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 about Scout's Real Estate Data
With a population of 560, 204 total housing units (homes and apartments), and a median house value of $181,386, house prices in Harmony are solidly below the national average.
Single-family detached homes are the single most common housing type in Harmony, accounting for 89.53% of the town's housing units. Other types of housing that are prevalent in Harmony include mobile homes or trailers ( 10.47%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Harmony. Owner-occupied housing accounts for 78.92% of Harmony's homes, and 76.36% have either three or four bedrooms, which is average sized relative to America.
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. Harmony's housing was primarily built during this period, from the '40s through the '60s. A full 41.09% of the town's housing hails from this era. Other housing ages represented in Harmony include homes built before 1939 ( 27.13%) and housing constructed between 1970-1999 ( 25.58%). There's also some housing in Harmony built between 2000 and later ( 6.20%).
Vacant housing appears to be an issue in Harmony. Fully 20.93% of the housing stock is classified as vacant. Left unchecked, vacant Harmony homes and apartments can be a drag on the real estate market, holding Harmony 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.
Appreciation rates for homes in Harmony have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 76.72%, which ranks in the top 50% nationwide. This equates to an annual average Harmony house appreciation rate of 5.86%.
Appreciation rates are so strong in Harmony that despite a nationwide downturn in the housing market, Harmony real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Harmony appreciation rates continue to be some of the highest in America, at 18.50%, which is higher than appreciation rates in 93.32% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Harmony. Harmony appreciation rates in the latest quarter were at 1.82%, which equates to an annual appreciation rate of 7.47%.
Relative to North Carolina, our data show that Harmony's latest annual appreciation rate is lower than 60% of the other cities and towns in North Carolina.
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$1,406 / per month