Mayodan, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Mayodan Neighborhoods Since 2000




Mayodan, 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

Mayodan Housing Market Information

With 2,470 people, 1,190 houses or apartments, and a median cost of homes of $106,068, house prices in Mayodan are solidly below the national average.

Single-family detached homes are the single most common housing type in Mayodan, accounting for 70.29% of the town's housing units. Other types of housing that are prevalent in Mayodan include large apartment complexes or high rise apartments ( 16.62%), duplexes, homes converted to apartments or other small apartment buildings ( 11.54%).

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

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Mayodan's housing was primarily built during this period, from the '40s through the '60s. A full 45.74% of the town's housing hails from this era. Other housing ages represented in Mayodan include homes built between 1970-1999 ( 36.10%) and housing constructed before 1939 ( 14.78%). There's also some housing in Mayodan built between 2000 and later ( 3.38%).

Vacant housing appears to be an issue in Mayodan. Fully 12.50% of the housing stock is classified as vacant. Left unchecked, vacant Mayodan homes and apartments can be a drag on the real estate market, holding Mayodan 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.

Mayodan Home Appreciation Rates

Mayodan's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mayodan during the period has been just -0.80%, which is lower than 70% of US communities.

Over the last year, Mayodan appreciation rates have trailed the rest of the nation. In the last twelve months, Mayodan's appreciation rate has been -6.72%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mayodan were at 0.02%, which equates to an annual appreciation rate of 0.09%.

Relative to North Carolina, our data show that Mayodan's latest annual appreciation rate is lower than 90% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$106,068

Mayodan, NC HOME PRICES

Value Range
> $993,000 0.0
$745,001 - $993,000 0.2
$497,001 - $745,000 0.2
$397,001 - $497,000 0.0
$298,001 - $397,000 1.6
$199,001 - $298,000 11.1
$100,001 - $199,000 30.9
$50,001 - $100,000 45.3
$0 - $50,000 10.7

Low for NC
Low for Nation

Value Relative to Nation Value Relative to State
73.6317824915036 75.6805807622504

Number Of Homes And Apartments:
1,190

Mayodan 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
-11.02% -0.67% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$710 / per month

Homeownership Rate

Homeownership
Owners 47.96
Renters 52.04
Vacant 12.50

Housing Market Details

 

Age of Homes

AGE OF Mayodan HOMES
2000 or Newer 3.4
1970 - 1999 36.1
1940 - 1969 45.7
1939 or Older 14.8

Types of Homes

TYPE OF Mayodan HOMES
Single-Family 70.3
Townhomes 0.6
Small Apt. Buildings 11.5
Apt. Complexes 16.6
Mobile Homes 1.0
Other 0.0

Home Size

SIZE OF Mayodan HOMES
No Bedroom 0.37
1 Bedroom 20.74
2 Bedrooms 38.90
3 Bedrooms 34.34
4 Bedrooms 5.29
5 or more bedrooms 0.37

Popular Neighborhoods in Mayodan

Zip Codes in Mayodan, NC