Black Mountain, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Black Mountain Neighborhoods Since 2000




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 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

Black Mountain Housing Market Information

With a population of 8,278, 3,623 total housing units (homes and apartments), and a median house value of $232,468, 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 64.95% of the town's housing units. Other types of housing that are prevalent in Black Mountain include duplexes, homes converted to apartments or other small apartment buildings ( 12.83%), mobile homes or trailers ( 11.38%), and a few large apartment complexes or high rise apartments ( 6.68%).

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 ( 31.75%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.72%). There's also some housing in Black Mountain built before 1939 ( 9.65%).

Vacant housing appears to be an issue in Black Mountain. Fully 11.93% 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 10.53%, which ranks in the top 30% nationwide. This equates to an annual average Black Mountain house appreciation rate of 1.01%.

Appreciation rates are so strong in Black Mountain that despite a nationwide downturn in the housing market, Black Mountain real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Black Mountain appreciation rates continue to be some of the highest in America, at 6.55%, which is higher than appreciation rates in 78.24% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Black Mountain. Black Mountain appreciation rates in the latest quarter were at 1.50%, which equates to an annual appreciation rate of 6.15%.

Relative to North Carolina, our data show that Black Mountain's latest annual appreciation rate is higher than 80% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$232,468

Black Mountain, NC HOME PRICES

Value Range
> $1,177,000 0.6
$882,001 - $1,177,000 0.3
$589,001 - $882,000 6.0
$471,001 - $589,000 7.7
$353,001 - $471,000 9.5
$235,001 - $353,000 25.3
$118,001 - $235,000 37.0
$59,001 - $118,000 6.3
$0 - $59,000 7.3

Very High for NC
High for Nation

Value Relative to Nation Value Relative to State
25.4013828665182 17.967332123412

Number Of Homes And Apartments:
3,623

Black Mountain 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
75.15% 3.30% 10 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,049 / per month

Homeownership Rate

Homeownership
Owners 54.43
Renters 45.57
Vacant 11.93

Housing Market Details

 

Age of Homes

AGE OF Black Mountain HOMES
2000 or Newer 16.7
1970 - 1999 41.9
1940 - 1969 31.7
1939 or Older 9.6

Types of Homes

TYPE OF Black Mountain HOMES
Single-Family 64.9
Townhomes 4.2
Small Apt. Buildings 12.8
Apt. Complexes 6.7
Mobile Homes 11.4
Other 0.0

Home Size

SIZE OF Black Mountain HOMES
No Bedroom 4.04
1 Bedroom 6.15
2 Bedrooms 39.55
3 Bedrooms 37.12
4 Bedrooms 10.99
5 or more bedrooms 2.16