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 2,437, 1,181 total housing units (homes and apartments), and a median house value of $162,726, house prices in Mayodan are some of the most affordable in North Carolina as well as the nation.
Single-family detached homes are the single most common housing type in Mayodan, accounting for 81.88% of the town's housing units. Other types of housing that are prevalent in Mayodan include large apartment complexes or high rise apartments ( 14.40%), mobile homes or trailers ( 3.16%).
People in Mayodan primarily live in small (one, two or no bedroom) single-family detached homes. Mayodan has a mixture of owner-occupied and renter-occupied housing.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Mayodan's housing was primarily built during this period, from the '40s through the '60s. A full 42.72% of the town's housing hails from this era. Other housing ages represented in Mayodan include homes built between 1970-1999 ( 31.01%) and housing constructed before 1939 ( 22.55%). There's also some housing in Mayodan built between 2000 and later ( 3.72%).
Appreciation rates for homes in Mayodan have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 105.22%, which ranks in the top 30% nationwide. This equates to an annual average Mayodan house appreciation rate of 7.45%.
Appreciation rates are so strong in Mayodan that despite a nationwide downturn in the housing market, Mayodan real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mayodan appreciation rates continue to be some of the highest in America, at 7.22%, which is higher than appreciation rates in 76.16% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mayodan. Mayodan appreciation rates in the latest quarter were at 1.18%, which equates to an annual appreciation rate of 4.81%.
Relative to North Carolina, our data show that Mayodan's latest annual appreciation rate is lower than 60% of the other cities and towns in North Carolina.
$162,726
for North carolina
for nation
1,181
$1,275 / per month