NAICS 52

Finance and Insurance in Morgantown, WV

Metro Market Score 28.0 (Favorable), ranked #33 of 331 metros. 219 establishments, 906 jobs.

Metro Market Score 28.0

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Favorable

ⓘ Lower is better. Relative to national finance and insurance average.

✓Favorable Market🌱Emerging Market

Morgantown has a relatively low concentration of finance and insurance firms (index: 5.7) paired with positive employment growth. This suggests an underpenetrated market where demand may outpace current supply.

Industry Concentration

5.7

LQ: 0.34

Rank #19 of 331 metros

Wage Competitiveness

24.8

$77,935 avg wage

Growth Trend

↑ 64.0

Employment growth index

Rank #120 of 331 metros

Wage Pressure

47.8

YoY wage change index

219 Finance and Insurance Firms in Morgantown

219

Establishments

+9.5% YoY

906

Total Employment

+0.3% YoY

$77,935

Average Annual Wage

+6.9% YoY

0.34

Location Quotient

Below national avg

Within West Virginia

#2 of 5

finance and insurance metros in state

West Virginia state rank

#2 of 51

for finance and insurance entry risk

vs State Median

-0.8

better than median (28.8)

Morgantown vs West Virginia Statewide

How this metro's finance and insurance market compares to West Virginia overall. The state ranks #2/51 for entry risk.

Measure	Morgantown	WV Statewide
Overall Score	28.0 Favorable	39.8 Moderate
Score Type	Metro Market Score	Entry Risk Score
Rank	#33 of 331 metros	#2 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Morgantown

Real Estate and Rental and Leasing 25.5 Retail Trade 31.9 Construction 34.9 Other Services 40.7 Information 45.0 Professional, Scientific, and Technical Services 47.8 Accommodation and Food Services 52.9 Healthcare and Social Assistance 80.0

Finance and Insurance in Other West Virginia Metros

Beckley 24.2 #19/331 Huntington-Ashland 28.8 #39/331 Weirton-Steubenville 40.8 #109/331 Wheeling 55.5 #224/331

Finance and Insurance Metros With Similar Conditions

Metros within 5 points of Morgantown's 28.0 score. Useful when comparing markets with comparable entry profiles.

Ocala, FL 27.9 #32/331 Spartanburg, SC 27.9 #31/331 Eagle Pass, TX 28.1 #34/331 Blacksburg-Christiansburg-Radford, VA 27.5 #30/331 Goldsboro, NC 27.5 #29/331 Laredo, TX 28.6 #35/331 El Centro, CA 28.6 #36/331 Brunswick-St. Simons, GA 27.3 #28/331 Twin Falls, ID 28.7 #37/331 Fairbanks-College, AK 28.8 #38/331

Finance and Insurance in States Bordering West Virginia

State-level entry risk for finance and insurance in adjacent states. Use this to weigh cross-border options.

Kentucky 40.0 #3/51 Ohio 48.2 #14/51 Pennsylvania 48.8 #19/51 Virginia 50.8 #26/51 Maryland 52.6 #30/51

Browse Finance and Insurance in Other States

State-level entry risk reports for finance and insurance across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Morgantown's finance and insurance sector, the employment growth component (36.0) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Morgantown, WV MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment