Poorest city in America. Where you can buy a starter home for $50,000.

One of the poorest cities in America is Charleston, West Virginia. The capital of West Virginia. Where houses routinely sell for less than $100,000, and even as low as $50,000.

The reason that houses are so cheap in West Virginia is because the area is economically devastated from a downturn in the coal production industry. As a result, jobs and wages have stagnated.

The housing market in West Virginia is one of the most affordable in America. In this video I showed you a foreclosure which is listed for $85,000, to go along with a massive mansion that is only listed for $650,000.
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[ReventureConsulting]

West Virginia was surprisingly beautiful. State has a lot of potential if a handful more people choose to move there.

Track data on the most affordable areas to live and buy a house in America on Reventure App. www.reventure.app

Make sure to check out the brand new "Salary to Afford a House" data point. In Charleston, WV, you only need to make $37k.

[sarawilliam]

I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.

[Hannahbenowitz]

Mortgage rates are currently at an all time high since 2000(23 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market

[bernadofelix]

fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.

[timgibney]

West Virginia is gorgeous in the apalachians. Plenty of nature, mountains, and trails

[BridgetMiller-]

I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.

[Hypes]

If you drive about an hour northwest of Charleston you would see a new 3 billion dollar steel mill that is being built. It’s not all doom and gloom here in WV. We have the same issues as all the other 49 states. Just depends on the neighborhood.

[buckbiro]

I spent some time in Charleston for work. It’s absolutely beautiful and overall the people are hard working and kind. Not a bad place to live if you can make a living.

[CameronFussner]

Back in the day, when I purchased my first home to live-in; that was Charleston, West Virginia in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

[billsmith]

if you like to hunt, fish, go 4 wheeler riding, boating, hiking, anything outdoors, WV rocks. Beautiful state and cheap to live. If you have a job is the key. WV has some of the best SXS trails in the country, over 600 miles on the Hatfield and McCoy trail system.

[Riggsnic_co]

I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

[RobotsCanDoAnything]

Nick, I enjoy these drive and explore videos deep in the the heart of America.

Great job.

[bigmaky]

I was in Charleston 20 years ago and was impressed with how there wasn't any trash in the streets. Watching your video I can see that that is still true.

[derek]

Nick, this is one of your best videos. Thank you for traveling to a less popular destination to show us around.

[pegtop]

West Virginia is gorgeous. It is a paradise for an outdoors person. For someone who doesn’t need a job (retirement etc) and loves fishing hunting exploring etc.... gorgeous. Trout!

[TCxfan]

I forgot this wasn't a Peter Santenello video for a sec and expected you to go talk to those people by the train tracks and interview them about life in Charleston. lol 1:55

[ralphseewald]

This is one of your best videos yet. It kept my full attention from beginning to end. Great visuals I couldn't look away

[WVURxMan]

My sister moved from the Seattle suburbs to Parkersburg, WV. The equity from selling her house was enough to buy a house, cash. Living a much more secure life now.

[bettymohr]

Really appreciate this video. Please do more like this.

[drderail]

Pro tip - WV requires all Auctioneers to be licensed Realtors. That means you can call the Realtor and make an offer before the auction date and they have to take the offer to the owner for consideration. You still have to pay the buyers premium though.