Mullins appreciation rates and housing market information
Mullins housing market information
With 4,680 people, 1,877 houses or apartments, and a median cost of homes of $75,808, house prices in Mullins are solidly below the national average.
Single-family detached homes are the single most common housing type in Mullins, accounting for 77.44% of the city's housing units. Other types of housing that are prevalent in Mullins include duplexes, homes converted to apartments or other small apartment buildings (13.87%), large apartment complexes or high rise apartments (4.26%), and a few mobile homes or trailers (3.25%).
The most prevalent building size and type in Mullins are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.89% owning and 49.11% renting.
There is a lot of housing in Mullins built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Mullins built between 1940-1969 (41.48%). A lesser amount of the housing stock also hails from before 1939 (13.92%). There's also some housing in Mullins built between 2000 and later (1.23%).
Vacant housing appears to be an issue in Mullins. Fully 25.42% of the housing stock is classified as vacant. Left unchecked, vacant Mullins homes and apartments can be a drag on the real estate market, holding Mullins 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.
Mullins home appreciation rates
Mullins's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mullins during the period has been just -0.38%, which is lower than 70% of US communities.
Over the last year, Mullins appreciation rates have trailed the rest of the nation. In the last twelve months, Mullins's appreciation rate has been -2.36%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mullins were at -0.30%, which equates to an annual appreciation rate of -1.18%.
Relative to South Carolina, our data show that Mullins's latest annual appreciation rate is lower than 60% of the other cities and towns in South Carolina.