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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Follansbee, WV Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Follansbee, WV Housing Market Trends

With a population of 2,739, 1,353 total housing units (homes and apartments), and a median house value of $163,786, the cost of homes in Follansbee is among some of the lowest in the nation. Compared to West Virginia, however, Follansbee real state is not on the lower end of the price spectrum.

Single-family detached homes are the single most common housing type in Follansbee, accounting for 68.45% of the city's housing units. Other types of housing that are prevalent in Follansbee include large apartment complexes or high rise apartments ( 23.46%), duplexes, homes converted to apartments or other small apartment buildings ( 6.02%), and a few mobile homes or trailers ( 1.80%).

Dwellings in Follansbee tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 52.61% of the homes in Follansbee have two or fewer bedrooms.

There is a lot of housing in Follansbee built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Follansbee built before 1939 ( 32.09%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.19%). There's also some housing in Follansbee built between 2000 and later ( 3.41%).

Follansbee Home Appreciation Rates

Real estate appreciation rates in Follansbee's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.25% during the period.

Over the last year, Follansbee appreciation rates have trailed the rest of the nation. In the last twelve months, Follansbee's appreciation rate has been 4.08%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Follansbee were at -4.64%, which equates to an annual appreciation rate of -17.30%.

Notably, Follansbee's appreciation rate in the latest quarter is one of the lowest in America.

Relative to West Virginia, our data show that Follansbee's latest annual appreciation rate is lower than 80% of the other cities and towns in West Virginia.

Average Home Values

Median Home Value

$163,786

Follansbee, WV Home Prices
> $1,227,000
$921,001 - $1,227,000
$614,001 - $921,000
$491,001 - $614,000
$368,001 - $491,000
$246,001 - $368,000
$123,001 - $246,000
$62,001 - $123,000
$0 - $62,000
1.0%
1.0%
0.3%
0.3%
0.6%
0.6%
0.4%
0.4%
0.6%
0.6%
16.1%
16.1%
39.7%
39.7%
22.6%
22.6%
18.8%
18.8%
0% 100.0%
% of Homes
Average

for West virginia

Very Low

for nation

Number of Homes And Apartments:

1,353

Follansbee Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,907 / per month

Homeownership Rate

Owners
Renters
66.5%
66.5%
33.5%
33.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
9.6%
9.6%
90.4%
90.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
3.4%
3.4%
43.3%
43.3%
21.2%
21.2%
32.1%
32.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
68.4%
68.4%
0.3%
0.3%
6.0%
6.0%
23.5%
23.5%
1.8%
1.8%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.3%
4.3%
18.4%
18.4%
29.8%
29.8%
35.4%
35.4%
12.0%
12.0%
0.0%
0.0%
0% 100.0%
% of Homes