Lillington, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lillington, 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

Lillington Housing Market Information

With a population of 3,476, 1,032 total housing units (homes and apartments), and a median house value of $145,556, Lillington 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 Lillington, accounting for 49.70% of the town's housing units. Other types of housing that are prevalent in Lillington include large apartment complexes or high rise apartments ( 24.72%), duplexes, homes converted to apartments or other small apartment buildings ( 17.11%), and a few mobile homes or trailers ( 5.27%).

Lillington is dominated by renter-occupied one, two, or no bedrooms apartments. 76.79% of Lillington's dwellings are rentals.

There is a lot of housing in Lillington 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 Lillington built between 1940-1969 ( 28.18%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.90%). There's also some housing in Lillington built before 1939 ( 10.46%).

Vacant housing appears to be an issue in Lillington. Fully 10.80% of the housing stock is classified as vacant. Left unchecked, vacant Lillington homes and apartments can be a drag on the real estate market, holding Lillington 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.

Lillington Home Appreciation Rates

Appreciation rates for homes in Lillington have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.30%, which ranks in the top 30% nationwide. This equates to an annual average Lillington house appreciation rate of 1.35%.

NeighborhoodScout's data show that during the latest twelve months, Lillington's appreciation rate, at 3.15%, has been at or slightly above the national average. In the latest quarter, Lillington's appreciation rate has been -0.54%, which annualizes to a rate of -2.13%.

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

Relative to North Carolina, our data show that Lillington's latest annual appreciation rate is higher than 50% 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 town. Individual neighborhoods within Lillington differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lillington - 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 Lillington real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$145,556

Lillington, NC HOME PRICES

Value Range
> $1,133,000 0.0
$850,001 - $1,133,000 0.0
$567,001 - $850,000 1.1
$454,001 - $567,000 2.3
$340,001 - $454,000 3.5
$226,001 - $340,000 13.7
$114,001 - $226,000 43.1
$57,001 - $114,000 23.8
$0 - $57,000 12.6

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
51.892652056721 45.3720508166969

Number Of Homes And Apartments:
1,032

Lillington 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
30.64% 1.56% 6 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$836 / per month

Homeownership Rate

Homeownership
Owners 23.21
Renters 76.79
Vacant 10.80

Housing Market Details

 

Age of Homes

AGE OF Lillington HOMES
2000 or Newer 22.9
1970 - 1999 38.5
1940 - 1969 28.2
1939 or Older 10.5

Types of Homes

TYPE OF Lillington HOMES
Single-Family 49.7
Townhomes 3.2
Small Apt. Buildings 17.1
Apt. Complexes 24.7
Mobile Homes 5.3
Other 0.0

Home Size

SIZE OF Lillington HOMES
No Bedroom 1.21
1 Bedroom 18.24
2 Bedrooms 39.93
3 Bedrooms 29.65
4 Bedrooms 10.03
5 or more bedrooms 0.95