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West Virginia market guide
DSCR loans in Shepherdstown, WV
Rental financing for Shepherdstown investors, qualified on the property's rent.
In Shepherdstown, WV, rental investors qualify on the property's rent instead of personal income. The market data behind that: $1,201 median rent, $485,200 median home value and 27% of households renting.
Shepherdstown rental market at a glance
For Shepherdstown, the latest five-year ACS shows a median gross rent of $1,201 () and a median owner-occupied value of $485,200 (well above the West Virginia median of $162,600).
| Indicator | West Virginia | Shepherdstown | Difference |
|---|---|---|---|
| Persons per household | 2.37 | 1.92 | |
| Share in 2-4 unit buildings | 4.9% | 7.4% | +52% |
| Share of homes detached | 70.9% | 55.2% | -22% |
| Long commuters, 45 min plus | 17.5% | 6.2% | -65% |
| Degree holders, age 25+ | 24.1% | 71.2% | +195% |
| Workers on their own account | 6.8% | 11.7% | +73% |
| Renters paying 30%+ of income | 48.9% | 60.3% | +23% |
| Units sitting vacant | 15.4% | 7.1% | -54% |
| Households that rent | 25.1% | 26.8% | +7% |
| Tax as a share of home value | 0.53% | 0.53% | +0% |
| Household income, median | $59,608 | $63,750 | +7% |
| Typical owner-occupied value | $162,600 | $485,200 | +198% |
| Residents (Census estimate) | 1,778,373 | 1,460 |
Owners predominate in Shepherdstown (73% of households), leaving renters at 26.8%, close to the West Virginia median of 25%. Against a median household income of $63,750 (close to the West Virginia median of $59,608), 60% of renters report rent at or above 30 percent of income.
Shepherdstown is a small place, and Census estimates for small populations carry wide margins of error, so we leave out rent-derived ratios here and rely on local quotes and comparables.
Homes, buildings and vacancies in Shepherdstown
Shepherdstown offers a mix of product: 55% of units are detached, 7% are duplexes through fourplexes, and 13% are in mid-sized buildings. The median structure went up in 1965, so request ages for the roof, HVAC and water heater on any rental you consider.
The Census counts 7% of housing units in Shepherdstown as vacant.
Underwriting angles in Shepherdstown
With a 1965 median build year, the question for each property is when the roof and HVAC were last replaced. With renters at 27% of households, plan for a longer marketing period and a smaller tenant pool than in a renter-heavy city.
Taxes and risk in Shepherdstown
In Shepherdstown the median tax bill for an owner-occupied home is $2,594, or about 0.53% of value (West Virginia overall: 0.53%). That bill is well above the West Virginia median of $865. Set beside the median rent, the tax alone consumes about 18% of annual rent.
FEMA's National Risk Index (version 1.20, December 2025) rates Jefferson County as relatively low overall for natural hazard risk, with drought (relatively moderate), strong wind (relatively moderate) and hurricanes (relatively low) among its leading hazards.
| Hazard in Jefferson County, FEMA index | Level |
|---|---|
| Riverine flooding exposure | Relatively Low |
| Hurricanes exposure | Relatively Low |
| Strong wind exposure | Relatively Moderate |
| Drought exposure | Relatively Moderate |
| Social vulnerability score | Very Low |
| Annualized loss estimate | Relatively Low |
| Composite risk | Relatively Low |
Flood risk in Shepherdstown is parcel by parcel: check the address on FEMA's flood map service, because a mapped high-risk zone means required flood cover and a heavier payment.
Rent math for Shepherdstown buyers
At the city medians a DSCR file in Shepherdstown has $985 a month after taxes to cover principal, interest, insurance and dues if the ratio is 1.00, or $745 if the ratio is 1.25. Those two numbers show why insurance quotes and tax estimates come first.
Rules a Shepherdstown landlord should check
We have not confirmed a city-specific rental registration or nightly-stay permit program for Shepherdstown, so check with the city and with Jefferson County before you buy, and look at any HOA or condominium rules that can be stricter than the city's. Guests who book by the night in Shepherdstown are taxed under state law as follows. West Virginia taxes lodging rentals of 30 consecutive days or less, so owners register with the State Tax Department and collect state and municipal sales tax, while county or municipal hotel occupancy taxes are separate and locally administered.
The return clock runs 60 days from move-out in West Virginia, so Shepherdstown landlords should keep move-in photos and repair receipts.
Shepherdstown compared with nearby markets
Hagerstown's median home value of $224,500 is the group's floor and Frederick's $401,500 its ceiling, while Shepherdstown is $485,200.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Frederick | 41% | $5,001 | $401,500 | 83,395 | $1,764 |
| Hagerstown | 57% | $2,585 | $224,500 | 43,665 | $1,114 |
| Charles Town | 25% | $2,213 | $377,700 | 7,337 | $1,115 |
| Martinsburg | 52% | $1,529 | $240,000 | 18,904 | $1,150 |
| Shepherdstown | 27% | $2,594 | $485,200 | 1,460 |
Workforce and demand drivers in Shepherdstown
About 11.7% of Shepherdstown workers are self-employed, the kind of borrowers whose tax returns understate cash flow and who often prefer a loan sized on rent. Other workforce markers: government workers are about 26% of employment, 71% of adults hold a bachelor's degree or higher and 6% of commuters travel 45 minutes or more.
Putting a Shepherdstown file together
Run the Shepherdstown rent, tax and insurance figures through the DSCR calculator. When they clear the ratio, start an application or ask for a quote.
More West Virginia markets
- All West Virginia DSCR loans
- DSCR loans in Martinsburg, WV
- DSCR loans in Charles Town, WV
- DSCR loans in Hagerstown, MD
- DSCR loans in Frederick, MD
- Every market we cover
Where we checked
- Text of W. Va. Code §§ 37-6A-1, 37-6A-2, 37-6A-3, 37-6A-5 for Shepherdstown landlords
- For nightly stays in Shepherdstown: West Virginia State Tax Department, TSD 316
- American Community Survey tables, West Virginia
- FEMA National Risk Index
- Wikipedia article, Shepherdstown, West Virginia
We took the Shepherdstown data from Census ACS five-year tables for 2020 to 2024, estimates with margins of error. For West Virginia tenant law we used RedFlagLease under CC BY 4.0 plus the linked statutes. Our check date is October 2026, so look for newer Shepherdstown rules before you commit.
Before you make an offer
On a Shepherdstown purchase, line up the lease, the tax estimate, the insurance quote and any association dues before the appraisal is ordered, and ask the appraiser's office what rent comparables they plan to use.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
How does a lender pick the rent for a Shepherdstown DSCR file?
Expect to supply a lease, or let the appraiser's rent schedule stand in for one; the Shepherdstown median rent of $1,201 is context and not a substitute.
What payment can a Shepherdstown rent support?
The denominator is the whole housing payment. Using Shepherdstown's median rent of $1,201, a ratio of 1.25 allows $961, and a ratio of 1.00 allows all $1,201.
What tax bill should I expect on a Shepherdstown rental?
Typical owners pay $2,594, or 0.53% of home value, with West Virginia overall at 0.53%. Do not assume the seller's bill carries over to you.
Do DSCR lenders count short-term rental income in Shepherdstown?
Yes on programs built for it, once the use is lawful in Shepherdstown. Gather twelve months of statements or a third-party projection, and have West Virginia tax registration squared away.
When must a Shepherdstown landlord return a deposit?
Under W. Va. Code §§ 37-6A-1, 37-6A-2, 37-6A-3, 37-6A-5: The deposit is due back within 60 days of move-out. Check the statute and your lease before collecting.
What hazard risk does Shepherdstown carry for investors?
At the county level FEMA calls overall risk relatively low. Insurance, not the index, shows up in the ratio, so price a policy for the Shepherdstown address.
Can I close a Shepherdstown DSCR loan in an LLC?
You do not need one, and many investors close in an entity. If you use an LLC, the lender asks for formation documents and usually a personal guaranty. Talk to your attorney and accountant about structure for a West Virginia property.