Kinston, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Kinston, 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

Kinston Housing Market Information

With 21,337 people, 8,961 houses or apartments, and a median cost of homes of $86,522, house prices in Kinston are some of the most affordable in North Carolina as well as the nation.

Single-family detached homes are the single most common housing type in Kinston, accounting for 65.26% of the city's housing units. Other types of housing that are prevalent in Kinston include large apartment complexes or high rise apartments ( 16.34%), duplexes, homes converted to apartments or other small apartment buildings ( 13.30%), and a few mobile homes or trailers ( 3.14%).

The most prevalent building size and type in Kinston are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 43.35% owning and 56.65% 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. Kinston's housing was primarily built during this period, from the '40s through the '60s. A full 53.77% of the city's housing hails from this era. Other housing ages represented in Kinston include homes built between 1970-1999 ( 36.46%) and housing constructed before 1939 ( 7.44%). There's also some housing in Kinston built between 2000 and later ( 2.33%).

Vacant housing appears to be an issue in Kinston. Fully 18.72% of the housing stock is classified as vacant. Left unchecked, vacant Kinston homes and apartments can be a drag on the real estate market, holding Kinston 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.

Kinston Home Appreciation Rates

Kinston's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Kinston during the period has been just -1.70%, which is lower than 80% of US communities.

Over the last year, Kinston appreciation rates have trailed the rest of the nation. In the last twelve months, Kinston's appreciation rate has been -3.83%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Kinston were at -0.54%, which equates to an annual appreciation rate of -2.13%.

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

Relative to North Carolina, our data show that Kinston's latest annual appreciation rate is lower than 90% 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 Kinston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Kinston - 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 Kinston real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$86,522

Kinston, NC HOME PRICES

Value Range
> $957,000 0.8
$717,001 - $957,000 0.0
$478,001 - $717,000 0.3
$383,001 - $478,000 0.3
$287,001 - $383,000 2.8
$191,001 - $287,000 5.8
$96,001 - $191,000 32.7
$48,001 - $96,000 31.7
$0 - $48,000 25.5

Very Low for NC
Very Low for Nation

Value Relative to Nation Value Relative to State
86.4584554084144 88.929219600726

Number Of Homes And Apartments:
8,961

Kinston 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
-4.32% -0.26% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$807 / per month

Homeownership Rate

Homeownership
Owners 43.35
Renters 56.65
Vacant 18.72

Housing Market Details

 

Age of Homes

AGE OF Kinston HOMES
2000 or Newer 2.3
1970 - 1999 36.5
1940 - 1969 53.8
1939 or Older 7.4

Types of Homes

TYPE OF Kinston HOMES
Single-Family 65.3
Townhomes 2.0
Small Apt. Buildings 13.3
Apt. Complexes 16.3
Mobile Homes 3.1
Other 0.0

Home Size

SIZE OF Kinston HOMES
No Bedroom 2.29
1 Bedroom 10.74
2 Bedrooms 32.88
3 Bedrooms 40.95
4 Bedrooms 10.62
5 or more bedrooms 2.52