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 investors among the 368 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.
Top 5 West Virginia residential real estate markets
| Rank | City | InvestScore | Affordability | Property value appreciation |
|---|---|---|---|---|
| 1 | Charleston | 100 | 1.6 | 46.36% |
| 2 | Huntington | 95.7 | 1.9 | 30.87% |
| 3 | Bluefield | 95.1 | 2.3 | 76.55% |
| 4 | Point Pleasant | 95.1 | 2.4 | 46.64% |
| 5 | Dunbar | 94 | 2.5 | 45.43% |
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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 368 markets) |
|---|---|---|
| Zip code | 25306 | N/A |
| InvestScore | 100 | Highest |
| Typical property value | $84,538[1] | 5th lowest |
| Five-year appreciation | 46.36%[2] | 24th highest |
| Household income | $54,125[3] | 50th highest |
| Affordability ratio | 1.6 | 2nd most affordable |
| Five-year population growth | -11.2%[4] | 82nd highest |
| Unemployment rate | 3.9%[5] | 22nd lowest |
| Property taxes | $507[6] | 6th lowest |
| Educational attainment | 23.6%[7] | 41st highest |
Charleston (zip code 25306) is the best residential real estate investment market in West Virginia. It has the 24th highest property value appreciation among markets we evaluated, with a 46.36% appreciation of the typical property over the last five years.
Charleston is the 2nd most affordable market among the 368 West Virginia markets we evaluated, with an affordability ratio of 1.6.
2. Huntington
The 25530 zip code in Huntington is West Virginia's second-best residential real estate investment market.
🔎 Key data about Huntington
| Data point | Value | Rank in state (of 368 markets) |
|---|---|---|
| Zip code | 25530 | N/A |
| InvestScore | 95.7 | 2nd highest |
| Typical property value | $125,621[8] | 21st lowest |
| Five-year appreciation | 30.87%[9] | 70th highest |
| Household income | $64,763[10] | 27th highest |
| Affordability ratio | 1.9 | 4th most affordable |
| Five-year population growth | 16.3%[11] | 3rd highest |
| Unemployment rate | 0.7%[12] | lowest |
| Property taxes | $700[13] | 25th lowest |
| Educational attainment | 21.1%[14] | 53rd highest |
The 25530 zip code in Huntington features a typical property value of $125,621, the 21st lowest in the state.
Property values have appreciated 30.87% over the past five years, the 70th highest increase among evaluated markets in the state. Huntington homes have an affordability ratio of 1.9, the 4th most affordable in the state.
3. Bluefield
The 24701 zip code in Bluefield comes in at No. 3 in our ranking of residential real estate investment markets in West Virginia.
🔎 Key data about Bluefield
| Data point | Value | Rank in state (of 368 markets) |
|---|---|---|
| Zip code | 24701 | N/A |
| InvestScore | 95.1 | 3rd highest |
| Typical property value | $105,344[15] | 7th lowest |
| Five-year appreciation | 76.55%[16] | the highest |
| Household income | $44,918[17] | 78th highest |
| Affordability ratio | 2.3 | 12th most affordable |
| Five-year population growth | -7.8%[18] | 71st highest |
| Unemployment rate | 5.9%[19] | 55th lowest |
| Property taxes | $515[20] | 7th lowest |
| Educational attainment | 20.6%[21] | 59th highest |
With a typical property value of $105,344, Bluefield's 24701 zip code features the 7th lowest property values in the state.
Bluefield homes have an affordability ratio of 2.3, the 12th most affordable among the markets we evaluated.
4. Point Pleasant
The 25550 zip code in Point Pleasant ranks No. 4 among West Virginia's residential real estate investment markets.
🔎 Key data about Point Pleasant
| Data point | Value | Rank in state (of 368 markets) |
|---|---|---|
| Zip code | 25550 | N/A |
| InvestScore | 95.1 | 4th highest |
| Typical property value | $138,811[22] | 32nd lowest |
| Five-year appreciation | 46.64%[23] | 23rd highest |
| Household income | $57,056[24] | 23rd highest |
| Affordability ratio | 2.4 | 15th most affordable |
| Five-year population growth | 2.2%[25] | 32nd highest |
| Unemployment rate | 2.3%[26] | 7th lowest |
| Property taxes | $743[27] | 31st lowest |
| Educational attainment | 20.5%[28] | 60th highest |
Property values in Point Pleasant's 25550 zip code have seen the 23rd highest increase among evaluated markets in the state, with an appreciation of 46.64% over the past five years.
Point Pleasant's affordability ratio of 2.4 makes it the 15th most affordable among the 368 markets we evaluated.
5. Dunbar
The 25064 zip code in Dunbar rounds out our top five residential real estate investment markets in West Virginia.
🔎 Key data about Dunbar
| Data point | Value | Rank in state (of 368 markets) |
|---|---|---|
| Zip code | 25064 | N/A |
| InvestScore | 94 | 5th highest |
| Typical property value | $118,470[29] | 16th lowest |
| Five-year appreciation | 45.43%[30] | 27th highest |
| Household income | $48,107[31] | 27th highest |
| Affordability ratio | 2.5 | 18th most affordable |
| Five-year population growth | -0.8%[32] | 40th highest |
| Unemployment rate | 2.4%[33] | 8th lowest |
| Property taxes | $790[34] | 39th lowest |
| Educational attainment | 28.7%[35] | 27th highest |
Property values in Dunbar's 25064 zip code rose 45.43% over the last five years, ranking the city 27th highest among evaluated markets in West Virginia.
Dunbar homes have an affordability ratio of 2.5, the 18th most affordable among the markets we evaluated.
How we rank residential real estate markets in West Virginia
We evaluated 368 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. 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.
