Mortgage payment estimates, closing cost breakdowns, and homebuying data for Charleston, West Virginia.
Median Home Price
$155K
Population
48K
Avg Monthly Rent
$880
Property Tax Rate
0.58% *
* Property tax shown is the West Virginia state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Charleston.
Charleston vs West Virginia Median
The median home price in Charleston is $155,000, which is roughly in line with the West Virginia state median of $155,000.
Mortgage Calculator — Charleston, WV
Pre-filled with Charleston median home price and West Virginia tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $155K home using West Virginia's 0.58% tax rate and $1,400/yr insurance.
5% Down
$1,208/mo
Down: $7,750
Loan: $147K
P&I: $931
Tax: $75
Insurance: $117
PMI: $86
10% Down
$1,155/mo
Down: $15,500
Loan: $140K
P&I: $882
Tax: $75
Insurance: $117
PMI: $81
20% Down (No PMI)
$975/mo
Down: $31,000
Loan: $124K
P&I: $784
Tax: $75
Insurance: $117
Income needed (28% rule): $42K/year with 20% down, $50K/year with 10% down.
Rent vs Buy in Charleston
Rent
$880/mo
vs
Buy (10% down)
$1,155/mo
Price-to-rent ratio: 14.7 — With a ratio under 15, buying in Charleston is likely more cost-effective than renting if you plan to stay 3+ years. The monthly cost of buying is $275 more than renting, but you build equity with every payment.
The median home price in Charleston is $155,000, roughly in line with the West Virginia state median of $155,000. With a population of 48,006, Charleston is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in West Virginia average 0.58% annually. This low property tax rate is a significant advantage for Charleston buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in West Virginia runs approximately $1,400 per year. This is within the normal range nationally.
Average rent in Charleston is $880/month. With a price-to-rent ratio under 15, buying may be more cost-effective than renting in Charleston over the long term.
Charleston offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with West Virginia's WVHDF Homeownership Program program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Charleston.