Cherokee, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Cherokee Neighborhoods Since 2000




Cherokee, NC Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Cherokee Housing Market Information

With a population of 2,181, 861 total housing units (homes and apartments), and a median house value of $152,473, Cherokee real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Cherokee, accounting for 64.52% of the town's housing units. Other types of housing that are prevalent in Cherokee include mobile homes or trailers ( 24.87%), large apartment complexes or high rise apartments ( 5.68%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.51%).

Dwellings in Cherokee tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 51.50% of the homes in Cherokee have two or fewer bedrooms.

There is a lot of housing in Cherokee 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 Cherokee built between 2000 and later ( 22.87%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.86%). There's also some housing in Cherokee built before 1939 ( 5.18%).

Vacant housing appears to be an issue in Cherokee. Fully 28.13% of the housing stock is classified as vacant. Left unchecked, vacant Cherokee homes and apartments can be a drag on the real estate market, holding Cherokee 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.

Cherokee Home Appreciation Rates

Appreciation rates for homes in Cherokee have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.44%, which ranks in the top 40% nationwide. This equates to an annual average Cherokee house appreciation rate of 0.81%.

NeighborhoodScout's data show that during the latest twelve months, Cherokee's appreciation rate, at 3.18%, has been at or slightly above the national average. In the latest quarter, Cherokee's appreciation rate has been -0.54%, which annualizes to a rate of -2.13%.

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

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

Average Home Values

 

Median Home Value:
$152,473

Cherokee, NC HOME PRICES

Value Range
> $1,072,000 1.0
$804,001 - $1,072,000 0.0
$536,001 - $804,000 3.7
$429,001 - $536,000 1.4
$322,001 - $429,000 4.8
$214,001 - $322,000 12.9
$107,001 - $214,000 35.7
$53,001 - $107,000 23.7
$0 - $53,000 16.8

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
48.9628501113325 41.016333938294

Number Of Homes And Apartments:
861

Cherokee Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
44.18% 2.14% 8 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$863 / per month

Homeownership Rate

Homeownership
Owners 72.70
Renters 27.30
Vacant 28.13

Housing Market Details

 

Age of Homes

AGE OF Cherokee HOMES
2000 or Newer 22.9
1970 - 1999 58.1
1940 - 1969 13.9
1939 or Older 5.2

Types of Homes

TYPE OF Cherokee HOMES
Single-Family 64.5
Townhomes 0.4
Small Apt. Buildings 4.5
Apt. Complexes 5.7
Mobile Homes 24.9
Other 0.0

Home Size

SIZE OF Cherokee HOMES
No Bedroom 1.92
1 Bedroom 12.52
2 Bedrooms 37.06
3 Bedrooms 36.98
4 Bedrooms 7.85
5 or more bedrooms 3.67

Popular Neighborhoods in Cherokee

Popular Communities Near Cherokee, NC

Zip Codes in Cherokee, NC