Albemarle, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Albemarle Neighborhoods Since 2000




Albemarle, NC Real Estate Data


Albemarle Housing Market Information

With 16,003 people, 6,524 houses or apartments, and a median cost of homes of $135,438, house prices in Albemarle are solidly below the national average.

Single-family detached homes are the single most common housing type in Albemarle, accounting for 75.93% of the city's housing units. Other types of housing that are prevalent in Albemarle include large apartment complexes or high rise apartments ( 11.51%), duplexes, homes converted to apartments or other small apartment buildings ( 9.30%), and a few mobile homes or trailers ( 2.08%).

The most prevalent building size and type in Albemarle are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.55% owning and 45.45% renting.

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. Albemarle's housing was primarily built during this period, from the '40s through the '60s. A full 33.20% of the city's housing hails from this era. Other housing ages represented in Albemarle include homes built between 1970-1999 ( 29.79%) and housing constructed before 1939 ( 22.22%). There's also some housing in Albemarle built between 2000 and later ( 14.79%).

Vacant housing appears to be an issue in Albemarle. Fully 13.77% of the housing stock is classified as vacant. Left unchecked, vacant Albemarle homes and apartments can be a drag on the real estate market, holding Albemarle 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.

Albemarle Home Appreciation Rates

Real estate appreciation rates in Albemarle's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.20% during the period.

NeighborhoodScout's data show that during the latest twelve months, Albemarle's appreciation rate, at 4.48%, has been at or slightly above the national average. In the latest quarter, Albemarle's appreciation rate has been 0.99%, which annualizes to a rate of 4.04%.

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

Relative to North Carolina, our data show that Albemarle's latest annual appreciation rate is lower than 50% 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 city. Individual neighborhoods within Albemarle differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Albemarle - 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 Albemarle real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$135,438

Albemarle, NC HOME PRICES

Value Range
> $1,056,000 0.1
$792,001 - $1,056,000 0.3
$528,001 - $792,000 1.4
$422,001 - $528,000 1.6
$317,001 - $422,000 4.4
$211,001 - $317,000 12.5
$105,001 - $211,000 44.1
$53,001 - $105,000 27.3
$0 - $53,000 8.3

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
57.9492885167184 53.3575317604356

Number Of Homes And Apartments:
6,524

Rent & Ownership

 

Average Market Rent:
$812 / per month

Homeownership Rate

Homeownership
Owners 54.55
Renters 45.45
Vacant 13.77

Housing Market Details

 

Age of Homes

AGE OF Albemarle HOMES
2000 or Newer 14.8
1970 - 1999 29.8
1940 - 1969 33.2
1939 or Older 22.2

Types of Homes

TYPE OF Albemarle HOMES
Single-Family 75.9
Townhomes 1.2
Small Apt. Buildings 9.3
Apt. Complexes 11.5
Mobile Homes 2.1
Other 0.0

Home Size

SIZE OF Albemarle HOMES
No Bedroom 2.30
1 Bedroom 8.90
2 Bedrooms 33.80
3 Bedrooms 42.86
4 Bedrooms 9.99
5 or more bedrooms 2.15

Albemarle Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
14.72% 0.81% 2 2
* 10 is highest