The top rental markets in West Virginia are Huntington, Charleston, and Wheeling.
The TurboTenant Report includes analysis of the average number of leads per property, the average number of days on market, average rent price, median sale price, median income, security deposit trends and livability score.
West Virginia Rental Trends:
West Virginia is located in the Appalachian region in the south of the U.S. With a strong economy in services, tourism, and manufacturing, West Virginia is an affordable and safe option for property investors. Here are some highlights from the top rental markets in the Mountain State.
Days on Market:
The city with the lowest days on market is Huntington at 12 – under the national average which sits at 15 days; Wheeling has the highest number of days on market at 18.
The top two towns for the largest amount of leads per listing are above the national average which sits at 38. Here they are:
- Wheeling – 149 leads per listing
- Huntington – 75 leads per listing
Average Rent: (2 bedroom listings)
With the national average rent at $1,207 for a two-bedroom, Charleston comes below that with the lowest average rent of $694 for a two-bedroom compared to the highest rent in West Virginia at $718 in Huntington, still well below the national average.
Median Home Sale Price:
According to data from Redfin, which is a national real estate brokerage company, the national median home sale price sits at $306,000. West Virginia’s highest median sale price comes below that at $116,000 in Charleston with its lowest median sale price at $102,000 in Wheeling.
West Virginia’s median income rings in at $41,400 – below the national average at $48,500.
Security Deposit Trends:
Security deposits have both risen and fallen in West Virginia’s cities between 2018 and 2019. With the largest being an increase of 41.41% in Wheeling at $700, and the largest decrease at -19.35% in Huntington with the current average at around $625 – under the national average for security deposits which is $1,200.
All of West Virginia’s cities have a livability score of 59 or higher with the highest being Wheeling at 68!
Please visit here for our full methodology.
Whether you’ve found the best investment property in these top rental markets, or somewhere else, TurboTenant can help streamline your rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.