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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.



Lesage, 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

Lesage, WV Housing Market Trends

With 1,290 people, 435 houses or apartments, and a median cost of homes of $321,268, Lesage real estate is some of the most expensive in West Virginia, although Lesage home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Lesage, accounting for 55.56% of the town's housing units. Other types of housing that are prevalent in Lesage include mobile homes or trailers ( 18.06%), large apartment complexes or high rise apartments ( 15.28%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 11.11%).

The most prevalent building size and type in Lesage are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 45.98% owning and 54.02% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Lesage's housing was primarily built during this period, from the '40s through the '60s. A full 41.32% of the town's housing hails from this era. Other housing ages represented in Lesage include homes built between 1970-1999 ( 31.08%) and housing constructed between 2000 and later ( 16.32%). There's also some housing in Lesage built before 1939 ( 11.28%).

Vacant housing appears to be an issue in Lesage. Fully 24.48% of the housing stock is classified as vacant. Left unchecked, vacant Lesage homes and apartments can be a drag on the real estate market, holding Lesage real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Lesage Home Appreciation Rates

Lesage's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lesage during the period has been just 5.22%, which is lower than 80% of US communities.

Appreciation rates are so strong in Lesage that despite a nationwide downturn in the housing market, Lesage real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lesage appreciation rates continue to be some of the highest in America, at 11.11%, which is higher than appreciation rates in 91.42% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lesage. Lesage appreciation rates in the latest quarter were at -2.13%, which equates to an annual appreciation rate of -8.23%.

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

Relative to West Virginia, our data show that Lesage's latest annual appreciation rate is lower than 60% of the other cities and towns in West Virginia.

Average Home Values

Median Home Value

$321,268

Lesage, WV Home Prices
> $1,468,000
$1,101,001 - $1,468,000
$734,001 - $1,101,000
$587,001 - $734,000
$440,001 - $587,000
$294,001 - $440,000
$147,001 - $294,000
$74,001 - $147,000
$0 - $74,000
0.0%
0.0%
3.7%
3.7%
2.3%
2.3%
5.4%
5.4%
19.4%
19.4%
16.3%
16.3%
20.1%
20.1%
15.1%
15.1%
17.8%
17.8%
0% 100.0%
% of Homes
Very High

for West virginia

High

for nation

Number of Homes And Apartments:

435

Lesage Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,131 / per month

Homeownership Rate

Owners
Renters
46.0%
46.0%
54.0%
54.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
24.5%
24.5%
75.5%
75.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
16.3%
16.3%
31.1%
31.1%
41.3%
41.3%
11.3%
11.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
55.6%
55.6%
0.0%
0.0%
11.1%
11.1%
15.3%
15.3%
18.1%
18.1%
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
13.5%
13.5%
0.0%
0.0%
34.5%
34.5%
42.0%
42.0%
8.2%
8.2%
1.7%
1.7%
0% 100.0%
% of Homes