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 2,355 people, 784 houses or apartments, and a median cost of homes of $193,361, house prices in Richlands are solidly below the national average.
Single-family detached homes are the single most common housing type in Richlands, accounting for 84.41% of the town's housing units. Other types of housing that are prevalent in Richlands include duplexes, homes converted to apartments or other small apartment buildings ( 5.23%), row houses and other attached homes ( 3.64%), and a few mobile homes or trailers ( 3.41%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Richlands. Owner-occupied housing accounts for 65.18% of Richlands's homes, and 61.43% have either three or four bedrooms, which is average sized relative to America.
Richlands homes and real estate are some of the newest in America. 58.48% of Richlands'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 Richlands real estate market has to offer. Quite a bit of the housing here was also built between 1940-1969 ( 19.45%), and between 1970-1999 ( 17.75%). There's also some housing in Richlands built before 1939 ( 4.32%).
Vacant housing appears to be an issue in Richlands. Fully 10.81% of the housing stock is classified as vacant. Left unchecked, vacant Richlands homes and apartments can be a drag on the real estate market, holding Richlands 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 Richlands's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.92% during the period.
Appreciation rates are so strong in Richlands that despite a nationwide downturn in the housing market, Richlands real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Richlands appreciation rates continue to be some of the highest in America, at 14.45%, which is higher than appreciation rates in 99.49% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Richlands. Richlands appreciation rates in the latest quarter were at 3.55%, which equates to an annual appreciation rate of 14.98%.
Importantly, this makes Richlands one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to North Carolina, our data show that Richlands's latest annual appreciation rate is higher than 90% of the other cities and towns in North Carolina.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Richlands differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Richlands - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Richlands real estate investment or home purchase decisions.
$193,361
for North carolina
for nation
784
$1,215 / per month