Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 7,682, 1,662 total housing units (homes and apartments), and a median house value of $410,350, Cullowhee real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in Cullowhee, accounting for 64.50% of the town's housing units. Other types of housing that are prevalent in Cullowhee include duplexes, homes converted to apartments or other small apartment buildings ( 15.13%), single-family detached homes ( 13.15%), and a few mobile homes or trailers ( 7.21%). This particular housing mix is relatively uncommon and characteristic of towns that are compact and walkable, and which often have a lively downtown.
Cullowhee is dominated by renter-occupied one, two, or no bedrooms apartments. 95.22% of Cullowhee's dwellings are rentals.
Cullowhee homes and real estate are some of the newest in America. 64.80% of Cullowhee's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Cullowhee real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 25.09%), and between 1940-1969 ( 10.11%).
Vacant housing appears to be an issue in Cullowhee. Fully 15.59% of the housing stock is classified as vacant. Left unchecked, vacant Cullowhee homes and apartments can be a drag on the real estate market, holding Cullowhee real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Real estate appreciation rates in Cullowhee's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.41% during the period.
NeighborhoodScout's data show that during the latest twelve months, Cullowhee's appreciation rate, at 6.92%, has been at or slightly above the national average. In the latest quarter, Cullowhee's appreciation rate has been 1.46%, which annualizes to a rate of 5.95%.
Relative to North Carolina, our data show that Cullowhee's latest annual appreciation rate is lower than 50% of the other cities and towns in North Carolina.
$410,350
for North carolina
for nation
1,662
$1,355 / per month