Grifton, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Grifton Neighborhoods Since 2000




Grifton, 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

Grifton Housing Market Information

With 2,673 people, 1,025 houses or apartments, and a median cost of homes of $95,773, house prices in Grifton are some of the most affordable in North Carolina as well as the nation.

Single-family detached homes are the single most common housing type in Grifton, accounting for 59.97% of the town's housing units. Other types of housing that are prevalent in Grifton include mobile homes or trailers ( 19.93%), duplexes, homes converted to apartments or other small apartment buildings ( 13.72%), and a few large apartment complexes or high rise apartments ( 6.38%).

The most prevalent building size and type in Grifton are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 56.63% owning and 43.37% 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. Grifton's housing was primarily built during this period, from the '40s through the '60s. A full 38.81% of the town's housing hails from this era. Other housing ages represented in Grifton include homes built between 1970-1999 ( 38.55%) and housing constructed between 2000 and later ( 19.67%). There's also some housing in Grifton built before 1939 ( 2.97%).

Vacant housing appears to be an issue in Grifton. Fully 10.40% of the housing stock is classified as vacant. Left unchecked, vacant Grifton homes and apartments can be a drag on the real estate market, holding Grifton 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.

Grifton Home Appreciation Rates

Real estate appreciation rates in Grifton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.70% during the period.

Appreciation rates are so strong in Grifton that despite a nationwide downturn in the housing market, Grifton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Grifton appreciation rates continue to be some of the highest in America, at 6.69%, which is higher than appreciation rates in 79.18% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Grifton. Grifton appreciation rates in the latest quarter were at 2.51%, which equates to an annual appreciation rate of 10.42%.

Importantly, this makes Grifton 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 Grifton's latest annual appreciation rate is higher than 80% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$95,773

Grifton, NC HOME PRICES

Value Range
> $1,028,000 0.9
$771,001 - $1,028,000 0.6
$514,001 - $771,000 0.2
$411,001 - $514,000 0.1
$308,001 - $411,000 0.3
$206,001 - $308,000 6.3
$103,001 - $206,000 35.8
$51,001 - $103,000 39.2
$0 - $51,000 16.7

Very Low for NC
Very Low for Nation

Value Relative to Nation Value Relative to State
80.3586077581156 82.940108892922

Number Of Homes And Apartments:
1,025

Grifton 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
20.69% 1.10% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$960 / per month

Homeownership Rate

Homeownership
Owners 56.63
Renters 43.37
Vacant 10.40

Housing Market Details

 

Age of Homes

AGE OF Grifton HOMES
2000 or Newer 19.7
1970 - 1999 38.5
1940 - 1969 38.8
1939 or Older 3.0

Types of Homes

TYPE OF Grifton HOMES
Single-Family 60.0
Townhomes 0.0
Small Apt. Buildings 13.7
Apt. Complexes 6.4
Mobile Homes 19.9
Other 0.0

Home Size

SIZE OF Grifton HOMES
No Bedroom 0.52
1 Bedroom 6.29
2 Bedrooms 21.15
3 Bedrooms 59.97
4 Bedrooms 10.31
5 or more bedrooms 1.75

Popular Neighborhoods in Grifton

Zip Codes in Grifton, NC