Location: Charleston, WV | Metro: Charleston, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 25075 presents a unique set of conditions that will shape the market over the next 12-24 months. With the median home value currently unavailable, it's important to focus on other indicators such as the percentage of listings reduced and the median days on market (DOM).
The fact that N/A% of listings have been reduced signals a seller's market is likely transitioning into a buyer's market. This reduction indicates that sellers are becoming more flexible with their prices to attract buyers, suggesting that demand may be cooling relative to supply.
A median DOM of N/A days also points towards a balanced market. A high DOM typically indicates a surplus of inventory or a lack of demand, whereas a low DOM suggests strong demand. An average DOM implies neither side has significant pricing power at the moment, but this could shift if the trend of reduced listings continues.
On the rental side, the Fair Market Rent (FMR) for ZIP 25075 is set at $1000 for fiscal year 2024, which is higher than the current market rent of N/A. This increase in FMR could indicate growing rental demand or rising costs of living in the area. However, without a specific current market rent figure, it's challenging to gauge the exact impact on the rental market.
For long-term hold investors, the setup implies a cautious approach is necessary. The lack of available appreciation thesis based on the current data suggests that any growth in property values will be modest and tied closely to broader economic trends and local employment rates. It's essential to monitor both the housing and rental markets closely for signs of shifting dynamics.
In summary, the combination of reduced listings and an average DOM suggests a market where neither buyers nor sellers currently hold significant pricing power. The increase in FMR for rentals signals potential growth in demand, but the absence of specific current market data makes it difficult to form a robust appreciation thesis for long-hold investors.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.