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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.



Paw Paw, 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

Paw Paw, WV Housing Market Trends

With a population of 412, 175 total housing units (homes and apartments), and a median house value of $213,044, house prices in Paw Paw are solidly below the national average.

Single-family detached homes are the single most common housing type in Paw Paw, accounting for 82.32% of the town's housing units. Other types of housing that are prevalent in Paw Paw include mobile homes or trailers ( 10.61%), duplexes, homes converted to apartments or other small apartment buildings ( 3.54%), and a few large apartment complexes or high rise apartments ( 2.53%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Paw Paw. Owner-occupied housing accounts for 66.28% of Paw Paw's homes, and 71.21% have either three or four bedrooms, which is average sized relative to America.

The housing in Paw Paw was primarily built before 1939 ( 42.42%), making the housing stock in Paw Paw some of the oldest overall in America, although there is a range of ages of homes in Paw Paw. The next most important housing age is between 1970-1999 ( 31.31%), followed by between 1940-1969 ( 16.67%). There's also some housing in Paw Paw built between 2000 and later ( 9.60%).

Vacant housing appears to be an issue in Paw Paw. Fully 11.62% of the housing stock is classified as vacant. Left unchecked, vacant Paw Paw homes and apartments can be a drag on the real estate market, holding Paw Paw 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.

Paw Paw Home Appreciation Rates

Real estate appreciation rates in Paw Paw's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.94% during the period.

Appreciation rates are so strong in Paw Paw that despite a nationwide downturn in the housing market, Paw Paw real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Paw Paw appreciation rates continue to be some of the highest in America, at 9.48%, which is higher than appreciation rates in 84.17% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Paw Paw. Paw Paw appreciation rates in the latest quarter were at 5.18%, which equates to an annual appreciation rate of 22.39%.

Importantly, this makes Paw Paw one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

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

Average Home Values

Median Home Value

$213,044

Paw Paw, WV Home Prices
> $1,338,000
$1,003,001 - $1,338,000
$669,001 - $1,003,000
$535,001 - $669,000
$401,001 - $535,000
$268,001 - $401,000
$134,001 - $268,000
$67,001 - $134,000
$0 - $67,000
1.5%
1.5%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
4.5%
4.5%
24.9%
24.9%
29.7%
29.7%
23.3%
23.3%
16.0%
16.0%
0% 100.0%
% of Homes
High

for West virginia

Low

for nation

Number of Homes And Apartments:

175

Paw Paw Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,154 / per month

Homeownership Rate

Owners
Renters
66.3%
66.3%
33.7%
33.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
11.6%
11.6%
88.4%
88.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.6%
9.6%
31.3%
31.3%
16.7%
16.7%
42.4%
42.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
82.3%
82.3%
1.0%
1.0%
3.5%
3.5%
2.5%
2.5%
10.6%
10.6%
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
0.0%
0.0%
0.0%
0.0%
28.8%
28.8%
52.5%
52.5%
18.7%
18.7%
0.0%
0.0%
0% 100.0%
% of Homes

Popular Neighborhoods in Paw Paw

Zip Codes in Paw Paw, WV