Asheboro, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Asheboro, NC Real Estate Data


Asheboro Housing Market Information

With a population of 26,103, 10,203 total housing units (homes and apartments), and a median house value of $113,905, house prices in Asheboro are solidly below the national average.

Single-family detached homes are the single most common housing type in Asheboro, accounting for 57.02% of the city's housing units. Other types of housing that are prevalent in Asheboro include large apartment complexes or high rise apartments ( 17.36%), duplexes, homes converted to apartments or other small apartment buildings ( 14.76%), and a few mobile homes or trailers ( 7.03%).

People in Asheboro primarily live in small (one, two or no bedroom) single-family detached homes. Asheboro has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Asheboro 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 Asheboro built between 1940-1969 ( 34.95%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.31%). There's also some housing in Asheboro built before 1939 ( 6.43%).

Vacant housing appears to be an issue in Asheboro. Fully 11.88% of the housing stock is classified as vacant. Left unchecked, vacant Asheboro homes and apartments can be a drag on the real estate market, holding Asheboro 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.

Asheboro Home Appreciation Rates

Real estate appreciation rates in Asheboro's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.71% during the period.

Over the last year, Asheboro appreciation rates have trailed the rest of the nation. In the last twelve months, Asheboro's appreciation rate has been 2.58%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Asheboro were at -1.59%, which equates to an annual appreciation rate of -6.23%.

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

Relative to North Carolina, our data show that Asheboro's latest annual appreciation rate is lower than 60% 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 Asheboro differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Asheboro - 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 Asheboro real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$113,905

Asheboro, NC HOME PRICES

Value Range
> $1,029,000 0.1
$772,001 - $1,029,000 0.3
$515,001 - $772,000 0.7
$412,001 - $515,000 0.7
$309,001 - $412,000 2.5
$206,001 - $309,000 5.8
$103,001 - $206,000 44.8
$51,001 - $103,000 35.4
$0 - $51,000 9.5

Low for NC
Low for Nation

Value Relative to Nation Value Relative to State
68.8327669049572 68.0580762250454

Number Of Homes And Apartments:
10,203

Rent & Ownership

 

Average Market Rent:
$771 / per month

Homeownership Rate

Homeownership
Owners 49.83
Renters 50.17
Vacant 11.88

Housing Market Details

 

Age of Homes

AGE OF Asheboro HOMES
2000 or Newer 18.3
1970 - 1999 40.3
1940 - 1969 35.0
1939 or Older 6.4

Types of Homes

TYPE OF Asheboro HOMES
Single-Family 57.0
Townhomes 3.8
Small Apt. Buildings 14.8
Apt. Complexes 17.4
Mobile Homes 7.0
Other 0.0

Home Size

SIZE OF Asheboro HOMES
No Bedroom 1.67
1 Bedroom 12.73
2 Bedrooms 36.71
3 Bedrooms 42.00
4 Bedrooms 4.72
5 or more bedrooms 2.18

Asheboro Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
3.94% 0.22% 1 1
* 10 is highest