Charleston West Virginia Residential Rent and Rental Statistics
The median monthly gross residential rent in Charleston, WV (the Charleston metro area) was $698 in 2019 according to the Census ACS survey.1 Average gross rent in Charleston was $591 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Charleston median and average rent data will be released in September of 2021.
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.
Real Gross Rent in Charleston West Virginia (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| West Virginia Median Gross Rent | $727 | -2.81% | +1.82% |
| Charleston, WV Median Gross Rent | $698 | -10.28% | -2.65% |
Charleston, WV Real Gross Rent Trends
Median gross rent for Charleston peaked in real terms in 2018 at $778 and is now $80 (10.28%) lower. Average gross rent for Charleston peaked in real terms in 2014 at $657 and is now $66 (10.05%) lower.
Real Gross Rent in Charleston: Charleston WV Median, Charleston WV Average, West Virginia Median, US Median
Real Gross Rent History for Charleston
| Date | US Median |
West Virginia Median |
Charleston, WV Median |
Charleston, WV Average |
|---|---|---|---|---|
| 2019 | $1,097 | $727 | $698 | $591 |
| 2018 | $1,077 | $748 | $778 | $649 |
| 2017 | $1,043 | $711 | $686 | $589 |
| 2016 | $1,027 | $714 | $717 | $641 |
| 2015 | $1,017 | $716 | $734 | $645 |
| 2014 | $986 | $693 | $738 | $657 |
| 2013 | $953 | $653 | $678 | $608 |
| 2012 | $940 | $646 | $696 | $638 |
| 2011 | $941 | $647 | $732 | $633 |
| 2010 | $955 | $638 | $675 | $601 |
| 2009 | $960 | $629 | $687 | $581 |
| 2007 | $927 | $617 | $661 | $573 |
| 2005 | $910 | $604 | $679 | $573 |
Charleston Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Charleston West Virginia was 10.25% according to Census ACS data.
Rental Vacancy Rate in Charleston West Virginia
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| West Virginia | 7.24% | +0.40% | -0.68% |
| Charleston, WV | 10.25% | +3.74% | +4.07% |
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 1.07% to 10.25%. Data records for this series originated in 2005.
Rental Vacancy Rate: Charleston WV, West Virginia, US
Historical Rental Vacancy Rate data for Charleston
| Date | US | West Virginia | Charleston, WV |
|---|---|---|---|
| 2019 | 5.97% | 7.24% | 10.25% |
| 2018 | 6.15% | 6.84% | 6.51% |
| 2017 | 6.18% | 8.21% | 10.03% |
| 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% |
| 2007 | 7.87% | 8.79% | 8.15% |
| 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 17.63% in 2019 according to the ACS.
Charleston West Virginia Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| West Virginia | 17.86% | -2.14% | -1.00% |
| Charleston, WV | 17.63% | -4.83% | -2.08% |
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 2018 (relative to the 2005 series origin) at 22.47%. Since then it has fallen by 4.83% to 17.63%.
Fraction of Income towards Rent: Charleston WV, West Virginia, US
Historical Data for Annual Rent as a Fraction of Income in Charleston West Virginia
| Date | US | West Virginia | Charleston, WV |
|---|---|---|---|
| 2019 | 20.03% | 17.86% | 17.63% |
| 2018 | 20.50% | 20.00% | 22.47% |
| 2017 | 20.13% | 19.05% | 19.20% |
| 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% |
| 2007 | 18.66% | 17.00% | 16.96% |
| 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 2019 29.13% of households were renters according to Census ACS data.
Charleston Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| West Virginia | 26.59% | -0.91% | -0.97% |
| Charleston, WV | 29.13% | -1.08% | -1.33% |
Trends in the Charleston, WV Renter Fraction
The Charleston household renter fraction peaked in in 2015 at 31.14% and is now 2.01% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Charleston WV, West Virginia, US
History of Charleston Renter Fraction
| Date | US | West Virginia | Charleston, WV |
|---|---|---|---|
| 2019 | 35.89% | 26.59% | 29.13% |
| 2018 | 36.05% | 27.50% | 30.21% |
| 2017 | 36.13% | 27.46% | 28.90% |
| 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% |
| 2007 | 32.80% | 25.13% | 25.60% |
| 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. ↩
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