Black Mountain, NC Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Black Mountain, NC Housing Market Trends

With a population of 8,162, 3,913 total housing units (homes and apartments), and a median house value of $285,422, 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 69.19% of the town's housing units. Other types of housing that are prevalent in Black Mountain include large apartment complexes or high rise apartments ( 10.40%), duplexes, homes converted to apartments or other small apartment buildings ( 7.49%), and a few mobile homes or trailers ( 7.27%).

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 ( 23.27%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.14%). There's also some housing in Black Mountain built before 1939 ( 12.28%).

Vacant housing appears to be an issue in Black Mountain. Fully 12.46% 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

In the last 10 years, Black Mountain has experienced some of the highest home appreciation rates of any community in the nation. Black Mountain real estate appreciated 53.06% over the last ten years, which is an average annual home appreciation rate of 4.35%, putting Black Mountain in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Black Mountain definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Black Mountain's appreciation rate, at 6.00%, has been at or slightly above the national average. In the latest quarter, Black Mountain's appreciation rate has been 1.85%, which annualizes to a rate of 7.61%.

Relative to North Carolina, our data show that Black Mountain's latest annual appreciation rate is lower than 70% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$285,422

Black Mountain, NC HOME PRICES

> $1,238,000
0.1%
0.1%
$928,001 - $1,238,000
1.5%
1.5%
$619,001 - $928,000
6.3%
6.3%
$495,001 - $619,000
5.8%
5.8%
$371,001 - $495,000
21.1%
21.1%
$248,001 - $371,000
27.4%
27.4%
$124,001 - $248,000
26.2%
26.2%
$62,001 - $124,000
7.6%
7.6%
$0 - $62,000
4.2%
4.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for NC

Value Relative To Nation

Number Of Homes And Apartments:
3,913

Black Mountain Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
131.03% 4.07%
10
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,434 / per month

Homeownership Rate

Owners
62.2%
62.2%
Renters
37.8%
37.8%
Vacant
12.5%
12.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
18.1%
18.1%
1970 - 1999
46.3%
46.3%
1940 - 1969
23.3%
23.3%
1939 or Older
12.3%
12.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
69.2%
69.2%
Townhomes
5.3%
5.3%
Small Apt. Buildings
7.5%
7.5%
Apt. Complexes
10.4%
10.4%
Mobile Homes
7.3%
7.3%
Other
0.3%
0.3%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
10.2%
10.2%
1 Bedroom
7.4%
7.4%
2 Bedrooms
32.0%
32.0%
3 Bedrooms
39.8%
39.8%
4 Bedrooms
8.5%
8.5%
5 or more bedrooms
2.1%
2.1%
0.0% 100.0%
% OF HOMES