West Virginia is nicknamed the “mountain state” for good reason. Situated in the Appalachians, the West Virginia real estate market has peeks and valleys as well. West Virginia is somewhat of a misunderstood state when it comes to national recognition. Occasionally shown in a negative light, the state is actually a tremendous location for outdoor enthusiasts. Rock climbing, hiking, fishing, camping and rafting are available in practically every part of the state. Throw in numerous historical sites from the Civil War and West Virginia just might be considered a hidden gem.
West Virginia real estate prices are extremely reasonable throughout the state. The average price of a single family home in Charleston, for instance, is approximately $180,000. The average home price drops to $140,000 for single family homes in Morgantown. It’s pretty hard to find prices this low in the rest of the country, particularly for a town rated the 3rd best in the United States. For the last 12 months, West Virginia real estate has appreciated at a rate of a little over 9 percent. Overall, West Virginia is jumping back onto the national scene because of low real estate prices. Real estate in Morgantown, in particular, may be a very good investment.
Tags: Investment, Real Estate, West Virginia