Charleston appreciation rates and housing market information

Charleston housing market information

With 53,196 people, 27,084 houses or apartments, and a median cost of homes of $154,921, Charleston real estate is some of the most expensive in West Virginia, although Charleston home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Charleston, accounting for 64.63% of the city's housing units. Other types of housing that are prevalent in Charleston include large apartment complexes or high rise apartments (16.93%), duplexes, homes converted to apartments, or other small apartment buildings (15.39%), row houses and other attached homes (2.50%), and a few mobile homes or trailers (0.52%).

People in Charleston primarily live in small (one, two, or no bedroom) single-family detached homes. Charleston has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Charleston's housing was primarily built during this period, from the '40s through the '60s. A full 50.23% of the city's housing hails from this era. Other housing ages represented in Charleston include homes built between 1939 and earlier (25.13%), and housing constructed from 1970-1994 (21.90%). There's also some housing in Charleston built between 1995 and later (2.74%).

Charleston home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Charleston, where house values have increased just 37.79%, which is an average annual increase of 3.77%. NeighborhoodScout's data show that in the latest quarter, Charleston house values appreciated 1.17%, which is an annualized rate of 4.68%. This rate is lower than the appreciation rate found in 30% of the cities and towns in America.

Appreciation rates are so strong in Charleston that despite a nationwide downturn in the housing market, Charleston real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Charleston appreciation rates continue to be some of the highest in America, at 2.61%, which is higher than appreciation rates in 71% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Charleston. Charleston appreciation rates in the latest quarter were at 1.17%, which equates to an annual appreciation rate of 4.68%.

Relative to West Virginia, our data show that Charleston's latest annual appreciation rate is higher than 76% of the other cities and towns in West Virginia.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Charleston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Charleston - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Charleston real estate investment or home purchase decisions.