Louisburg, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Louisburg, NC Real Estate Data


Louisburg Housing Market Information

With 3,553 people, 1,104 houses or apartments, and a median cost of homes of $106,776, 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 62.92% of the town's housing units. Other types of housing that are prevalent in Louisburg include mobile homes or trailers ( 11.70%), large apartment complexes or high rise apartments ( 10.36%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.77%).

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 44.56% owning and 55.44% 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 ( 27.35%). A lesser amount of the housing stock also hails from before 1939 ( 12.33%). There's also some housing in Louisburg built between 2000 and later ( 6.88%).

Vacant housing appears to be an issue in Louisburg. Fully 12.73% 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.

Louisburg Home Appreciation Rates

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 -0.62% during the period.

NeighborhoodScout's data show that during the latest twelve months, Louisburg's appreciation rate, at 5.38%, has been at or slightly above the national average. In the latest quarter, Louisburg's appreciation rate has been 2.17%, which annualizes to a rate of 8.95%.

Relative to North Carolina, our data show that Louisburg'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 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.

Average Home Values

 

Median Home Value:
$106,776

Louisburg, NC HOME PRICES

Value Range
> $1,057,000 0.0
$792,001 - $1,057,000 0.8
$528,001 - $792,000 1.9
$422,001 - $528,000 0.9
$317,001 - $422,000 2.6
$211,001 - $317,000 13.4
$106,001 - $211,000 30.6
$53,001 - $106,000 33.5
$0 - $53,000 16.3

Low for NC
Low for Nation

Value Relative to Nation Value Relative to State
74.4978626222404 74.9546279491833

Number Of Homes And Apartments:
1,104

Rent & Ownership

 

Average Market Rent:
$747 / per month

Homeownership Rate

Homeownership
Owners 44.56
Renters 55.44
Vacant 12.73

Housing Market Details

 

Age of Homes

AGE OF Louisburg HOMES
2000 or Newer 6.9
1970 - 1999 53.4
1940 - 1969 27.4
1939 or Older 12.3

Types of Homes

TYPE OF Louisburg HOMES
Single-Family 62.9
Townhomes 6.2
Small Apt. Buildings 8.8
Apt. Complexes 10.4
Mobile Homes 11.7
Other 0.0

Home Size

SIZE OF Louisburg HOMES
No Bedroom 0.00
1 Bedroom 8.93
2 Bedrooms 31.38
3 Bedrooms 43.40
4 Bedrooms 7.43
5 or more bedrooms 8.85

Louisburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
7.82% 0.44% 1 1
* 10 is highest