Garner, NC Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Garner, NC Housing Market Trends

With 31,407 people, 11,642 houses or apartments, and a median cost of homes of $246,814, 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 70.38% of the town's housing units. Other types of housing that are prevalent in Garner include large apartment complexes or high rise apartments ( 22.78%), row houses and other attached homes ( 3.65%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.05%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Garner. Owner-occupied housing accounts for 65.99% of Garner's homes, and 67.93% have either three or four bedrooms, which is average sized relative to America.

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 ( 35.54%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.45%). There's also some housing in Garner built before 1939 ( 1.40%).

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 62.29%, which ranks in the top 30% nationwide. This equates to an annual average Garner house appreciation rate of 4.96%.

NeighborhoodScout's data show that during the latest twelve months, Garner's appreciation rate, at 8.42%, has been at or slightly above the national average. In the latest quarter, Garner's appreciation rate has been 2.08%, which annualizes to a rate of 8.57%.

Relative to North Carolina, our data show that Garner's latest annual appreciation rate is lower 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:
$246,814

Garner, NC HOME PRICES

> $1,255,000
0.6%
0.6%
$942,001 - $1,255,000
0.2%
0.2%
$628,001 - $942,000
1.4%
1.4%
$502,001 - $628,000
3.3%
3.3%
$377,001 - $502,000
13.5%
13.5%
$251,001 - $377,000
23.0%
23.0%
$126,001 - $251,000
51.6%
51.6%
$63,001 - $126,000
3.8%
3.8%
$0 - $63,000
2.5%
2.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for NC

Value Relative To Nation

Number Of Homes And Apartments:
11,642

Garner Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
74.03% 2.61%
7
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,522 / per month

Homeownership Rate

Owners
66.0%
66.0%
Renters
34.0%
34.0%
Vacant
5.9%
5.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
35.5%
35.5%
1970 - 1999
44.6%
44.6%
1940 - 1969
18.4%
18.4%
1939 or Older
1.4%
1.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
70.4%
70.4%
Townhomes
3.6%
3.6%
Small Apt. Buildings
3.0%
3.0%
Apt. Complexes
22.8%
22.8%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
8.7%
8.7%
2 Bedrooms
20.7%
20.7%
3 Bedrooms
50.1%
50.1%
4 Bedrooms
17.9%
17.9%
5 or more bedrooms
2.6%
2.6%
0.0% 100.0%
% OF HOMES