Boiling Springs, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Boiling Springs, NC Real Estate Data


Boiling Springs Housing Market Information

With a population of 4,674, 1,248 total housing units (homes and apartments), and a median house value of $139,684, house prices in Boiling Springs are solidly below the national average.

Single-family detached homes are the single most common housing type in Boiling Springs, accounting for 75.81% of the town's housing units. Other types of housing that are prevalent in Boiling Springs include duplexes, homes converted to apartments or other small apartment buildings ( 12.76%), large apartment complexes or high rise apartments ( 5.74%), and a few mobile homes or trailers ( 4.72%).

The most prevalent building size and type in Boiling Springs are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 53.51% owning and 46.49% renting.

There is a lot of housing in Boiling Springs 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 Boiling Springs built between 1940-1969 ( 22.08%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.21%).

Vacant housing appears to be an issue in Boiling Springs. Fully 20.36% of the housing stock is classified as vacant. Left unchecked, vacant Boiling Springs homes and apartments can be a drag on the real estate market, holding Boiling Springs 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.

Boiling Springs Home Appreciation Rates

Real estate appreciation rates in Boiling Springs's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.10% during the period.

Appreciation rates are so strong in Boiling Springs that despite a nationwide downturn in the housing market, Boiling Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Boiling Springs appreciation rates continue to be some of the highest in America, at 6.00%, which is higher than appreciation rates in 74.17% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Boiling Springs. Boiling Springs appreciation rates in the latest quarter were at 0.99%, which equates to an annual appreciation rate of 4.04%.

Notably, Boiling Springs's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$139,684

Boiling Springs, NC HOME PRICES

Value Range
> $1,075,000 0.0
$806,001 - $1,075,000 0.0
$538,001 - $806,000 0.0
$430,001 - $538,000 3.5
$323,001 - $430,000 2.2
$215,001 - $323,000 9.8
$108,001 - $215,000 48.8
$54,001 - $108,000 30.4
$0 - $54,000 5.2

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
55.8880365403759 50.2722323049002

Number Of Homes And Apartments:
1,248

Rent & Ownership

 

Average Market Rent:
$927 / per month

Homeownership Rate

Homeownership
Owners 53.51
Renters 46.49
Vacant 20.36

Housing Market Details

 

Age of Homes

AGE OF Boiling Springs HOMES
2000 or Newer 16.2
1970 - 1999 60.8
1940 - 1969 22.1
1939 or Older 0.9

Types of Homes

TYPE OF Boiling Springs HOMES
Single-Family 75.8
Townhomes 1.0
Small Apt. Buildings 12.8
Apt. Complexes 5.7
Mobile Homes 4.7
Other 0.0

Home Size

SIZE OF Boiling Springs HOMES
No Bedroom 0.00
1 Bedroom 8.93
2 Bedrooms 28.91
3 Bedrooms 49.84
4 Bedrooms 11.55
5 or more bedrooms 0.77

Boiling Springs Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
24.80% 1.31% 5 2
* 10 is highest