Kannapolis, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Kannapolis Neighborhoods Since 2000




Kannapolis, 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

Kannapolis Housing Market Information

With a population of 46,144, 16,513 total housing units (homes and apartments), and a median house value of $148,223, Kannapolis real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Kannapolis, accounting for 78.86% of the city's housing units. Other types of housing that are prevalent in Kannapolis include large apartment complexes or high rise apartments ( 9.05%), mobile homes or trailers ( 6.74%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.04%).

The most prevalent building size and type in Kannapolis are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.18% owning and 41.82% 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. Kannapolis's housing was primarily built during this period, from the '40s through the '60s. A full 32.71% of the city's housing hails from this era. Other housing ages represented in Kannapolis include homes built between 1970-1999 ( 30.77%) and housing constructed between 2000 and later ( 22.93%). There's also some housing in Kannapolis built before 1939 ( 13.59%).

Vacant housing appears to be an issue in Kannapolis. Fully 14.66% of the housing stock is classified as vacant. Left unchecked, vacant Kannapolis homes and apartments can be a drag on the real estate market, holding Kannapolis 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.

Kannapolis Home Appreciation Rates

Appreciation rates for homes in Kannapolis have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.58%, which ranks in the top 50% nationwide. This equates to an annual average Kannapolis house appreciation rate of 0.16%.

Appreciation rates are so strong in Kannapolis that despite a nationwide downturn in the housing market, Kannapolis real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Kannapolis appreciation rates continue to be some of the highest in America, at 6.54%, which is higher than appreciation rates in 78.18% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Kannapolis. Kannapolis appreciation rates in the latest quarter were at 1.88%, which equates to an annual appreciation rate of 7.72%.

Importantly, this makes Kannapolis one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$148,223

Kannapolis, NC HOME PRICES

Value Range
> $1,158,000 0.9
$868,001 - $1,158,000 0.1
$579,001 - $868,000 1.2
$463,001 - $579,000 1.1
$348,001 - $463,000 2.5
$231,001 - $348,000 11.1
$116,001 - $231,000 48.0
$58,001 - $116,000 27.6
$0 - $58,000 7.5

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
50.8320637524903 43.557168784029

Number Of Homes And Apartments:
16,513

Kannapolis 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
18.52% 0.99% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,048 / per month

Homeownership Rate

Homeownership
Owners 58.18
Renters 41.82
Vacant 14.66

Housing Market Details

 

Age of Homes

AGE OF Kannapolis HOMES
2000 or Newer 22.9
1970 - 1999 30.8
1940 - 1969 32.7
1939 or Older 13.6

Types of Homes

TYPE OF Kannapolis HOMES
Single-Family 78.9
Townhomes 1.3
Small Apt. Buildings 4.0
Apt. Complexes 9.0
Mobile Homes 6.7
Other 0.0

Home Size

SIZE OF Kannapolis HOMES
No Bedroom 3.63
1 Bedroom 4.07
2 Bedrooms 36.17
3 Bedrooms 43.31
4 Bedrooms 9.42
5 or more bedrooms 3.40