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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 3,553 people, 1,213 houses or apartments, and a median cost of homes of $120,827, house prices in Louisburg are solidly below the national average.
Single-family detached homes are the single most common housing type in Louisburg, accounting for 71.50% of the town's housing units. Other types of housing that are prevalent in Louisburg include duplexes, homes converted to apartments or other small apartment buildings ( 9.76%), large apartment complexes or high rise apartments ( 9.69%), and a few mobile homes or trailers ( 7.28%).
The most prevalent building size and type in Louisburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 42.93% owning and 57.07% renting.
There is a lot of housing in Louisburg 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 Louisburg built between 1940-1969 ( 37.62%). A lesser amount of the housing stock also hails from before 1939 ( 10.04%). There's also some housing in Louisburg built between 2000 and later ( 1.91%).
Vacant housing appears to be an issue in Louisburg. Fully 14.21% of the housing stock is classified as vacant. Left unchecked, vacant Louisburg homes and apartments can be a drag on the real estate market, holding Louisburg 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.
Real estate appreciation rates in Louisburg's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.17% during the period.
Appreciation rates are so strong in Louisburg that despite a nationwide downturn in the housing market, Louisburg real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Louisburg appreciation rates continue to be some of the highest in America, at 10.14%, which is higher than appreciation rates in 94.21% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Louisburg. Louisburg appreciation rates in the latest quarter were at 2.42%, which equates to an annual appreciation rate of 10.04%.
Importantly, this makes Louisburg one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to North Carolina, our data show that Louisburg's latest annual appreciation rate is higher than 90% 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 Louisburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Louisburg - 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 Louisburg real estate investment or home purchase decisions.
|$854,001 - $1,138,000||0.7|
|$569,001 - $854,000||2.3|
|$455,001 - $569,000||1.0|
|$341,001 - $455,000||2.0|
|$228,001 - $341,000||12.5|
|$114,001 - $228,000||32.7|
|$57,001 - $114,000||31.9|
|$0 - $57,000||17.0|
|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 Louisburg HOMES|
|2000 or Newer||1.9|
|1970 - 1999||50.4|
|1940 - 1969||37.6|
|1939 or Older||10.0|
|TYPE OF Louisburg HOMES|
|Small Apt. Buildings||9.8|
|SIZE OF Louisburg HOMES|
|5 or more bedrooms||4.38|