CALCMONEY // HOME AFFORDABILITY // WV // CHARLESTON
How much house can you afford in Charleston? Based on local median home prices, current WV mortgage rates, and Charleston property tax data.
$165,000
$1,021/mo
$43,753/yr
$201,339
Monthly housing costs of $1,021 represent 23.6% of Charleston's median gross monthly income ($4,333/mo). At 23.6%, Charleston falls within the standard 28% affordability threshold at current median income levels.
| Median Home Price | $165,000 |
| Down Payment (20%) | $33,000 |
| Loan Amount | $132,000 |
| Monthly PI Payment | $874 |
| Monthly Property Tax | $78 |
| Monthly Insurance Est. | $69 |
| Total Monthly PITI | $1,021 |
| Housing Cost % of Income | 23.6% |
| Required Income (28% rule) | $43,753/yr |
| Max Affordable Home | $201,339 |
$5,775
$1,314/mo
Charleston Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $165,000 | Charleston city median |
| Down Payment (20%) | $33,000 | Conventional loan |
| Monthly PITI | $1,021 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $43,753 | Annual gross |
| Max Affordable Home | $201,339 | Based on median income |
| FHA Down (3.5%) | $5,775 | Minimum FHA |
| Housing Cost % of Income | 23.6% | Median income: $52,000/yr |
| Property Tax Rate | 0.57% | $940/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Charleston is $165,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $132,000, generating a monthly P&I payment of $874. Adding property taxes ($78/mo) and homeowners insurance ($69/mo) brings total monthly PITI to $1,021.
Charleston's property tax rate of 0.57% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Charleston median home, that is $78/month, or $940 per year.
West Virginia levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Charleston should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Charleston's median income of $52,000/year can afford up to $1,213/month in total housing costs. Based on Charleston's mortgage rate of 6.95% and property tax rate of 0.57%, that translates to a maximum affordable home price of approximately $201,339 with 20% down on a 30-year loan.
To afford the median Charleston home priced at $165,000, you need an annual gross income of approximately $43,753. Total monthly housing costs (principal and interest of $874, property taxes of $78, and insurance of $69) come to $1,021/month, which equals 28% of the required income.
At the median home price of $165,000 and median household income of $52,000, the total monthly housing cost of $1,021 represents 23.6% of gross monthly income. This is within the standard 28% guideline, making Charleston relatively accessible at current income levels.
A conventional 20% down payment on the median Charleston home of $165,000 is $33,000. An FHA loan requires just 3.5% down — $5,775 — but adds mortgage insurance of roughly $113/month, bringing total FHA payments to $1,314/month.
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