Leicester, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Leicester, 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

Leicester Housing Market Information

With a population of 15,936, 2,139 total housing units (homes and apartments), and a median house value of $168,067, Leicester 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 Leicester, accounting for 54.59% of the town's housing units. Other types of housing that are prevalent in Leicester include mobile homes or trailers ( 34.16%), large apartment complexes or high rise apartments ( 4.76%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.20%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Leicester. Owner-occupied housing accounts for 73.04% of Leicester's homes, and 64.40% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Leicester 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 Leicester built between 2000 and later ( 31.83%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.13%). There's also some housing in Leicester built before 1939 ( 6.40%).

Vacant housing appears to be an issue in Leicester. Fully 11.17% of the housing stock is classified as vacant. Left unchecked, vacant Leicester homes and apartments can be a drag on the real estate market, holding Leicester 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.

Leicester Home Appreciation Rates

Appreciation rates for homes in Leicester have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.16%, which ranks in the top 50% nationwide. This equates to an annual average Leicester house appreciation rate of 0.21%.

Appreciation rates are so strong in Leicester that despite a nationwide downturn in the housing market, Leicester real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Leicester appreciation rates continue to be some of the highest in America, at 8.99%, which is higher than appreciation rates in 90.71% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Leicester. Leicester appreciation rates in the latest quarter were at 1.50%, which equates to an annual appreciation rate of 6.15%.

Relative to North Carolina, our data show that Leicester's latest annual appreciation rate is higher than 90% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$168,067

Leicester, NC HOME PRICES

Value Range
> $1,193,000 0.6
$895,001 - $1,193,000 0.6
$597,001 - $895,000 2.5
$477,001 - $597,000 2.7
$358,001 - $477,000 9.9
$238,001 - $358,000 19.1
$119,001 - $238,000 32.1
$60,001 - $119,000 17.5
$0 - $60,000 15.0

High for NC
Average for Nation

Value Relative to Nation Value Relative to State
42.3883745458807 35.7531760435572

Number Of Homes And Apartments:
2,139

Leicester 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
47.56% 2.28% 9 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$957 / per month

Homeownership Rate

Homeownership
Owners 73.04
Renters 26.96
Vacant 11.17

Housing Market Details

 

Age of Homes

AGE OF Leicester HOMES
2000 or Newer 31.8
1970 - 1999 46.6
1940 - 1969 15.1
1939 or Older 6.4

Types of Homes

TYPE OF Leicester HOMES
Single-Family 54.6
Townhomes 2.3
Small Apt. Buildings 4.2
Apt. Complexes 4.8
Mobile Homes 34.2
Other 0.0

Home Size

SIZE OF Leicester HOMES
No Bedroom 1.69
1 Bedroom 6.21
2 Bedrooms 26.83
3 Bedrooms 52.40
4 Bedrooms 12.00
5 or more bedrooms 0.88

Popular Neighborhoods in Leicester

Zip Codes in Leicester, NC