Garner, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Garner Neighborhoods Since 2000




Garner, 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

Garner Housing Market Information

With a population of 28,053, 10,708 total housing units (homes and apartments), and a median house value of $194,368, Garner real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Garner, accounting for 71.01% of the town's housing units. Other types of housing that are prevalent in Garner include large apartment complexes or high rise apartments ( 19.84%), duplexes, homes converted to apartments or other small apartment buildings ( 4.97%), and a few row houses and other attached homes ( 3.23%).

The most prevalent building size and type in Garner are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.39% owning and 36.61% renting.

There is a lot of housing in Garner 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 Garner built between 2000 and later ( 27.86%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.68%). There's also some housing in Garner built before 1939 ( 1.56%).

Garner Home Appreciation Rates

Appreciation rates for homes in Garner have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.96%, which ranks in the top 30% nationwide. This equates to an annual average Garner house appreciation rate of 0.95%.

Appreciation rates are so strong in Garner that despite a nationwide downturn in the housing market, Garner real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Garner appreciation rates continue to be some of the highest in America, at 6.82%, which is higher than appreciation rates in 80.14% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Garner. Garner appreciation rates in the latest quarter were at 2.42%, which equates to an annual appreciation rate of 10.04%.

Importantly, this makes Garner one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to North Carolina, our data show that Garner's latest annual appreciation rate is higher than 80% 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 town. Individual neighborhoods within Garner differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Garner - 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 Garner real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$194,368

Garner, NC HOME PRICES

Value Range
> $1,151,000 0.2
$863,001 - $1,151,000 0.0
$575,001 - $863,000 0.6
$460,001 - $575,000 2.2
$345,001 - $460,000 7.5
$230,001 - $345,000 17.5
$115,001 - $230,000 60.9
$58,001 - $115,000 6.9
$0 - $58,000 4.2

High for NC
High for Nation

Value Relative to Nation Value Relative to State
33.6517051447322 24.8638838475499

Number Of Homes And Apartments:
10,708

Garner 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
27.53% 1.42% 6 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,246 / per month

Homeownership Rate

Homeownership
Owners 63.39
Renters 36.61
Vacant 8.16

Housing Market Details

 

Age of Homes

AGE OF Garner HOMES
2000 or Newer 27.9
1970 - 1999 50.9
1940 - 1969 19.7
1939 or Older 1.6

Types of Homes

TYPE OF Garner HOMES
Single-Family 71.0
Townhomes 3.2
Small Apt. Buildings 5.0
Apt. Complexes 19.8
Mobile Homes 1.0
Other 0.0

Home Size

SIZE OF Garner HOMES
No Bedroom 0.45
1 Bedroom 7.12
2 Bedrooms 19.08
3 Bedrooms 51.72
4 Bedrooms 17.66
5 or more bedrooms 3.97