Cheapest West Virginia Property Investment Markets Below $200K: Look no more for the cheapest rental properties! These are the 5 most affordable West Virginia property investment markets with their GRY.
Home > Resources > Airbnb Investment >
Look no more for the cheapest rental properties! These are the 5 most affordable West Virginia property investment markets with their GRY.
- Last updated on
- August 17, 2023
Key Takeaways
- West Virginia is an untapped real estate market that offers investment opportunities to seasoned and up-and-coming real estate investors.
- This article lists the 5 most affordable West Virginia rental markets with corresponding gross rental yields to jumpstart your income-generating rental property business.
West Virginia is known for its picturesque mountain landscape, but many people do not know that it’s also an affordable real estate market. The state has very competitive housing prices, which can be tapped into a profitable short-term rental market for seasoned and budding Airbnb investors.
In this article, we will take the country road to financial freedom and find the hidden income-generating gems of almost heaven, West Virginia!
Is West Virginia good for real estate?
West Virginia is good for real estate due to its low cost of living. This only makes owning a house a realistic goal. The state also imposes a very competitive property tax with a median of only $785 a year. Aside from the real estate aspect, here are a few metrics that are worth mentioning:
- Recovering economy – The economy of West Virginia continues to grow without any disruption. In fact, the state economy is on its way to full recovery from the impact of the COVID-19 pandemic. The economic outlook for the next 5 years is moderately positive. However, it may be prone to the effects of high inflation and interest rates.
- High tourism spending – Tourists in West Virginia spent more than $4.9 billion in 2021. This was higher than 3.8% compared to the pre-pandemic level. It was also reported that accommodation spending was totaling $723 million and rose 44.1%. Visitors who stayed in short-term rentals spent $176 million, a 15.6% increase from the previous year.
Source: Airbtics Dashboard
While you can already see the aggregate data of an Airbnb city, the figures will also update when you use the advanced filters! The lead will not only be about location. You will know that you can maximize your revenue if you get the right property type and the best number of bedrooms in each of your target cities!
Where are the cheapest real estate markets in West Virginia?
Property prices in West Virginia are among the lowest in the United States. Keeping this in mind, finding a profitable real estate market in the state may seem like looking for a needle in a haystack.
However, we used the Airbtics Custom Market to dig deep into seemingly unprofitable markets.
This powerful feature can better inform our next real estate investment moves. The following markets are not only cheap, but they also have high gross rental yields:
|
|||||
|---|---|---|---|---|---|
| Location | Number of Airbnb Listings | Median Property Price | Number of Bedrooms You Can Get | Airbnb Annual Revenue | GRY |
| Huntington | 23 | $85,000 | 2 Bedrooms | $50,815 | 59.78% |
| Fayetteville | 35 | $129,000 | 3 Bedrooms | $42,964 | 33.41% |
| Charleston | 37 | $190,000 | 3 Bedrooms | $38,495 | 20.26% |
| Oak Hill | 23 | $69,000 | 2 Bedrooms | $13,822 | 20.03% |
| Morgantown | 25 | $42,500 | 2 Bedrooms | $13,542 | 31.86% |
Airbnb Location
Airbnb Dataset
- Total Number of Airbnb Listings: 23
- Median Property Price: $85,000
- Number of Bedrooms You Can Get: 2 bedrooms
- Airbnb Annual revenue: $50,815
- Gross Rental Yield: 59.78%
- Total Number of Airbnb Listings: 35
- Median Property Price: $129,000
- Number of Bedrooms You Can Get: 3 bedrooms
- Airbnb Annual revenue: $42,964
- Gross Rental Yield: 33.31%
- Total Number of Airbnb Listings: 37
- Median Property Price: $190,000
- Number of Bedrooms You Can Get: 3 bedrooms
- Airbnb Annual revenue: $38,495
- Gross Rental Yield: 20.26%
- Total Number of Airbnb Listings: 23
- Median Property Price: $69,000
- Number of Bedrooms You Can Get: 2 bedrooms
- Airbnb Annual revenue: $13,822
- Gross Rental Yield: 20.03%
- Total Number of Airbnb Listings: 25
- Median Property Price: $42,500
- Number of Bedrooms You Can Get: 2 bedrooms
- Airbnb Annual revenue: $13,542
- Gross Rental Yield: 31.86%
Source: Airbtics Dashboard
Airbnb Investors should obtain a business registration certificate for each of their investment property in West Virginia. The city government may also impose applicable taxes, on top of the 6% sales and uses tax imposed by the State of West Virginia.
Affordable Yet Smart Rental Properties
Owning a rental property is a huge milestone for people who wish to get serious in their real estate investments. In this article, we have learned that the West Virginia market is not only cheap but also profitable.
Having a rental property is already an achievement in itself, but success can be sustained by using short-term rental analytics. To prove a point, Airbtics Dashboard opened our eyes to Airbnb profit possibilities in West Virginia. This powerful tool has helped a lot of real estate investors reach sound investment decisions. Yet, we still encourage investors to continue their research and analyze other profitable Airbnb cities in the US!
You can give Airbtics a try by checking out this free Airbnb Calculator!
Short-Term Rental Data
Short-Term Rental Data
-
Quick Links
Annual Airbnb Revenue in Oroville california, USA
Oroville, California| Airbnb Market Data & Overview | USA Oroville, California Airbnb Market Data & Overview USA Is it profitable to do Airbnb in Oroville, …
Best Airbnb Markets in Washington
Best Airbnb Markets in Washington Best Places to Buy an Airbnb in Washington Last updated on: 12th May, 2024 USA / Washington 82% of American …
Annual Airbnb Revenue in Ashford, UK
Ashford| Airbnb Market Data & Overview | UK Ashford Airbnb Market Data & Overview UK Is it profitable to do Airbnb in Ashford, UK? What …
Annual Airbnb Revenue in Wyandotte michigan, USA
Wyandotte, Michigan| Airbnb Market Data & Overview | USA Wyandotte, Michigan Airbnb Market Data & Overview USA Is it profitable to do Airbnb in Wyandotte, …
Best Places to Airbnb in Quebec: A Guide to Real Estate Investment near Montreal
best places to airbnb in Quebec Key Takeaways • The stable economy, thriving labor market, and great quality of life in Montreal and surrounding areas …
Top Property Management Companies Dubai
Top 13 Property Management Companies in Dubai Top 13 Property Management Companies in Dubai Last updated on: 5th July, 2024 This list aims to provide …
