Department of Numbers

Charleston West Virginia Residential Rent and Rental Statistics

The median monthly gross residential rent in Charleston, WV (the Charleston metro area) was $685 in 2016 according to the Census ACS survey.1 Average gross rent in Charleston was $612 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Charleston median and average rent data will be released in September of 2018.

Data is also available below for Charleston rental vacancy rates, Charleston rent as a percent of median income and the fraction of renters in Charleston.

Show dollars as: Nominal Real

Real Gross Rent in Charleston West Virginia (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
West Virginia Median Gross Rent $682 -0.29% +9.29%
Charleston, WV Median Gross Rent $685 -2.28% +5.71%

Charleston, WV Real Gross Rent Trends

Median gross rent for Charleston peaked in real terms in 2014 at $705 and is now $20 (2.84%) lower. Average gross rent for Charleston peaked in real terms in 2014 at $627 and is now $15 (2.39%) lower.

Real Gross Rent in Charleston: Charleston WV Median, Charleston WV Average, West Virginia Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Charleston

Date US
Median
West Virginia
Median
Charleston, WV
Median
Charleston, WV
Average
2016 $981 $682 $685 $612
2015 $972 $684 $701 $616
2014 $942 $661 $705 $627
2013 $910 $624 $648 $580
2012 $898 $617 $664 $610
2011 $898 $618 $699 $604
2010 $912 $609 $645 $574
2009 $916 $601 $656 $555
2008 $932 $597 $615 $538
2007 $885 $589 $632 $548
2006 $895 $585 $603 $538
2005 $869 $577 $648 $547

Charleston Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Charleston West Virginia was 6.18% according to Census ACS data.

Rental Vacancy Rate in Charleston West Virginia

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
West Virginia 7.92% +1.10% +0.17%
Charleston, WV 6.18% -0.55% -1.86%

Trends in Charleston, WV Rental Vacancy Rate

The rental vacancy rate in Charleston peaked in 2011 at 11.32%. Since then it has fallen by 5.14% to 6.18%. Data records for this series originated in 2005.

Rental Vacancy Rate: Charleston WV, West Virginia, US

Rental vacancy rate in West Virginia

Historical Rental Vacancy Rate data for Charleston

Date US West Virginia Charleston, WV
2016 5.89% 7.92% 6.18%
2015 5.85% 6.82% 6.73%
2014 6.32% 8.91% 8.04%
2013 6.49% 7.75% 8.04%
2012 6.77% 6.82% 8.74%
2011 7.40% 8.13% 11.32%
2010 8.17% 8.96% 9.21%
2009 8.43% 8.76% 8.07%
2008 7.86% 7.42% 5.68%
2007 7.87% 8.79% 8.15%
2006 7.70% 6.09% 7.76%
2005 7.74% 7.58% 7.24%

Rent as a Fraction of Income

Using median household income data for Charleston, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Charleston, median monthly gross rent as a fraction of median household income was 19.72% in 2016 according to the ACS.

Charleston West Virginia Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
West Virginia 18.86% -0.41% +0.83%
Charleston, WV 19.72% +0.19% +2.64%

Trends in Charleston, WV Rent as a Fraction of Income

The fraction of median Charleston household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 19.85%. Since then it has fallen by 0.13% to 19.72%.

Fraction of Income towards Rent: Charleston WV, West Virginia, US

Percent of median household income going towards median monthly gross rent in Charleston West Virginia

Historical Data for Annual Rent as a Fraction of Income in Charleston West Virginia

Date US West Virginia Charleston, WV
2016 20.43% 18.86% 19.72%
2015 20.63% 19.28% 19.53%
2014 20.89% 19.17% 19.62%
2013 20.78% 18.04% 17.08%
2012 20.65% 18.12% 16.48%
2011 20.70% 18.68% 19.85%
2010 20.50% 17.93% 16.50%
2009 20.12% 17.69% 17.17%
2008 19.00% 16.68% 15.21%
2007 18.66% 17.00% 16.96%
2006 18.90% 17.08% 16.82%
2005 18.89% 17.33% 16.74%

Renter Fraction in Charleston West Virginia

You can calculate the renter fraction in Charleston in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Charleston as a fraction of total Charleston households. In 2016 30.46% of households were renters according to Census ACS data.

Charleston Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
West Virginia 27.56% -0.13% -0.11%
Charleston, WV 30.46% -0.68% +1.13%

Trends in the Charleston, WV Renter Fraction

The Charleston household renter fraction peaked in in 2015 at 31.14% and is now 0.68% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Charleston WV, West Virginia, US

Fraction of renters in Charleston

History of Charleston Renter Fraction

Date US West Virginia Charleston, WV
2016 36.88% 27.56% 30.46%
2015 36.97% 27.69% 31.14%
2014 36.90% 27.83% 30.08%
2013 36.50% 27.67% 29.33%
2012 36.09% 28.02% 25.85%
2011 35.42% 27.74% 26.11%
2010 34.65% 25.41% 25.35%
2009 34.13% 26.38% 25.49%
2008 33.36% 26.27% 27.39%
2007 32.80% 25.13% 25.60%
2006 32.73% 25.34% 25.26%
2005 33.10% 24.63% 25.55%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.