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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 1,376 people, 836 houses or apartments, and a median cost of homes of $764,937, Lake Lure house prices are not only among the most expensive in North Carolina, Lake Lure real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Lake Lure, accounting for 71.81% of the town's housing units. Other types of housing that are prevalent in Lake Lure include duplexes, homes converted to apartments or other small apartment buildings ( 14.50%), row houses and other attached homes ( 6.69%), and a few large apartment complexes or high rise apartments ( 5.66%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lake Lure. Owner-occupied housing accounts for 84.57% of Lake Lure's homes, and 50.09% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Lake Lure 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 Lake Lure built between 2000 and later ( 32.07%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.27%). There's also some housing in Lake Lure built before 1939 ( 2.23%).
A decent proportion of the Lake Lure housing stock is seasonally occupied. That is, homes and condos in Lake Lure are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Lake Lure housing market speaks to its popularity as a vacation location of choice.
Appreciation rates for homes in Lake Lure have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.73%, which ranks in the top 40% nationwide. This equates to an annual average Lake Lure house appreciation rate of 6.95%.
Appreciation rates are so strong in Lake Lure that despite a nationwide downturn in the housing market, Lake Lure real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lake Lure appreciation rates continue to be some of the highest in America, at 7.33%, which is higher than appreciation rates in 77.29% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lake Lure. Lake Lure appreciation rates in the latest quarter were at 1.41%, which equates to an annual appreciation rate of 5.77%.
Relative to North Carolina, our data show that Lake Lure's latest annual appreciation rate is higher than 50% of the other cities and towns in North Carolina.
$764,937
for North carolina
for nation
836
$1,791 / per month