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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 575, 199 total housing units (homes and apartments), and a median house value of $277,782, Bailey real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Bailey, accounting for 78.47% of the town's housing units. Other types of housing that are prevalent in Bailey include mobile homes or trailers ( 13.19%), large apartment complexes or high rise apartments ( 3.82%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.82%).
The most prevalent building size and type in Bailey are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 59.64% owning and 40.36% 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. Bailey's housing was primarily built during this period, from the '40s through the '60s. A full 38.89% of the town's housing hails from this era. Other housing ages represented in Bailey include homes built before 1939 ( 25.69%) and housing constructed between 1970-1999 ( 25.35%). There's also some housing in Bailey built between 2000 and later ( 10.07%).
Vacant housing appears to be an issue in Bailey. Fully 30.90% of the housing stock is classified as vacant. Left unchecked, vacant Bailey homes and apartments can be a drag on the real estate market, holding Bailey 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.
In the last 10 years, Bailey has experienced some of the highest home appreciation rates of any community in the nation. Bailey real estate appreciated 132.38% over the last ten years, which is an average annual home appreciation rate of 8.80%, putting Bailey in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bailey definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Bailey that despite a nationwide downturn in the housing market, Bailey real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bailey appreciation rates continue to be some of the highest in America, at 28.84%, which is higher than appreciation rates in 98.89% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bailey. Bailey appreciation rates in the latest quarter were at 15.25%, which equates to an annual appreciation rate of 76.44%.
Importantly, this makes Bailey one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to North Carolina, our data show that Bailey's latest annual appreciation rate is higher than 90% of the other cities and towns in North Carolina.
$277,782
for North carolina
for nation
199
$1,687 / per month