Hope Mills, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hope Mills, 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

Hope Mills Housing Market Information

With a population of 16,163, 5,551 total housing units (homes and apartments), and a median house value of $125,831, house prices in Hope Mills are solidly below the national average.

Single-family detached homes are the single most common housing type in Hope Mills, accounting for 71.47% of the town's housing units. Other types of housing that are prevalent in Hope Mills include duplexes, homes converted to apartments or other small apartment buildings ( 12.47%), large apartment complexes or high rise apartments ( 11.90%), and a few mobile homes or trailers ( 2.58%).

The most prevalent building size and type in Hope Mills are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 57.69% owning and 42.31% renting.

There is a lot of housing in Hope Mills 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 Hope Mills built between 2000 and later ( 28.83%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.29%).

Hope Mills Home Appreciation Rates

Real estate appreciation rates in Hope Mills's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.37% during the period.

Over the last year, Hope Mills appreciation rates have trailed the rest of the nation. In the last twelve months, Hope Mills's appreciation rate has been 0.68%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hope Mills were at -2.05%, which equates to an annual appreciation rate of -7.94%.

Notably, Hope Mills's appreciation rate in the latest quarter is one of the lowest in America.

Relative to North Carolina, our data show that Hope Mills's latest annual appreciation rate is lower than 70% 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 Hope Mills differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hope Mills - 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 Hope Mills real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$125,831

Hope Mills, NC HOME PRICES

Value Range
> $987,000 0.0
$740,001 - $987,000 0.0
$493,001 - $740,000 0.3
$395,001 - $493,000 0.2
$296,001 - $395,000 2.1
$197,001 - $296,000 12.4
$99,001 - $197,000 54.5
$49,001 - $99,000 24.3
$0 - $49,000 6.2

Average for NC
Low for Nation

Value Relative to Nation Value Relative to State
62.0942224305637 57.8947368421053

Number Of Homes And Apartments:
5,551

Hope Mills 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
22.68% 1.19% 5 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$999 / per month

Homeownership Rate

Homeownership
Owners 57.69
Renters 42.31
Vacant 9.49

Housing Market Details

 

Age of Homes

AGE OF Hope Mills HOMES
2000 or Newer 28.8
1970 - 1999 61.9
1940 - 1969 9.3
1939 or Older 0.0

Types of Homes

TYPE OF Hope Mills HOMES
Single-Family 71.5
Townhomes 1.6
Small Apt. Buildings 12.5
Apt. Complexes 11.9
Mobile Homes 2.6
Other 0.0

Home Size

SIZE OF Hope Mills HOMES
No Bedroom 0.55
1 Bedroom 4.30
2 Bedrooms 23.89
3 Bedrooms 53.92
4 Bedrooms 15.07
5 or more bedrooms 2.27