Is It Worth Buying a Home in Charleston, WV?
The decision to rent or buy in Charleston, West Virginia depends on how long you plan to stay, your down payment, and current mortgage rates. With a median home price of $145,000 and median monthly rent of $1,050, the math plays out differently depending on your personal situation.
Charleston has an average property tax rate of 0.57% annually, which adds approximately $69/month to the cost of homeownership on a median-priced home.
Historically, home values in Charleston have appreciated at roughly 1.5% per year, which works in favor of buyers who plan to stay long-term. Use the calculator above to find your personal break-even point.
Key Factors for Charleston Buyers
- Down payment of 20% on a median home = $29,000
- Monthly mortgage (30yr at 6.99%) ≈ $771/mo
- Property tax ≈ $69/mo
- Estimated maintenance ≈ $121/mo