Chocowinity, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Chocowinity Neighborhoods Since 2000




Chocowinity, 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

Chocowinity Housing Market Information

With a population of 821, 383 total housing units (homes and apartments), and a median house value of $82,279, house prices in Chocowinity are some of the most affordable in North Carolina as well as the nation.

Single-family detached homes are the single most common housing type in Chocowinity, accounting for 66.14% of the town's housing units. Other types of housing that are prevalent in Chocowinity include mobile homes or trailers ( 14.90%), large apartment complexes or high rise apartments ( 9.03%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.03%).

The most prevalent building size and type in Chocowinity are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 58.17% owning and 41.83% renting.

There is a lot of housing in Chocowinity 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 Chocowinity built between 1940-1969 ( 35.44%). A lesser amount of the housing stock also hails from before 1939 ( 7.90%). There's also some housing in Chocowinity built between 2000 and later ( 7.45%).

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

Chocowinity Home Appreciation Rates

Real estate appreciation rates in Chocowinity's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.13% during the period.

Over the last year, Chocowinity appreciation rates have trailed the rest of the nation. In the last twelve months, Chocowinity's appreciation rate has been 0.70%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Chocowinity were at -0.54%, which equates to an annual appreciation rate of -2.13%.

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

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

Average Home Values

 

Median Home Value:
$82,279

Chocowinity, NC HOME PRICES

Value Range
> $965,000 0.3
$724,001 - $965,000 0.0
$482,001 - $724,000 1.4
$386,001 - $482,000 2.1
$290,001 - $386,000 1.8
$193,001 - $290,000 4.3
$97,001 - $193,000 26.8
$48,001 - $97,000 41.4
$0 - $48,000 21.9

Very Low for NC
Very Low for Nation

Value Relative to Nation Value Relative to State
89.0073831009024 92.0145190562613

Number Of Homes And Apartments:
383

Chocowinity 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
29.78% 1.52% 6 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$860 / per month

Homeownership Rate

Homeownership
Owners 58.17
Renters 41.83
Vacant 13.54

Housing Market Details

 

Age of Homes

AGE OF Chocowinity HOMES
2000 or Newer 7.4
1970 - 1999 49.2
1940 - 1969 35.4
1939 or Older 7.9

Types of Homes

TYPE OF Chocowinity HOMES
Single-Family 66.1
Townhomes 0.9
Small Apt. Buildings 9.0
Apt. Complexes 9.0
Mobile Homes 14.9
Other 0.0

Home Size

SIZE OF Chocowinity HOMES
No Bedroom 4.51
1 Bedroom 10.61
2 Bedrooms 25.06
3 Bedrooms 45.60
4 Bedrooms 10.16
5 or more bedrooms 4.06

Popular Neighborhoods in Chocowinity

Zip Codes in Chocowinity, NC