Black Mountain NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Black Mountain, 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 Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Black Mountain Housing Market Information

With a population of 8,150, 3,724 total housing units (homes and apartments), and a median house value of $255,589, Black Mountain real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Black Mountain, accounting for 67.71% of the town's housing units. Other types of housing that are prevalent in Black Mountain include mobile homes or trailers ( 9.52%), duplexes, homes converted to apartments or other small apartment buildings ( 9.40%), and a few large apartment complexes or high rise apartments ( 8.94%).

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

There is a lot of housing in Black Mountain 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 Black Mountain built between 1940-1969 ( 26.68%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.48%). There's also some housing in Black Mountain built before 1939 ( 10.08%).

Vacant housing appears to be an issue in Black Mountain. Fully 13.31% of the housing stock is classified as vacant. Left unchecked, vacant Black Mountain homes and apartments can be a drag on the real estate market, holding Black Mountain 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.

Black Mountain Home Appreciation Rates

Appreciation rates for homes in Black Mountain have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 26.16%, which ranks in the top 30% nationwide. This equates to an annual average Black Mountain house appreciation rate of 2.35%.

Over the last year, Black Mountain appreciation rates have trailed the rest of the nation. In the last twelve months, Black Mountain's appreciation rate has been -0.13%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Black Mountain were at 1.64%, which equates to an annual appreciation rate of 6.73%.

Relative to North Carolina, our data show that Black Mountain's latest annual appreciation rate is lower than 90% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$255,589

Black Mountain, NC HOME PRICES

Value Range
> $1,233,000 0.6
$925,001 - $1,233,000 0.7
$617,001 - $925,000 3.9
$493,001 - $617,000 6.8
$370,001 - $493,000 11.4
$247,001 - $370,000 29.8
$123,001 - $247,000 30.0
$61,001 - $123,000 10.0
$0 - $61,000 6.8

Very High for NC
High for Nation

Value Relative to Nation Value Relative to State
25.9416058394161 18.5688405797101

Number Of Homes And Apartments:
3,724

Black Mountain Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
102.57% 3.69%
10
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,236 / per month

Homeownership Rate

Homeownership
Owners 61.71
Renters 38.29
Vacant 13.31

Housing Market Details

 

Age of Homes

AGE OF Black Mountain HOMES
2000 or Newer 20.5
1970 - 1999 42.8
1940 - 1969 26.7
1939 or Older 10.1

Types of Homes

TYPE OF Black Mountain HOMES
Single-Family 67.7
Townhomes 4.4
Small Apt. Buildings 9.4
Apt. Complexes 8.9
Mobile Homes 9.5
Other 0.0

Home Size

SIZE OF Black Mountain HOMES
No Bedroom 9.61
1 Bedroom 5.91
2 Bedrooms 36.20
3 Bedrooms 37.29
4 Bedrooms 7.77
5 or more bedrooms 3.21