Study identifies a housing gap of nearly 29,000 housing units as major economic investments drive job and household growth.
CHARLESTON, W.Va. (August 27, 2026) — Advantage Valley today released its 2026 Housing Needs Assessment Update during a webinar featuring Patrick Bowen, president and founder of Bowen National Research, which prepared the study. The update provides new data on housing demand, availability, affordability and development opportunities across the region.
The assessment updates the comprehensive regional Housing Needs Assessment completed in late 2023 and compares key findings to illustrate how the housing market has changed during the past three years.
Major economic investments underway or planned throughout the Advantage Valley region are expected to generate an estimated 17,268 direct and indirect jobs. The updated assessment projects that the region will have a housing gap of 28,976 residential units during the next five years, including 10,604 rental units and 18,372 for-sale homes.
Although the estimated housing gap has declined by approximately 7% since the 2023 assessment, the region’s housing needs remain significant. The updated findings point to substantial opportunities for new construction, adaptive reuse, rehabilitation and public-private investment.
“Our goal was to quantify the region’s housing need and provide credible, market-level information that developers, lenders, communities and employers can use to make decisions,” said Terrell Ellis, President and CEO of Advantage Valley. “By putting clear evidence in the hands of private-sector and public partners, we hope to reduce uncertainty, encourage investment and give developers greater confidence to take the risk of building here. Housing is essential workforce infrastructure, and increasing our housing supply will be critical to sustaining the economic growth occurring across the region.”
The assessment found that the region’s multifamily rental properties have an overall occupancy rate of 98.4%, well above the 94% to 96% range typically associated with a balanced rental market. More than 1,300 households are currently on waiting lists for affordable rental housing.
For-sale housing is similarly constrained. Only 621 homes were available for purchase at the time of the assessment, representing an availability rate of just 0.4%, compared with a typically healthy rate of 2% to 3%. The median sales price of homes in the region increased by 44.2% between 2020 and 2025.
“The Advantage Valley market is ripe for housing development,” said Patrick Bowen, Founder and President of Bowen National Research. “Major investment and job creation are increasing demand at a time when rental occupancy is exceptionally tight and for-sale inventory remains extremely limited. Jobs cannot translate into sustained regional growth unless workers can find housing they can afford and want to live in. The housing need is critical, but it also represents a significant opportunity for developers and investors prepared to enter the market.”
The assessment also points to the need for a broader range of housing choices, including attainable workforce rentals, market-rate apartments, senior-friendly housing and homes at a variety of price points. Between 2023 and 2026, median market-rate rents increased by 17.4% for one-bedroom units, 32.3% for two-bedroom units and 9.9% for three-bedroom units.
View the Reports Here (or at Advantagevalley.com under Housing)
2026 Full Updated Housing Needs Assessment — 253 pages
2026 Executive Summary — 2 pages
2023–2026 Side-by-Side Comparison and Talking Points
The 2026 Advantage Valley Housing Needs Assessment Update is presented by Advantage Valley, with financial support provided by the Appalachian Regional Commission, AB Contracting and Service Wire.
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About Advantage Valley
Advantage Valley, Inc. is a regional economic development organization whose mission is to grow economic opportunity in the Charleston-Huntington Metro Area by increasing investment in the region, leveraging resources and building collaboration among community stakeholders.
About Bowen National Research
Bowen National Research, out of Pickerington, Ohio, provides real estate market analysis and housing needs assessments for rural and urban communities throughout the United States and U.S. territories. Using extensive property data, geospatial tools, and demographic and economic research, the firm helps clients make informed, data-driven development decisions.