Benson, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Benson Neighborhoods Since 2000




Benson, NC 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

Benson Housing Market Information

With 3,591 people, 1,267 houses or apartments, and a median cost of homes of $171,942, Benson 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 Benson, accounting for 65.96% of the town's housing units. Other types of housing that are prevalent in Benson include duplexes, homes converted to apartments or other small apartment buildings ( 23.00%), large apartment complexes or high rise apartments ( 9.16%), and a few mobile homes or trailers ( 1.87%).

The most prevalent building size and type in Benson are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 44.53% owning and 55.47% 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. Benson's housing was primarily built during this period, from the '40s through the '60s. A full 44.64% of the town's housing hails from this era. Other housing ages represented in Benson include homes built between 1970-1999 ( 29.61%) and housing constructed before 1939 ( 13.34%). There's also some housing in Benson built between 2000 and later ( 12.41%).

Vacant housing appears to be an issue in Benson. Fully 21.01% of the housing stock is classified as vacant. Left unchecked, vacant Benson homes and apartments can be a drag on the real estate market, holding Benson 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.

Benson Home Appreciation Rates

Appreciation rates for homes in Benson have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.55%, which ranks in the top 30% nationwide. This equates to an annual average Benson house appreciation rate of 1.10%.

NeighborhoodScout's data show that during the latest twelve months, Benson's appreciation rate, at 3.76%, has been at or slightly above the national average. In the latest quarter, Benson's appreciation rate has been 2.42%, which annualizes to a rate of 10.04%.

Importantly, this makes Benson 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 Benson's latest annual appreciation rate is higher than 60% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$171,942

Benson, NC HOME PRICES

Value Range
> $1,148,000 1.1
$861,001 - $1,148,000 0.0
$574,001 - $861,000 1.8
$459,001 - $574,000 0.0
$344,001 - $459,000 5.2
$230,001 - $344,000 12.1
$115,001 - $230,000 40.3
$58,001 - $115,000 24.6
$0 - $58,000 14.9

High for NC
Average for Nation

Value Relative to Nation Value Relative to State
40.9176139692957 33.5753176043557

Number Of Homes And Apartments:
1,267

Benson Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
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
34.17% 1.72% 7 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$903 / per month

Homeownership Rate

Homeownership
Owners 44.53
Renters 55.47
Vacant 21.01

Housing Market Details

 

Age of Homes

AGE OF Benson HOMES
2000 or Newer 12.4
1970 - 1999 29.6
1940 - 1969 44.6
1939 or Older 13.3

Types of Homes

TYPE OF Benson HOMES
Single-Family 66.0
Townhomes 0.0
Small Apt. Buildings 23.0
Apt. Complexes 9.2
Mobile Homes 1.9
Other 0.0

Home Size

SIZE OF Benson HOMES
No Bedroom 0.00
1 Bedroom 10.22
2 Bedrooms 27.87
3 Bedrooms 51.87
4 Bedrooms 4.30
5 or more bedrooms 5.74