Abbeville appreciation rates and housing market information

Abbeville appreciation rates and housing market information

Abbeville housing market information

With a population of 5,183, 2,232 total housing units (homes and apartments), and a median house value of $77,689, the cost of homes in Abbeville is among some of the lowest in the nation. Compared to South Carolina, however, Abbeville real state is not on the lower end of the price spectrum.

Single-family detached homes are the single most common housing type in Abbeville, accounting for 58.79% of the city's housing units. Other types of housing that are prevalent in Abbeville include duplexes, homes converted to apartments or other small apartment buildings (14.06%), mobile homes or trailers (13.34%), and a few large apartment complexes or high rise apartments (13.34%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Abbeville. Owner-occupied housing accounts for 66.42% of Abbeville's homes, and 55.15% have either three or four bedrooms, which is average sized relative to America.

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. Abbeville's housing was primarily built during this period, from the '40s through the '60s. A full 50.24% of the city's housing hails from this era. Other housing ages represented in Abbeville include homes built between 1970-1999 (31.99%) and housing constructed before 1939 (13.02%). There's also some housing in Abbeville built between 2000 and later (4.75%).

Vacant housing appears to be an issue in Abbeville. Fully 13.65% of the housing stock is classified as vacant. Left unchecked, vacant Abbeville homes and apartments can be a drag on the real estate market, holding Abbeville 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.

Abbeville home appreciation rates

Real estate appreciation rates in Abbeville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -1.03% during the period.

Over the last year, Abbeville appreciation rates have trailed the rest of the nation. In the last twelve months, Abbeville's appreciation rate has been -4.72%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Abbeville were at -0.55%, which equates to an annual appreciation rate of -2.19%.

Relative to South Carolina, our data show that Abbeville's latest annual appreciation rate is higher than 50% of the other cities and towns in South Carolina.

Abbeville Help