What Still Applies Without a State Requirement
Two things survive the absence of a statute. A lease can promise interest even where no law compels it, and a promise written into the lease is enforceable as a contract term on its own footing. And where a landlord does place the deposit in an interest-bearing account, what happens to the interest it earns is a question the lease and the deposit-return rules answer, rather than one that simply resolves in the landlord's favor by default.
The larger figure in most cases is not the interest at all. A deposit held for several years is money the tenant cannot invest or spend, and the calculator above shows that opportunity cost alongside any interest — which is usually the more revealing of the two numbers in a state with no requirement.
How West Virginia Compares to Nearby States
Deposit interest is one of the sharpest state-line differences in residential tenancy: neighboring states frequently land on opposite sides of it.
The full picture across all 51 jurisdictions is on the deposit interest by state index.
Common Questions About West Virginia Deposit Interest
Does my landlord have to pay interest on my security deposit in West Virginia?
West Virginia does not require it. Fourteen jurisdictions do, and a local ordinance can impose the obligation where the state has not, so the municipal code for the specific city is worth checking. A lease can also promise interest voluntarily, in which case it is enforceable as a contract term.
Which states do require security deposit interest?
Fourteen: Connecticut, the District of Columbia, Illinois, Iowa, Maryland, Massachusetts, Minnesota, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio and Pennsylvania. Several attach conditions — Ohio only on the portion above one month's rent, Pennsylvania only after the second year, Illinois only in buildings of 25 units or more, and Iowa gives the first five years of interest to the landlord rather than the tenant.
What does a held security deposit actually cost me in West Virginia?
The interest is usually the smaller number. A deposit is money that cannot be invested or spent while the landlord holds it, and over a multi-year tenancy that opportunity cost is typically larger than any interest a statute would have produced. The calculator on this page shows both figures side by side.
Can a West Virginia lease promise deposit interest anyway?
Yes. Nothing prevents a lease from providing for interest in a state that does not require it, and a term of that kind is enforceable like any other contract term. Where a lease does promise interest, the lease language rather than any statute supplies the rate and the payment schedule.