Morgantown appears to be a place where you can buy a home with a much lower income than in most cities in the United States.

This city, home to West Virginia University, has housing prices that are significantly lower compared to the national average.

Let's look at the numbers. As of March 2026, the median home price in Morgantown is approximately $240,000 according to Redfin, while Zillow estimates the home value to be between $272,226 and $281,909. For this calculation, we will use a figure close to the median of these two estimates, which is $272,000.

Applying standard loan conditions, which include a 20% down payment and a 30-year fixed interest rate of 6.75%, the down payment would be about $54,400, and the loan principal would be approximately $217,600. The monthly principal and interest (P&I) on this principal would be around $1,411.

West Virginia has one of the lowest property tax rates in the country, around 0.6% per year. Applying this, the monthly property tax would be about $136. Assuming an insurance premium of $1,400 per year, an additional $117 would be added, making the total monthly housing cost, including taxes and insurance, approximately $1,664. This is considerably less burdensome compared to other cities.

Using the DTI 28% rule, the required monthly income would be about $5,943, calculated by dividing $1,664 by 0.28, which translates to an annual income requirement of approximately $71,315. This is the practical entry barrier for this city.

Having dealt with properties in this area for nearly 20 years, I can say that the low income threshold makes it easier for young couples and families considering downsizing after retirement to enter the market. However, the actual median household income in Morgantown is only about $44,727 as of 2024. Compared to the required annual income of $71,315, there is a gap of about $26,600. The presence of a large student population in this college town contributes to the lower median income statistics, but this gap is significant.

When compared to nearby areas, Morgantown's relative position becomes clearer. While the overall median household income in West Virginia ranks among the lowest in the nation, Morgantown is a unique area that is even lower than the state average due to its university and hospital systems. In contrast, the median home price in Pittsburgh (Pennsylvania, about an hour away) is much higher than in Morgantown, highlighting the relative affordability of this area.

For Korean households, I would advise that if a dual-income couple has a combined annual income of around $70,000 to $75,000, purchasing a home in the median price range of this city seems feasible. Even with a single income, those in medical professions or university staff can reach this range. Given that this market has a lower entry barrier compared to the national average, now may not be a bad time to consider moving to this area.

To summarize the calculation basis:

• Median home price of about $272,000, loan principal of about $217,600
• Monthly principal and interest of about $1,411, total monthly cost including taxes and insurance of about $1,664
• Required annual income of about $71,315, with a gap of about $26,600 compared to the regional median household income

However, I should also point out some caution. Areas near the downtown or preferred school districts near the university in Morgantown often have prices that are 15-20% higher than the median price. In such cases, the required annual income could rise to around $80,000, so it's better to first check the market prices in your target area.

Additionally, the price increase rate over the past year has been around 4%, which is higher than the national average. Don't be complacent just because the prices are low; if you are considering entering the market, it would be advantageous not to delay too long.