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 about Scout's Real Estate Data
With 107,697 people, 35,546 houses or apartments, and a median cost of homes of $376,566, Concord real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Concord, accounting for 74.06% of the city's housing units. Other types of housing that are prevalent in Concord include large apartment complexes or high rise apartments ( 15.57%), duplexes, homes converted to apartments or other small apartment buildings ( 4.53%), and a few row houses and other attached homes ( 3.62%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Concord. Owner-occupied housing accounts for 69.79% of Concord's homes, and 61.75% have either three or four bedrooms, which is average sized relative to America.
Concord homes and real estate are some of the newest in America. 42.75% of Concord's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Concord real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 34.68%), and between 1940-1969 ( 16.06%). There's also some housing in Concord built before 1939 ( 6.51%).
Vacant housing appears to be an issue in Concord. Fully 13.48% of the housing stock is classified as vacant. Left unchecked, vacant Concord homes and apartments can be a drag on the real estate market, holding Concord 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.
In the last 10 years, Concord has experienced some of the highest home appreciation rates of any community in the nation. Concord real estate appreciated 129.71% over the last ten years, which is an average annual home appreciation rate of 8.67%, putting Concord in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Concord definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Concord's appreciation rate, at 5.91%, has been at or slightly above the national average. In the latest quarter, Concord's appreciation rate has been 2.51%, which annualizes to a rate of 10.41%.
Relative to North Carolina, our data show that Concord's latest annual appreciation rate is lower 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 Concord differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Concord - 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 Concord real estate investment or home purchase decisions.
$2,566 / per month