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Charleston, WV Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Charleston, WV Housing Market Trends

With a population of 48,864, 21,409 total housing units (homes and apartments), and a median house value of $167,984, house prices in Charleston are solidly below the national average.

Single-family detached homes are the single most common housing type in Charleston, accounting for 67.45% of the city's housing units. Other types of housing that are prevalent in Charleston include large apartment complexes or high rise apartments ( 16.04%), duplexes, homes converted to apartments or other small apartment buildings ( 12.47%), and a few row houses and other attached homes ( 3.17%).

The most prevalent building size and type in Charleston are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.74% owning and 42.26% renting.

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 49.83% of the city's housing hails from this era. Other housing ages represented in Charleston include homes built between 1970-1999 ( 24.07%) and housing constructed before 1939 ( 21.07%). There's also some housing in Charleston built between 2000 and later ( 5.03%).

Vacant housing appears to be an issue in Charleston. Fully 16.30% of the housing stock is classified as vacant. Left unchecked, vacant Charleston homes and apartments can be a drag on the real estate market, holding Charleston real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

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 19.57%, which is annualized rate of 1.80%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Charleston appreciation rates have trailed the rest of the nation. In the last twelve months, Charleston's appreciation rate has been 6.94%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Charleston were at -0.21%, which equates to an annual appreciation rate of -0.85%.

Notably, Charleston's appreciation rate in the latest quarter is one of the lowest in America.

Relative to West Virginia, our data show that Charleston's latest annual appreciation rate is lower than 90% 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 2000, to assist you in making the best Charleston real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$167,984

Charleston, WV HOME PRICES

> $1,140,000
$855,001 - $1,140,000
$570,001 - $855,000
$456,001 - $570,000
$342,001 - $456,000
$228,001 - $342,000
$114,001 - $228,000
$57,001 - $114,000
$0 - $57,000
0.7%
0.7%
1.5%
1.5%
2.6%
2.6%
3.5%
3.5%
6.8%
6.8%
17.2%
17.2%
34.6%
34.6%
21.9%
21.9%
11.1%
11.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

High for WV

Value Relative To Nation

Number Of Homes And Apartments:
21,409

Charleston Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WV*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
41.98% 1.57%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,168 / per month

Homeownership Rate

Owners
Renters
Vacant
57.7%
57.7%
42.3%
42.3%
16.3%
16.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
5.0%
5.0%
24.1%
24.1%
49.8%
49.8%
21.1%
21.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
67.5%
67.5%
3.2%
3.2%
12.5%
12.5%
16.0%
16.0%
0.8%
0.8%
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.9%
2.9%
13.9%
13.9%
29.2%
29.2%
34.7%
34.7%
15.0%
15.0%
4.3%
4.3%
0.0% 100.0%
% OF HOMES