Carthage, MO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Carthage Neighborhoods Since 2000




Carthage, MO Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Carthage Housing Market Information

With a population of 14,319, 5,110 total housing units (homes and apartments), and a median house value of $114,120, house prices in Carthage are solidly below the national average.

Single-family detached homes are the single most common housing type in Carthage, accounting for 74.62% of the city's housing units. Other types of housing that are prevalent in Carthage include large apartment complexes or high rise apartments ( 10.50%), duplexes, homes converted to apartments or other small apartment buildings ( 10.44%), and a few mobile homes or trailers ( 2.88%).

The most prevalent building size and type in Carthage are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.18% owning and 46.82% renting.

There is a lot of housing in Carthage 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 Carthage built before 1939 ( 27.98%). A lesser amount of the housing stock also hails from between 1940-1969 ( 27.26%). There's also some housing in Carthage built between 2000 and later ( 9.77%).

Vacant housing appears to be an issue in Carthage. Fully 11.35% of the housing stock is classified as vacant. Left unchecked, vacant Carthage homes and apartments can be a drag on the real estate market, holding Carthage 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.

Carthage Home Appreciation Rates

Appreciation rates for homes in Carthage have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.22%, which ranks in the top 50% nationwide. This equates to an annual average Carthage house appreciation rate of 0.12%.

Appreciation rates are so strong in Carthage that despite a nationwide downturn in the housing market, Carthage real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Carthage appreciation rates continue to be some of the highest in America, at 6.84%, which is higher than appreciation rates in 80.23% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Carthage. Carthage appreciation rates in the latest quarter were at -2.11%, which equates to an annual appreciation rate of -8.18%.

Notably, Carthage's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Missouri, our data show that Carthage's latest annual appreciation rate is higher than 90% of the other cities and towns in Missouri.

Average Home Values

 

Median Home Value:
$114,120

Carthage, MO HOME PRICES

Value Range
> $1,056,000 0.0
$792,001 - $1,056,000 1.8
$528,001 - $792,000 0.5
$422,001 - $528,000 1.3
$317,001 - $422,000 1.9
$211,001 - $317,000 7.7
$105,001 - $211,000 38.5
$53,001 - $105,000 32.0
$0 - $53,000 16.4

Average for MO
Low for Nation

Value Relative to Nation Value Relative to State
68.838626508848 58.2

Number Of Homes And Apartments:
5,110

Carthage Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MO*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
23.06% 1.21% 2 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$868 / per month

Homeownership Rate

Homeownership
Owners 53.18
Renters 46.82
Vacant 11.35

Housing Market Details

 

Age of Homes

AGE OF Carthage HOMES
2000 or Newer 9.8
1970 - 1999 35.0
1940 - 1969 27.3
1939 or Older 28.0

Types of Homes

TYPE OF Carthage HOMES
Single-Family 74.6
Townhomes 1.6
Small Apt. Buildings 10.4
Apt. Complexes 10.5
Mobile Homes 2.9
Other 0.0

Home Size

SIZE OF Carthage HOMES
No Bedroom 2.32
1 Bedroom 9.80
2 Bedrooms 33.48
3 Bedrooms 38.29
4 Bedrooms 11.05
5 or more bedrooms 5.05