For cash flow and entry affordability, Charleston, WV deserves the first property-level screen. Its Zillow city indexes show a 9.54% gross yield and a $172,277.67 home-value index, versus 7.57% and $224,680.24 in Hattiesburg, MS. Charleston also has a 2.62 price-to-income measure, compared with 4.85 for Hattiesburg. The yield is only a gross screening metric, so the next step is verifying achievable unit rent, occupancy, taxes, insurance, repairs and capital needs.
For renter pressure, Hattiesburg has the stronger demand-side profile but also greater tenant affordability risk. Renters represent 62.79% of households there versus 36.74% in Charleston, while the ACS rent-burden measure is 51.55% versus 46.78%. Hattiesburg also has the lower city vacancy rate, 11.33% against 17.33%. Underwriting should test whether those signals persist around the specific property and whether household incomes support the asking rent without elevated delinquency or turnover.
Housing-stock preference determines the better fit. Charleston offers more single-family exposure, while Hattiesburg has more large multifamily stock; Charleston’s median year built is 1957, compared with 1981 in Hattiesburg, making inspection scope especially important there. For local demand, Hattiesburg has the more favorable population direction: its ACS population change was 5.47%, while Charleston’s was -1.22%. However, Hattiesburg’s 28.29% poverty rate and 8.66% unemployment rate weaken that signal. Prioritize Charleston for yield-led or lower-entry acquisitions, and Hattiesburg for renter-depth or growth-led searches, subject to address-level validation.