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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.



Carthage, 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

Carthage, NC Housing Market Trends

With a population of 2,908, 1,124 total housing units (homes and apartments), and a median house value of $207,285, house prices in Carthage are solidly below the national average.

Single-family detached homes are the single most common housing type in Carthage, accounting for 69.38% of the town's housing units. Other types of housing that are prevalent in Carthage include mobile homes or trailers ( 15.46%), duplexes, homes converted to apartments or other small apartment buildings ( 5.85%), and a few large apartment complexes or high rise apartments ( 5.00%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Carthage. Owner-occupied housing accounts for 74.21% of Carthage's homes, and 64.23% have either three or four bedrooms, which is average sized relative to America.

Carthage homes and real estate are some of the newest in America. 36.69% of Carthage's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Carthage real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 36.46%), and between 1940-1969 ( 16.54%). There's also some housing in Carthage built before 1939 ( 10.31%).

Vacant housing appears to be an issue in Carthage. Fully 13.54% of the housing stock is classified as vacant. Left unchecked, vacant Carthage homes and apartments can be a drag on the real estate market, holding Carthage 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.

Carthage Home Appreciation Rates

Real estate appreciation rates in Carthage's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.52% during the period.

Appreciation rates are so strong in Carthage that despite a nationwide downturn in the housing market, Carthage real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Carthage appreciation rates continue to be some of the highest in America, at 7.33%, which is higher than appreciation rates in 77.03% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Carthage. Carthage 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 Carthage's latest annual appreciation rate is lower than 50% of the other cities and towns in North Carolina.

Average Home Values

Median Home Value

$207,285

Carthage, NC Home Prices
> $1,274,000
$955,001 - $1,274,000
$637,001 - $955,000
$510,001 - $637,000
$382,001 - $510,000
$255,001 - $382,000
$127,001 - $255,000
$64,001 - $127,000
$0 - $64,000
1.0%
1.0%
0.7%
0.7%
0.9%
0.9%
4.0%
4.0%
10.6%
10.6%
18.7%
18.7%
41.3%
41.3%
10.7%
10.7%
12.1%
12.1%
0% 100.0%
% of Homes
Low

for North carolina

Low

for nation

Number of Homes And Apartments:

1,124

Carthage Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,252 / per month

Homeownership Rate

Owners
Renters
74.2%
74.2%
25.8%
25.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
13.5%
13.5%
86.5%
86.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
36.7%
36.7%
36.5%
36.5%
16.5%
16.5%
10.3%
10.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
69.4%
69.4%
4.3%
4.3%
5.8%
5.8%
5.0%
5.0%
15.5%
15.5%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
6.1%
6.1%
4.6%
4.6%
22.8%
22.8%
49.4%
49.4%
14.8%
14.8%
2.2%
2.2%
0% 100.0%
% of Homes