Differences in Apartment Prices by Unit in Morgantown - Morgantown - 1

In the past, the Morgantown apartment market was dominated by West Virginia University (WVU) students who would snap up studios and one-bedroom units, but the trend has changed somewhat in recent years.

Studios have an average rent of $538 per month and an average size of 352 square feet. This is considered quite affordable within West Virginia, primarily attracting students who prefer to have a small room to themselves right near campus. Areas like Sunnyside, which are adjacent to the campus, tend to have a concentration of these small units.

One-bedroom units range from an average rent of $839 to $1,250, with a median around $880. While exact statistics on size are not very detailed, they are generally estimated to be around 600 square feet. Previously, most demand in this range came from students, but now there is a significant mix of young professionals who have settled in due to jobs in hospitals and university administration.

Two-bedroom units have an average rent between $825 and $1,525, with a median of about $1,165, and their size is estimated to be around 850 square feet. This range is filled by students sharing with roommates and young families with one child. Demand from families is more pronounced in quieter neighborhoods like South Park or Suncrest compared to Sunnyside.

Three-bedroom units are less common on the market, making it difficult to provide a precise average, but applying the typical increase compared to two-bedrooms, we can estimate rents around $1,400 to $1,500, with sizes around 1,100 square feet. This category typically includes families with multiple children or three students living together.

In the past, studios and one-bedrooms made up the vast majority of the market, but recent new developments are gradually increasing the proportion of two-bedroom units. As the population settling in due to jobs at the hospital (WVU Medicine) and university-related positions grows, there is a shift away from the previous focus solely on short-term student demand. The market is slowly transitioning to target both students and permanent residents.

The academic calendar still has a significant impact. During the summer months of June and July, vacancies for student studios and one-bedrooms tend to accumulate, only to be quickly filled as August approaches and classes begin. In contrast, two- to three-bedroom units have a higher proportion of permanent households, resulting in relatively less seasonal fluctuation.

The rent differences between unit types are estimated to be about $340 between studios and one-bedrooms, about $285 between one-bedrooms and two-bedrooms, and around $250 to $300 between two-bedrooms and three-bedrooms. Notably, the jump in rent from a studio to a one-bedroom is the most significant. It is also worth noting that overall rents in Morgantown are nearly 47% lower than the national average.

The difference in rent between complexes with ample parking and those without due to the mountainous terrain cannot be overlooked. Areas right near campus allow for walking commutes but tend to have parking issues, while complexes a bit further away offer more parking but require shuttle buses or cars.

Lease agreements are another aspect to consider. Studios and one-bedrooms typically have 12-month leases starting in August to align with the academic calendar, while two- to three-bedroom units, which often have more family tenants, tend to have more flexible start dates. If your moving plans are not in the summer, it's advisable to check this with the property management in advance.

If a Korean family settles in Morgantown, it seems reasonable to first consider commuting distances to hospitals or universities and start with a two-bedroom unit. Given that rents are lower than the national average, starting with a three-bedroom unit is also not a significant burden.