Weirton ranks in top 5 most affordable housing markets in the country
Economic recovery, low crime, and low housing prices cited
In a recent report by Realtor.com, data identified 10 markets out of the 500 largest cities in the country that have the lowest median home prices. Completing the top five is Weirton, West Virginia. According to the report, an economic recovery due to the oil and gas industry, median home price of $90,000, and Weirton’s rate of serious crimes being less than half the national average are contributing factors.
“$350 million in investment headed to Brooke and Hancock counties, residential subdivisions under construction, two international companies opening their first US manufacturing facilities in Weirton answers the question why Weirton is in the top five,” according to Weirton City Manager Travis Blosser.
This is more good news for a region that has been on a positive economic trajectory since 2010 while other communities raise concerns about their housing availability and affordability.
“Weirton is one of the best places for businesses to grow and to raise a family,” said Weirton Mayor Harold Miller. “We have been able to diversify our economy, reduce crime, and lower our unemployment rate. The results of the report don’t surprise me at all.”
“When you look at the list, you see we are in very good company,” said Patrick Ford, Executive Director of the Business Development Corporation of the Northern Panhandle. “I think that with anything, supply and demand help drive pricing, employment opportunities create confidence in homebuyers, and quality of life closes the deal. Of course we are in the top five affordable housing markets in the country.”
About the BDC
Formed in 1993 and chartered as a 501-C3 (private, not for profit) organization, the BDC is the designated economic development organization for Brooke and Hancock counties. The BDC is dedicated to creating jobs and encouraging private investment in the northern panhandle. The BDC gets its support from the WV Development Office, WV Economic Development Authority, USEDA, USEPA, Benedum Foundation, private investors, Brooke and Hancock Counties, and the cities of Weirton, Wellsburg, Beech Bottom, Bethany, and New Cumberland.