King, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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King, NC Real Estate Data


King Housing Market Information

With a population of 7,059, 2,620 total housing units (homes and apartments), and a median house value of $127,711, house prices in King are solidly below the national average.

Single-family detached homes are the single most common housing type in King, accounting for 78.01% of the city's housing units. Other types of housing that are prevalent in King include large apartment complexes or high rise apartments ( 7.59%), mobile homes or trailers ( 5.30%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.17%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in King. Owner-occupied housing accounts for 78.50% of King's homes, and 70.09% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in King 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 King built between 2000 and later ( 17.29%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.01%).

Vacant housing appears to be an issue in King. Fully 12.05% of the housing stock is classified as vacant. Left unchecked, vacant King homes and apartments can be a drag on the real estate market, holding King 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.

King Home Appreciation Rates

Real estate appreciation rates in King's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.11% during the period.

Over the last year, King appreciation rates have trailed the rest of the nation. In the last twelve months, King's appreciation rate has been 3.94%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in King were at 1.65%, which equates to an annual appreciation rate of 6.77%.

Relative to North Carolina, our data show that King's latest annual appreciation rate is lower than 70% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$127,711

King, NC HOME PRICES

Value Range
> $1,057,000 0.4
$793,001 - $1,057,000 0.0
$528,001 - $793,000 1.1
$423,001 - $528,000 1.8
$317,001 - $423,000 4.9
$211,001 - $317,000 9.0
$106,001 - $211,000 49.4
$53,001 - $106,000 18.0
$0 - $53,000 15.4

Average for NC
Low for Nation

Value Relative to Nation Value Relative to State
62.1010716167945 59.8911070780399

Number Of Homes And Apartments:
2,620

Rent & Ownership

 

Average Market Rent:
$753 / per month

Homeownership Rate

Homeownership
Owners 78.50
Renters 21.50
Vacant 12.05

Housing Market Details

 

Age of Homes

AGE OF King HOMES
2000 or Newer 17.3
1970 - 1999 66.7
1940 - 1969 15.0
1939 or Older 1.0

Types of Homes

TYPE OF King HOMES
Single-Family 78.0
Townhomes 3.9
Small Apt. Buildings 5.2
Apt. Complexes 7.6
Mobile Homes 5.3
Other 0.0

Home Size

SIZE OF King HOMES
No Bedroom 0.74
1 Bedroom 7.12
2 Bedrooms 18.36
3 Bedrooms 60.86
4 Bedrooms 9.23
5 or more bedrooms 3.69

King Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
20.00% 1.08% 4 2
* 10 is highest