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 410 people, 150 houses or apartments, and a median cost of homes of $223,004, 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 79.66% of the town's housing units. Other types of housing that are prevalent in Paw Paw include mobile homes or trailers ( 12.43%), duplexes, homes converted to apartments or other small apartment buildings ( 6.78%), and a few row houses and other attached homes ( 1.13%).
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 68.20% of Paw Paw's homes, and 77.40% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Paw Paw 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 Paw Paw built between 1940-1969 ( 27.68%). A lesser amount of the housing stock also hails from before 1939 ( 25.99%). There's also some housing in Paw Paw built between 2000 and later ( 13.56%).
Vacant housing appears to be an issue in Paw Paw. Fully 15.25% 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.
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 6.30% during the period.
Over the last year, Paw Paw appreciation rates have trailed the rest of the nation. In the last twelve months, Paw Paw's appreciation rate has been 6.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Paw Paw were at -0.80%, which equates to an annual appreciation rate of -3.17%.
Notably, Paw Paw's appreciation rate in the latest quarter is one of the lowest in America.
Relative to West Virginia, our data show that Paw Paw's latest annual appreciation rate is lower than 70% of the other cities and towns in West Virginia.
$223,004
for West virginia
for nation
150
$1,171 / per month