupied home value in Welch, West Virginia is $56,500, against $49,200 across McDowell County.
Is it cheaper to rent or buy in Welch?
Rent data is not published for Welch at this level of detail.
What salary do you need to buy a home in Welch?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Welch, West Virginia at today's rate takes a household income of roughly $28,000 a year. That covers the full $655 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Welch, 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.