Cullowhee, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Cullowhee Neighborhoods Since 2000




Cullowhee, 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

Cullowhee Housing Market Information

With a population of 6,343, 1,127 total housing units (homes and apartments), and a median house value of $190,750, Cullowhee real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Cullowhee, accounting for 40.78% of the town's housing units. Other types of housing that are prevalent in Cullowhee include single-family detached homes ( 32.14%), mobile homes or trailers ( 19.78%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.47%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Cullowhee is dominated by renter-occupied one, two, or no bedrooms apartments. 92.68% of Cullowhee's dwellings are rentals.

There is a lot of housing in Cullowhee 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 Cullowhee built between 2000 and later ( 34.44%). A lesser amount of the housing stock also hails from before 1939 ( 6.34%). There's also some housing in Cullowhee built between 1940-1969 ( 5.57%).

Vacant housing appears to be an issue in Cullowhee. Fully 27.85% of the housing stock is classified as vacant. Left unchecked, vacant Cullowhee homes and apartments can be a drag on the real estate market, holding Cullowhee 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.

Cullowhee Home Appreciation Rates

Cullowhee's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cullowhee during the period has been just -1.56%, which is lower than 80% of US communities.

Over the last year, Cullowhee appreciation rates have trailed the rest of the nation. In the last twelve months, Cullowhee's appreciation rate has been -3.45%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cullowhee were at -0.54%, which equates to an annual appreciation rate of -2.13%.

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

Relative to North Carolina, our data show that Cullowhee's latest annual appreciation rate is lower than 90% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$190,750

Cullowhee, NC HOME PRICES

Value Range
> $958,000 0.0
$718,001 - $958,000 3.5
$479,001 - $718,000 0.2
$383,001 - $479,000 2.3
$287,001 - $383,000 14.4
$192,001 - $287,000 35.5
$96,001 - $192,000 20.1
$48,001 - $96,000 13.4
$0 - $48,000 10.5

High for NC
High for Nation

Value Relative to Nation Value Relative to State
34.7240126567444 25.9528130671506

Number Of Homes And Apartments:
1,127

Cullowhee 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
20.49% 1.09% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$753 / per month

Homeownership Rate

Homeownership
Owners 7.32
Renters 92.68
Vacant 27.85

Housing Market Details

 

Age of Homes

AGE OF Cullowhee HOMES
2000 or Newer 34.4
1970 - 1999 53.6
1940 - 1969 5.6
1939 or Older 6.3

Types of Homes

TYPE OF Cullowhee HOMES
Single-Family 32.1
Townhomes 0.8
Small Apt. Buildings 6.5
Apt. Complexes 40.8
Mobile Homes 19.8
Other 0.0

Home Size

SIZE OF Cullowhee HOMES
No Bedroom 19.14
1 Bedroom 17.93
2 Bedrooms 32.39
3 Bedrooms 23.18
4 Bedrooms 7.36
5 or more bedrooms 0.00