Hendersonville NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Hendersonville, 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 Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Hendersonville Housing Market Information

With 14,107 people, 6,852 houses or apartments, and a median cost of homes of $209,304, Hendersonville real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Hendersonville, accounting for 40.51% of the city's housing units. Other types of housing that are prevalent in Hendersonville include large apartment complexes or high rise apartments ( 28.25%), duplexes, homes converted to apartments or other small apartment buildings ( 16.91%), and a few row houses and other attached homes ( 10.81%).

People in Hendersonville primarily live in small (one, two or no bedroom) single-family detached homes. Hendersonville has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Hendersonville 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 Hendersonville built between 1940-1969 ( 24.72%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.04%). There's also some housing in Hendersonville built before 1939 ( 10.19%).

Vacant housing appears to be an issue in Hendersonville. Fully 14.64% of the housing stock is classified as vacant. Left unchecked, vacant Hendersonville homes and apartments can be a drag on the real estate market, holding Hendersonville 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.

Hendersonville Home Appreciation Rates

Real estate appreciation rates in Hendersonville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 1.67% during the period.

NeighborhoodScout's data show that during the latest twelve months, Hendersonville's appreciation rate, at 4.36%, has been at or slightly above the national average. In the latest quarter, Hendersonville's appreciation rate has been 1.97%, which annualizes to a rate of 8.12%.

Relative to North Carolina, our data show that Hendersonville's latest annual appreciation rate is lower than 50% 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 city. Individual neighborhoods within Hendersonville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hendersonville - 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 Hendersonville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$209,304

Hendersonville, NC HOME PRICES

Value Range
> $1,274,000 0.1
$955,001 - $1,274,000 0.2
$637,001 - $955,000 2.4
$510,001 - $637,000 3.4
$382,001 - $510,000 7.2
$255,001 - $382,000 22.4
$127,001 - $255,000 43.9
$64,001 - $127,000 14.4
$0 - $64,000 6.1

High for NC
High for Nation

Value Relative to Nation Value Relative to State
36.8875912408759 28.6231884057971

Number Of Homes And Apartments:
6,852

Hendersonville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
73.12% 2.82%
9
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,139 / per month

Homeownership Rate

Homeownership
Owners 41.75
Renters 58.25
Vacant 14.64

Housing Market Details

 

Age of Homes

AGE OF Hendersonville HOMES
2000 or Newer 19.0
1970 - 1999 46.1
1940 - 1969 24.7
1939 or Older 10.2

Types of Homes

TYPE OF Hendersonville HOMES
Single-Family 40.5
Townhomes 10.8
Small Apt. Buildings 16.9
Apt. Complexes 28.3
Mobile Homes 3.5
Other 0.0

Home Size

SIZE OF Hendersonville HOMES
No Bedroom 7.24
1 Bedroom 17.12
2 Bedrooms 42.39
3 Bedrooms 25.95
4 Bedrooms 5.57
5 or more bedrooms 1.73