Lenoir, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Lenoir Neighborhoods Since 2000




Lenoir, 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

Lenoir Housing Market Information

With a population of 17,888, 7,231 total housing units (homes and apartments), and a median house value of $108,696, house prices in Lenoir are solidly below the national average.

Single-family detached homes are the single most common housing type in Lenoir, accounting for 69.42% of the city's housing units. Other types of housing that are prevalent in Lenoir include large apartment complexes or high rise apartments ( 12.72%), duplexes, homes converted to apartments or other small apartment buildings ( 10.39%), and a few mobile homes or trailers ( 7.33%).

People in Lenoir primarily live in small (one, two or no bedroom) single-family detached homes. Lenoir has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Lenoir 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 Lenoir built between 1940-1969 ( 36.63%). A lesser amount of the housing stock also hails from before 1939 ( 10.47%). There's also some housing in Lenoir built between 2000 and later ( 7.41%).

Vacant housing appears to be an issue in Lenoir. Fully 17.80% of the housing stock is classified as vacant. Left unchecked, vacant Lenoir homes and apartments can be a drag on the real estate market, holding Lenoir 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.

Lenoir Home Appreciation Rates

Real estate appreciation rates in Lenoir's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.35% during the period.

NeighborhoodScout's data show that during the latest twelve months, Lenoir's appreciation rate, at 3.53%, has been at or slightly above the national average. In the latest quarter, Lenoir's appreciation rate has been -1.33%, which annualizes to a rate of -5.22%.

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

Relative to North Carolina, our data show that Lenoir's latest annual appreciation rate is higher than 60% 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 Lenoir differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lenoir - 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 Lenoir real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$108,696

Lenoir, NC HOME PRICES

Value Range
> $1,075,000 0.0
$806,001 - $1,075,000 0.3
$537,001 - $806,000 0.3
$430,001 - $537,000 2.0
$323,001 - $430,000 1.6
$215,001 - $323,000 7.0
$107,001 - $215,000 41.3
$53,001 - $107,000 33.4
$0 - $53,000 14.2

Low for NC
Low for Nation

Value Relative to Nation Value Relative to State
72.1434431032462 73.502722323049

Number Of Homes And Apartments:
7,231

Lenoir 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
14.21% 0.77% 3 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$753 / per month

Homeownership Rate

Homeownership
Owners 58.93
Renters 41.07
Vacant 17.80

Housing Market Details

 

Age of Homes

AGE OF Lenoir HOMES
2000 or Newer 7.4
1970 - 1999 45.5
1940 - 1969 36.6
1939 or Older 10.5

Types of Homes

TYPE OF Lenoir HOMES
Single-Family 69.4
Townhomes 0.1
Small Apt. Buildings 10.4
Apt. Complexes 12.7
Mobile Homes 7.3
Other 0.0

Home Size

SIZE OF Lenoir HOMES
No Bedroom 0.11
1 Bedroom 10.51
2 Bedrooms 39.09
3 Bedrooms 36.90
4 Bedrooms 10.33
5 or more bedrooms 3.05