Charleston is home to the best residential real estate investment market in West Virginia.
The 25306 zip code in Charleston presents the greatest opportunity for the best real estate investments among the 3,404 individual real estate markets in West Virginia we evaluated. We looked at property values, population trends, and six other metrics for each market. We used that data to calculate each market's InvestScore.
5 best places to invest in West Virginia
| Rank | City | InvestScore | Affordability | Property value appreciation |
|---|---|---|---|---|
| 1 | Charleston | 100 | 1.3 | 37.00% |
| 2 | Bluefield | 86.8 | 2.1 | 39.00% |
| 3 | South Charleston | 83.7 | 2.1 | 35.00% |
| 4 | Beckley | 83.4 | 2.5 | 37.00% |
| 5 | Bruceton Mills | 82.8 | 0.8 | 18.00% |
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1. Charleston
We've identified the 25306 zip code in Charleston as West Virginia's best real estate investment market. Here's why.
🔎 Key data about Charleston
| Data point | Value | Rank in state (of 3,404 markets) |
|---|---|---|
| Zip code | 25306 | N/A |
| InvestScore | 100 | Highest |
| Typical property value | $96,194[1] | 4th lowest |
| Five-year appreciation | 37.00%[2] | 34th highest |
| Household income | $71,654[3] | 27th highest |
| Affordability ratio | 1.3 | 2nd most affordable |
| Five-year population growth | -3.9%[4] | 77th highest |
| Unemployment rate | 4.40%[5] | 5th lowest |
| Property taxes | $617[6] | 10th lowest |
| Educational attainment | 28%[7] | 30th highest |
Charleston (zip code 25306) is the best residential real estate investment market in West Virginia. It has the 34th highest property value appreciation among markets we evaluated, with a 37.00% appreciation of the typical property over the last five years.
Charleston is the 2nd most affordable market among the 3,404 West Virginia markets we evaluated, with an affordability ratio of 1.3.
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2. Bluefield
The 24701 zip code in Bluefield is the runner-up spot for the best real estate investments in West Virginia.
🔎 Key data about Bluefield
| Data point | Value | Rank in state (of 3,404 markets) |
|---|---|---|
| Zip code | 24701 | N/A |
| InvestScore | 86.8 | 2nd highest |
| Typical property value | $104,066[8] | 6th lowest |
| Five-year appreciation | 39.00%[9] | 29th highest |
| Household income | $50,455[10] | 79th highest |
| Affordability ratio | 2.1 | 8th most affordable |
| Five-year population growth | -4.6%[11] | 80th highest |
| Unemployment rate | 3%[12] | lowest |
| Property taxes | $528[13] | 5th lowest |
| Educational attainment | 23%[14] | 52nd highest |
The 24701 zip code in Bluefield features a typical property value of $104,066, the 6th lowest in the state.
Property values have appreciated 39.00% over the past five years, the 29th highest increase among evaluated markets in the state. Bluefield homes have an affordability ratio of 2.1, the 8th most affordable in the state.
3. South Charleston
The 25303 zip code in South Charleston comes in at No. 3 in our ranking of the best residential real estate investment markets in West Virginia.
🔎 Key data about South Charleston
| Data point | Value | Rank in state (of 3,404 markets) |
|---|---|---|
| Zip code | 25303 | N/A |
| InvestScore | 83.7 | 3rd highest |
| Typical property value | $159,607[15] | 39th lowest |
| Five-year appreciation | 35.00%[16] | 41st highest |
| Household income | $75,872[17] | 22nd highest |
| Affordability ratio | 2.1 | 11th most affordable |
| Five-year population growth | 5.9%[18] | 12th highest |
| Unemployment rate | 4.40%[19] | 5th lowest |
| Property taxes | $1,181[20] | 68th lowest |
| Educational attainment | 46%[21] | 7th highest |
With a typical property value of $159,607, South Charleston's 25303 zip code features the 39th lowest property values in the state.
South Charleston homes have an affordability ratio of 2.1, the 11th most affordable among the markets we evaluated.
4. Beckley
The 25801 zip code in Beckley ranks No. 4 among West Virginia's residential real estate investment markets.
🔎 Key data about Beckley
| Data point | Value | Rank in state (of 3,404 markets) |
|---|---|---|
| Zip code | 25801 | N/A |
| InvestScore | 83.4 | 4th highest |
| Typical property value | $139,413[22] | 24th lowest |
| Five-year appreciation | 37.00%[23] | 32nd highest |
| Household income | $56,836[24] | 32nd highest |
| Affordability ratio | 2.5 | 24th most affordable |
| Five-year population growth | 0.8%[25] | 31st highest |
| Unemployment rate | 5%[26] | 7th lowest |
| Property taxes | $765[27] | 26th lowest |
| Educational attainment | 26%[28] | 38th highest |
Property values in Beckley's 25801 zip code have seen the 32nd highest increase among evaluated markets in the state, with an appreciation of 37.00% over the past five years.
Beckley's affordability ratio of 2.5 makes it the 24th most affordable among the 3,404 markets we evaluated.
5. Bruceton Mills
The 26525 zip code in Bruceton Mills rounds out our top five residential real estate investment markets in West Virginia.
🔎 Key data about Bruceton Mills
| Data point | Value | Rank in state (of 3,404 markets) |
|---|---|---|
| Zip code | 26525 | N/A |
| InvestScore | 82.8 | 5th highest |
| Typical property value | $69,590[29] | lowest |
| Five-year appreciation | 18.00%[30] | 80th highest |
| Household income | $82,114[31] | 80th highest |
| Affordability ratio | 0.8 | most affordable |
| Five-year population growth | 2.9%[32] | 21st highest |
| Unemployment rate | 3.80%[33] | 3rd lowest |
| Property taxes | $952[34] | 49th lowest |
| Educational attainment | 17%[35] | 71st highest |
Property values in Bruceton Mills's 26525 zip code rose 18.00% over the last five years, ranking the city 80th highest among evaluated markets in West Virginia.
Bruceton Mills homes have an affordability ratio of 0.8, the most affordable among the markets we evaluated.
Investing in residential real estate can be one of the best passive real estate investments in West Virginia.
Residential real estate offers accessible passive income and the potential to compound your original investment.
Renting out residential units is the top way to invest in real estate. House hacking also offers a great opportunity for passive real estate investment income.
How we rank residential real estate markets in West Virginia
To determine the best real estate investments in West Virginia we evaluated 3,404 markets on eight metrics, and then assigned an InvestScore based on their weighted and combined rankings. Each market corresponds to a specific zip code in West Virginia.
What is InvestScore?
InvestScore is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the residential real estate investment potential of a given market. It takes into account a suite of key data points for each city.
- Typical property value: This measures the typical home value in this zip code, according to the Zillow Home Value Index. It reflects the typical value for homes in the 35th to 65th percentile range, including all homes, with the numbers smoothed and seasonally adjusted. We prefer lower property values, which indicate both more room for growth and a greater ease of purchase. We assign a weight of 20% to typical property values.
- Property value appreciation: This measures how much property values have increased in the area over the past five years, according to the Zillow Home Value Index. We prefer a higher appreciation, as it indicates better returns on housing. However, past performance isn't indicative of future results. We assign a weight of 20% to property value appreciation.
- Median household income: This is the inflation-adjusted median household income in the zip code, according to U.S. Census American Community Survey data. We prefer a higher household income, as it indicates local residents have more income to spend on housing. We assign a weight of 10% to median household income.
- Affordability ratio: This is the ratio of the typical home value to the median household income in the area. A lower ratio is better because it means more households can afford a home, which indicates higher demand. We assign a weight of 15% to the affordability ratio.
- Population growth: This is how much the area's population has grown over the past five years, according to U.S. Census estimates. Higher is better, as it indicates residents are moving into the area at a rapid clip. We assign a weight of 10% to population growth.
- Unemployment rate: This is the unemployment rate in the area, according to U.S. Census data. We prefer a lower rate, as it indicates the availability of steady employment in the area, meaning residents will find it much easier to afford homes. We assign a weight of 15% to unemployment rate.
- Property tax: This is the median real estate property tax paid in the area, according to U.S. Census estimates. We assign a weight of 10% to property tax.
- Educational attainment: This is the percentage of residents in the area that have obtained a bachelor's degree or better, according to U.S. Census estimates. We prefer a higher rate because it indicates local residents who have higher earning potential and thus should be able to afford homes. We assign a weight of 15% to educational attainment.
🚨 Disclaimer: The information contained in this article isn't intended as, and shall not be understood or constituted as, financial advice. The information in this article isn't a substitute for financial advice from an investment professional or real estate agent who is aware of the facts and circumstances of your financial situation or the specifics of any individual property.
