West Virginia offers lease option buyers opportunities unlike really any other state. Thanks to highly affordable home prices and a rough year in 2014 for home appreciation, a wide range of properties are both available and well within the range of the average family. Home prices are expected to stabilize this year, recovering at a steady, giving Rent to Own investors the chance to get into their homes and lock down a fair final bid on the sale. Zillow rates the market statewide as healthy, making it a smart investment, especially in bustling urban areas. West Virginia is also home to considerable amounts of raw mountain land, perfect to lease by the acre with a buying option and build your dream home--or just enjoy the rolling hills in their natural state.
King of the MountainWest Virginia is the heart of Appalachia and its great mountain ranges, skirted by multiple national forests. If you love nature, you will love the many trails and outdoor activities possible in the Mountain State. Major industries in the state include coal mining, aerospace, energy, automotive, chemicals, and lumber. Population growth averages at about -0.2 percent annually. Job growth in West Virginia continues at 1.5 percent and unemployment sits at 6.1 percent. For average income, the median household income is $29,696 and the median family income is $36,484 annually.
Potomac Eagle Scenic Railroad, WV. Source: McKenzie News ServiceCountry Roads Take Me Home
Statewide, home prices in West Virginia are exceedingly fair for middle class buyers and investors. Even in major cities, median prices gravitate below the national home value average. Zillow pegs the average home value in West Virginia at $90,700 as of late May 2015. Some of the most popular metro areas in West Virginia are Charleston, Huntington, Parkersburg, Morgantown, and Wheeling.
Education School rankings are mostly average throughout the Mountain State with the best schools concentrated in the northwest. West Virginia has notable universities that include West Virginia University, Marshall University, University of Charleston, Wheeling Jesuit University, and Shepherd University.
In terms of annual crime, violent crime rates are below the 3.8 per 1,000 residents national average at 3 while property crime is 21.04 per 1,000 residents and is below the 27.3 national average.
Charleston, WV. Via FlickrCulture and Entertainment
West Virginia offers a rich history and natural tradition for visitors and residents alike that includes Harper’s Ferry National Historical Park, Seneca Caverns, Cass Scenic Railroad State Park, and Clay Center. Outdoor activities in the mountains and in the forests are some of the main pastimes while cuisine is Southern homestyle. West Virginia is culturally very rural and tied to the mountains, so you won’t find many bustling metropolises here. Small towns abound in the state, so many people retain small town values and attitudes towards life.