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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Brevard, 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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Brevard, NC Housing Market Trends

With 7,818 people, 3,618 houses or apartments, and a median cost of homes of $376,584, Brevard real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Brevard, accounting for 63.01% of the city's housing units. Other types of housing that are prevalent in Brevard include large apartment complexes or high rise apartments ( 17.80%), duplexes, homes converted to apartments or other small apartment buildings ( 12.61%), and a few row houses and other attached homes ( 2.75%).

The most prevalent building size and type in Brevard are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.81% owning and 50.19% 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. Brevard's housing was primarily built during this period, from the '40s through the '60s. A full 42.30% of the city's housing hails from this era. Other housing ages represented in Brevard include homes built between 1970-1999 ( 34.78%) and housing constructed between 2000 and later ( 16.28%). There's also some housing in Brevard built before 1939 ( 6.65%).

Vacant housing appears to be an issue in Brevard. Fully 15.03% of the housing stock is classified as vacant. Left unchecked, vacant Brevard homes and apartments can be a drag on the real estate market, holding Brevard 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.

Brevard Home Appreciation Rates

In the last 10 years, Brevard has experienced some of the highest home appreciation rates of any community in the nation. Brevard real estate appreciated 114.52% over the last ten years, which is an average annual home appreciation rate of 7.93%, putting Brevard in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Brevard definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Brevard that despite a nationwide downturn in the housing market, Brevard real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Brevard appreciation rates continue to be some of the highest in America, at 7.33%, which is higher than appreciation rates in 77.52% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Brevard. Brevard appreciation rates in the latest quarter were at 1.41%, which equates to an annual appreciation rate of 5.77%.

Relative to North Carolina, our data show that Brevard's latest annual appreciation rate is higher than 50% of the other cities and towns in North Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Brevard differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Brevard - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Brevard real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$376,584

Brevard, NC Home Prices
> $1,347,000
$1,009,001 - $1,347,000
$673,001 - $1,009,000
$539,001 - $673,000
$404,001 - $539,000
$269,001 - $404,000
$135,001 - $269,000
$67,001 - $135,000
$0 - $67,000
2.0%
2.0%
3.1%
3.1%
14.0%
14.0%
20.4%
20.4%
12.3%
12.3%
25.1%
25.1%
15.7%
15.7%
3.8%
3.8%
3.4%
3.4%
0% 100.0%
% of Homes
High

for North carolina

High

for nation

Number of Homes And Apartments:

3,618

Brevard Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,474 / per month

Homeownership Rate

Owners
Renters
49.8%
49.8%
50.2%
50.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
15.0%
15.0%
85.0%
85.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
16.3%
16.3%
34.8%
34.8%
42.3%
42.3%
6.6%
6.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
63.0%
63.0%
2.7%
2.7%
12.6%
12.6%
17.8%
17.8%
1.8%
1.8%
2.0%
2.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
5.8%
5.8%
8.2%
8.2%
33.7%
33.7%
41.5%
41.5%
9.8%
9.8%
1.0%
1.0%
0% 100.0%
% of Homes