The story of this market
The typical home in ZIP 24731 sells for about $145,000, or $92 per square foot.
Prices are up +3.2% from a year ago, so sellers still have some momentum. Homes take about 88 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $628 a month.
ZIP 24731 — Kegley
The housing market in 24731 is characterized by low inventory and slow turnover, typical of a rural West Virginia community. Prices have seen modest year-over-year growth, supported by limited supply rather than high demand. The market remains stable, with affordability being the primary driver for local buyers.
This ZIP is best suited for budget-conscious families and local workers seeking affordable housing in a quiet, rural setting. It is less ideal for those requiring proximity to major urban employment centers or extensive public transit.
Median prices moved up 3.2% year over year.
Homes spend a median of 88 days on market with 4.5 months of supply — a balanced-paced market.
15% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 0.0% · poverty 7.4% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 2.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 2.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 24731, Mercer County WV
Crime rates in this rural area are generally lower than the national average, with property crime being the primary concern. Local law enforcement reports stable trends consistent with the broader Mercer County region.
Schools serving this ZIP are part of the Mercer County School District, which maintains a moderate performance rating. Educational resources are focused on foundational learning with limited specialized extracurricular programs.
The area faces moderate risks from seasonal flooding in low-lying areas near local creeks and occasional high-wind events. Property insurance availability is stable, though premiums reflect regional wildfire and storm exposure.
Economic momentum is modest, driven primarily by local government, healthcare, and retail sectors in nearby Princeton. Infrastructure development is focused on maintaining existing road networks rather than large-scale expansion.
Property taxes are assessed by Mercer County based on a percentage of fair market value, with rates determined by local levies and school district requirements. Homestead exemptions are available for primary residences, and there are no local income taxes.
Residents primarily commute by car to employment hubs in Princeton or Bluefield, with average commute times reflecting the rural nature of the region. Public transit options are extremely limited, necessitating personal vehicle ownership.
The area offers access to outdoor recreation including local parks and proximity to the Appalachian trail systems. Shopping and dining options are concentrated in the nearby city of Princeton, approximately 10-15 minutes away.
The rental market is characterized by low inventory and steady demand from local workers. Vacancy rates are low, and there is minimal presence of short-term vacation rentals compared to more tourist-heavy regions.
The economy is anchored by healthcare, education, and public sector employment within Mercer County. Industry mix is largely traditional, with limited exposure to high-growth tech or corporate sectors.
Transportation is heavily reliant on private vehicles, with access to US-460 and I-77 serving as the primary corridors for regional travel. Public transit infrastructure is minimal.
Development is primarily limited to small-scale residential improvements and local infrastructure maintenance. No major commercial or industrial projects are currently reported for this specific ZIP.
The Mercer County Assessor's office manages property valuations, typically reassessing based on market trends and property improvements. Assessments are generally conservative, reflecting the rural market conditions.
Parcels are subject to Mercer County school district levies and standard municipal utility service districts. No specialized MUD or PID districts are prevalent in this area.
Property insurance remains available, though premiums are influenced by regional weather patterns and the age of housing stock. Market health is stable with no significant carrier exits reported.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Provides local green space and recreational facilities for residents.
Serves as a hub for local events and youth programs.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.