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 Q4 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (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 16,082, 2,200 total housing units (homes and apartments), and a median house value of $208,619, Leicester real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Leicester, accounting for 58.20% of the town's housing units. Other types of housing that are prevalent in Leicester include mobile homes or trailers ( 33.01%), duplexes, homes converted to apartments or other small apartment buildings ( 3.90%), and a few large apartment complexes or high rise apartments ( 2.45%).

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 74.64% of Leicester's homes, and 64.47% 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 ( 31.32%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.19%). There's also some housing in Leicester built before 1939 ( 3.62%).

Vacant housing appears to be an issue in Leicester. Fully 12.52% 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

Real estate appreciation rates in Leicester's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 1.27% during the period.

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 9.68%, which is higher than appreciation rates in 90.07% 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 2.34%, which equates to an annual appreciation rate of 9.71%.

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:
$208,619

Leicester, NC HOME PRICES

Value Range
> $1,211,000 0.5
$908,001 - $1,211,000 0.5
$606,001 - $908,000 2.3
$485,001 - $606,000 3.8
$363,001 - $485,000 7.3
$242,001 - $363,000 23.8
$121,001 - $242,000 36.8
$61,001 - $121,000 16.0
$0 - $61,000 9.0

High for NC
High for Nation

Value Relative to Nation Value Relative to State
35.4452554744526 26.4492753623188

Number Of Homes And Apartments:
2,200

Leicester Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2018 Q3 - 2018 Q4
Last 12 Months:
2017 Q4 - 2018 Q4
Last 2 Years:
2016 Q4 - 2018 Q4
Last 5 Years:
2013 Q4 - 2018 Q4
Last 10 Years:
2008 Q4 - 2018 Q4
Since 2000:
2000 Q1 - 2018 Q4
65.38% 2.65%
9
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,005 / per month

Homeownership Rate

Homeownership
Owners 74.64
Renters 25.36
Vacant 12.52

Housing Market Details

 

Age of Homes

AGE OF Leicester HOMES
2000 or Newer 31.3
1970 - 1999 48.9
1940 - 1969 16.2
1939 or Older 3.6

Types of Homes

TYPE OF Leicester HOMES
Single-Family 58.2
Townhomes 2.4
Small Apt. Buildings 3.9
Apt. Complexes 2.4
Mobile Homes 33.0
Other 0.0

Home Size

SIZE OF Leicester HOMES
No Bedroom 0.25
1 Bedroom 5.14
2 Bedrooms 29.30
3 Bedrooms 54.13
4 Bedrooms 10.34
5 or more bedrooms 0.83

Popular Neighborhoods in Leicester

Zip Codes in Leicester, NC