West Virginia is synonymous with affordability. Affordability as in affordable housing.
Yes, it is one of the cheapest states to buy a house in America. In West Virginia, real estate boasts a lower median home value than every other state in the country. As a result, the West Virginia real estate market has developed a reputation for rewarding prospective buyers with incredibly affordable housing.
With the average home valued at $112,902, it is fair to say buying is considerably more affordable than renting in most parts of the Mountain State, which bodes really well for long-term investors.
On that note, you need to choose the right locations as well, to invest.
Popular Real Estate Advisor, Astrologer and Strategist, Hirav Shah chooses 5 such locations below.
1.Charles Town Real Estate
Invest in Charles Town to get a good taste of solid ROIs. Though Charles Town is a small city with a population of almost 7000, still it’s like a paradise for real estate investors.
The median household income is $71, 000. Its workforce, made up of white and blue-collar employees, tends to commute to work. The community is more than an hour drive from Washington, D.C.
Charles Town’s most expensive neighborhoods are Bloomery/Clips Mill, Middleway, Harewood, and City Center.
So, investors, watch out for Charles Town…
2.Gerrardstown Real Estate
Gerrardstown is not too far from Charles Town. It has a population of less than 10,000. It is a relatively quiet, safe community.
The median home value in Gerrardstown, WV is $315,000. This is higher than the county median home value of $207,000. The national median home value is $277,796. The average price of homes sold in Gerrardstown, WV is $315,000.
Approximately 75% of Gerrardstown homes are owned, compared to 17.67% rented, while 8% are vacant. Gerrardstown real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. All in all, Gerrardstown provides lucrative investment opportunities for real estate investors, not only in 2021 but also beyond.
3.Shepherds town Real Estate
Shepherdst own is also in the neighborhood of Charles Town and Gerrardstown. Heatherfield / Mecklenburg Heights and Town Center / Shepherd U are the most valuable neighborhoods in this community.
Shepherds town has a large college student population. Because of this, it has a youthful vibe, and most of the inhabitants are highly educated. Point is, there is always a demand for rentals for these college goers, which means the real estate market here is always going to swim upstream.
So investors, you can also consider Shepherdstown for property investments…
4. Anmoore Real Estate
Anmoore is a city in West Virginia located in the north-central region. It consists of 28 neighborhoods.
This tiny community has a population of fewer than 1,000. Most of the population consists of blue-collar workers, and less than 5% of people over 25 hold a degree. This is one of the lowest overall levels of education in the country.
Meanwhile, neighborhood Bridgeport has a median listing price of $275K, making it the most expensive one. Clarksburg & Fairmont are other two popular neighborhoods.
Consider buying or renting a home in one of these popular neighborhoods in Anmoore.
5. Kearneysville Real Estate
Population here is less than 5,000.This quiet community has a mix of white-collar and blue-collar jobs, although most of the townspeople commute over 30 minutes to work each day.
Meanwhile, Kearneysville, WV is a balanced market in 2021, which means that the supply and demand of homes are about the same.
Lately, the median list price of homes in Kearneysville, WV was $384.4K, trending up 36.1% year-over-year. The median listing price per square foot was $169. The median sale price was $395K.
You may consider real estate investment in Kearneysville, if you want lucrative returns.
But, don’t delay !!
Final Thoughts on why West Virginia Real Estate can be the hot spot for the the real investors
If you are looking for affordable real estate investments, West Virginia might be the right place for you. The houses are extremely affordable compared with other areas of the U.S., and the housing prices in the popular areas listed above, are expected to rise.
Patience is the trick here, keep patience-Advices Hirav Shah.
All the Best & Keep Growing – Wishes Real Estate’s Most Prominent Business Astrologer™ and Strategist, Hirav Shah.