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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 7,735 people, 3,231 houses or apartments, and a median cost of homes of $245,408, Brevard real estate is some of the most expensive in North Carolina, although Brevard home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Brevard, accounting for 71.97% of the city's housing units. Other types of housing that are prevalent in Brevard include duplexes, homes converted to apartments or other small apartment buildings ( 13.95%), large apartment complexes or high rise apartments ( 9.34%), and a few row houses and other attached homes ( 3.05%).
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 51.24% owning and 48.76% 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 40.65% of the city's housing hails from this era. Other housing ages represented in Brevard include homes built between 1970-1999 ( 39.54%) and housing constructed between 2000 and later ( 10.04%). There's also some housing in Brevard built before 1939 ( 9.77%).
Vacant housing appears to be an issue in Brevard. Fully 18.47% 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.
Appreciation rates for homes in Brevard have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.65%, which ranks in the top 40% nationwide. This equates to an annual average Brevard house appreciation rate of 0.83%.
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 10.32%, which is higher than appreciation rates in 94.66% 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 -0.54%, which equates to an annual appreciation rate of -2.13%.
Notably, Brevard's appreciation rate in the latest quarter is one of the lowest in America.
Relative to North Carolina, our data show that Brevard's latest annual appreciation rate is higher than 90% of the other cities and towns in North Carolina.
|$906,001 - $1,208,000||1.0|
|$604,001 - $906,000||1.3|
|$483,001 - $604,000||4.8|
|$362,001 - $483,000||10.4|
|$242,001 - $362,000||26.5|
|$121,001 - $242,000||40.9|
|$61,001 - $121,000||10.8|
|$0 - $61,000||4.0|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Brevard HOMES|
|2000 or Newer||10.0|
|1970 - 1999||39.5|
|1940 - 1969||40.7|
|1939 or Older||9.8|
|TYPE OF Brevard HOMES|
|Small Apt. Buildings||14.0|
|SIZE OF Brevard HOMES|
|5 or more bedrooms||1.59|