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 Q3 2019. 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 16,097, 2,200 total housing units (homes and apartments), and a median house value of $215,495, 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

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 23.38%, which ranks in the top 50% nationwide. This equates to an annual average Leicester house appreciation rate of 2.12%.

NeighborhoodScout's data show that during the latest twelve months, Leicester's appreciation rate, at 4.33%, has been at or slightly above the national average. In the latest quarter, Leicester's appreciation rate has been 1.97%, which annualizes to a rate of 8.11%.

Relative to North Carolina, our data show that Leicester's latest annual appreciation rate is lower than 50% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$215,495

Leicester, NC HOME PRICES

Value Range
> $1,266,000 0.5
$949,001 - $1,266,000 0.5
$633,001 - $949,000 2.3
$506,001 - $633,000 3.8
$380,001 - $506,000 7.3
$253,001 - $380,000 23.8
$126,001 - $253,000 36.8
$63,001 - $126,000 16.0
$0 - $63,000 9.0

High for NC
High for Nation

Value Relative to Nation Value Relative to State
35.1591240875912 27.3550724637681

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:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
71.40% 2.77%
9
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,050 / 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