Franklinton, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Franklinton, NC Real Estate Data


Franklinton Housing Market Information

With a population of 2,135, 764 total housing units (homes and apartments), and a median house value of $100,133, house prices in Franklinton are solidly below the national average.

Single-family detached homes are the single most common housing type in Franklinton, accounting for 81.66% of the town's housing units. Other types of housing that are prevalent in Franklinton include mobile homes or trailers ( 8.60%), duplexes, homes converted to apartments or other small apartment buildings ( 8.18%), and a few large apartment complexes or high rise apartments ( 1.15%).

The most prevalent building size and type in Franklinton are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 64.40% owning and 35.60% 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. Franklinton's housing was primarily built during this period, from the '40s through the '60s. A full 46.12% of the town's housing hails from this era. Other housing ages represented in Franklinton include homes built between 1970-1999 ( 25.47%) and housing constructed before 1939 ( 19.50%). There's also some housing in Franklinton built between 2000 and later ( 8.91%).

Vacant housing appears to be an issue in Franklinton. Fully 19.92% of the housing stock is classified as vacant. Left unchecked, vacant Franklinton homes and apartments can be a drag on the real estate market, holding Franklinton 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.

Franklinton Home Appreciation Rates

Real estate appreciation rates in Franklinton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.36% during the period.

Appreciation rates are so strong in Franklinton that despite a nationwide downturn in the housing market, Franklinton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Franklinton appreciation rates continue to be some of the highest in America, at 6.47%, which is higher than appreciation rates in 79.84% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Franklinton. Franklinton appreciation rates in the latest quarter were at 2.17%, which equates to an annual appreciation rate of 8.95%.

Relative to North Carolina, our data show that Franklinton's latest annual appreciation rate is higher than 80% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$100,133

Franklinton, NC HOME PRICES

Value Range
> $1,143,000 0.0
$857,001 - $1,143,000 0.2
$571,001 - $857,000 0.0
$457,001 - $571,000 0.0
$343,001 - $457,000 1.3
$229,001 - $343,000 5.6
$114,001 - $229,000 31.3
$57,001 - $114,000 35.6
$0 - $57,000 26.0

Low for NC
Low for Nation

Value Relative to Nation Value Relative to State
78.7638343971424 80.0362976406534

Number Of Homes And Apartments:
764

Rent & Ownership

 

Average Market Rent:
$482 / per month

Homeownership Rate

Homeownership
Owners 64.40
Renters 35.60
Vacant 19.92

Housing Market Details

 

Age of Homes

AGE OF Franklinton HOMES
2000 or Newer 8.9
1970 - 1999 25.5
1940 - 1969 46.1
1939 or Older 19.5

Types of Homes

TYPE OF Franklinton HOMES
Single-Family 81.7
Townhomes 0.4
Small Apt. Buildings 8.2
Apt. Complexes 1.2
Mobile Homes 8.6
Other 0.0

Home Size

SIZE OF Franklinton HOMES
No Bedroom 0.31
1 Bedroom 3.25
2 Bedrooms 28.51
3 Bedrooms 54.40
4 Bedrooms 9.22
5 or more bedrooms 4.30

Franklinton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
11.19% 0.63% 2 1
* 10 is highest

Popular Neighborhoods in Franklinton

Zip Codes in Franklinton, NC