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 Ardmore oklahoma, USA
Ardmore, Oklahoma| Airbnb Market Data & Overview | USA Ardmore, Oklahoma Airbnb Market Data & Overview USA Is it profitable to do Airbnb in Ardmore, …
Annual Airbnb Revenue in Roswell georgia, USA
Roswell, Georgia| Airbnb Market Data & Overview | USA Roswell, Georgia Airbnb Market Data & Overview USA Is it profitable to do Airbnb in Roswell, …
Best Places to Invest in Airbnb in Guadalajara, Mexico 2023
Key Takeaways • As one of the main economic, political, cultural, and touristic centers of the country, Guadalajara offers plenty of attractive opportunities to investors …
The Ultimate Guide: How to Find Rental Arbitrage Properties
Are you wondering how to find rental arbitrage properties? In this article, we will show you the best ways to find profitable properties! Home > …
Where to Invest in Austin in March 2023: Festivals Edition
Where to invest in Austin Key Takeaways Austin hosts fascinating events throughout the year that attract a great number of guests, thus, Airbnb hosts can …
Annual Airbnb Revenue in Fridley minnesota, USA
Fridley, Minnesota| Airbnb Market Data & Overview | USA Fridley, Minnesota Airbnb Market Data & Overview USA Is it profitable to do Airbnb in Fridley, …
