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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 1,756, 738 total housing units (homes and apartments), and a median house value of $243,351, house prices in Romney are solidly below the national average.
Single-family detached homes are the single most common housing type in Romney, accounting for 63.43% of the city's housing units. Other types of housing that are prevalent in Romney include large apartment complexes or high rise apartments ( 23.30%), duplexes, homes converted to apartments or other small apartment buildings ( 8.05%), and a few mobile homes or trailers ( 4.60%).
People in Romney primarily live in small (one, two or no bedroom) single-family detached homes. Romney has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Romney 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 Romney built between 1940-1969 ( 34.27%). A lesser amount of the housing stock also hails from before 1939 ( 16.41%). There's also some housing in Romney built between 2000 and later ( 4.60%).
Vacant housing appears to be an issue in Romney. Fully 22.88% of the housing stock is classified as vacant. Left unchecked, vacant Romney homes and apartments can be a drag on the real estate market, holding Romney 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.
Real estate appreciation rates in Romney's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.14% during the period.
Over the last year, Romney appreciation rates have trailed the rest of the nation. In the last twelve months, Romney's appreciation rate has been 0.12%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Romney were at 1.29%, which equates to an annual appreciation rate of 5.25%.
Relative to West Virginia, our data show that Romney's latest annual appreciation rate is lower than 90% of the other cities and towns in West Virginia.
$243,351
for West virginia
for nation
738
$914 / per month