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.
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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Lillington HOMES|
|2000 or Newer||22.9|
|1970 - 1999||38.5|
|1940 - 1969||28.2|
|1939 or Older||10.5|
|TYPE OF Lillington HOMES|
|Small Apt. Buildings||17.1|
|SIZE OF Lillington HOMES|
|5 or more bedrooms||0.95|