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
With 7,282 people, 3,025 houses or apartments, and a median cost of homes of $104,788, house prices in Forest City are solidly below the national average.
Single-family detached homes are the single most common housing type in Forest City, accounting for 68.87% of the town's housing units. Other types of housing that are prevalent in Forest City include duplexes, homes converted to apartments or other small apartment buildings ( 13.38%), large apartment complexes or high rise apartments ( 9.98%), and a few mobile homes or trailers ( 6.13%).
The most prevalent building size and type in Forest City are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 38.36% owning and 61.64% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Forest City's housing was primarily built during this period, from the '40s through the '60s. A full 45.89% of the town's housing hails from this era. Other housing ages represented in Forest City include homes built between 1970-1999 ( 37.21%) and housing constructed before 1939 ( 12.69%). There's also some housing in Forest City built between 2000 and later ( 4.22%).
Vacant housing appears to be an issue in Forest City. Fully 19.72% of the housing stock is classified as vacant. Left unchecked, vacant Forest City homes and apartments can be a drag on the real estate market, holding Forest City 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.
Real estate appreciation rates in Forest City's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.48% during the period.
Over the last year, Forest City appreciation rates have trailed the rest of the nation. In the last twelve months, Forest City's appreciation rate has been 1.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Forest City were at -0.54%, which equates to an annual appreciation rate of -2.13%.
Notably, Forest City's appreciation rate in the latest quarter is one of the lowest in America.
Relative to North Carolina, our data show that Forest City's latest annual appreciation rate is lower than 60% of the other cities and towns in North Carolina.
|$795,001 - $1,059,000||0.0|
|$530,001 - $795,000||1.1|
|$424,001 - $530,000||0.0|
|$318,001 - $424,000||1.8|
|$212,001 - $318,000||8.3|
|$106,001 - $212,000||34.1|
|$53,001 - $106,000||33.8|
|$0 - $53,000||20.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Forest City HOMES|
|2000 or Newer||4.2|
|1970 - 1999||37.2|
|1940 - 1969||45.9|
|1939 or Older||12.7|
|TYPE OF Forest City HOMES|
|Small Apt. Buildings||13.4|
|SIZE OF Forest City HOMES|
|5 or more bedrooms||1.49|