Roy Deeley-Price was discovered with serious injuries in Tettenhall Road at just after 7am on Monday and was confirmed dead at the scene.
West Midlands Police arrested Carl Ellitts in connection with the death on Wednesday and he has now been charged with murder. The 25-year-old, of no fixed address, has also been charged with three unrelated robbery matters, three counts of rape and two offences of assault.
He has been remanded to appear before Wolverhampton Magistrates Court today.
In a statement, the family of 48-year-old Mr Deeley-Price said: "Roy's life was not without its troubles, however he did not deserve to have this happen to him.
"He will be sadly missed by all who loved him, whose hearts will never heal. He was incredibly proud of his two children and only ever wished the best for everyone. Live forever Roy - See you later."
Four other people arrested in connection with the death of Mr Deeley-Price have been bailed pending further enquiries.
Anyone with information is urged to contact officers using Live Chat on the West Midlands Police website, or by calling 101, quoting log number 1574 of May 28.
Information can also be given to Crimestoppers anonymously on 0800 555 111.