Midway, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Midway, 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

Midway Housing Market Information

With a population of 4,742, 1,891 total housing units (homes and apartments), and a median house value of $169,464, Midway 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 Midway, accounting for 87.09% of the town's housing units. Other types of housing that are prevalent in Midway include mobile homes or trailers ( 9.25%), large apartment complexes or high rise apartments ( 2.79%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Midway. Owner-occupied housing accounts for 87.10% of Midway's homes, and 84.14% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Midway 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 Midway built between 1940-1969 ( 22.78%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.37%). There's also some housing in Midway built before 1939 ( 1.86%).

Midway Home Appreciation Rates

Real estate appreciation rates in Midway's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.59% during the period.

Over the last year, Midway appreciation rates have trailed the rest of the nation. In the last twelve months, Midway's appreciation rate has been 0.97%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Midway were at -1.84%, which equates to an annual appreciation rate of -7.17%.

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

Relative to North Carolina, our data show that Midway's latest annual appreciation rate is lower than 70% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$169,464

Midway, NC HOME PRICES

Value Range
> $1,059,000 0.4
$794,001 - $1,059,000 0.0
$529,001 - $794,000 2.1
$424,001 - $529,000 1.2
$318,001 - $424,000 5.0
$212,001 - $318,000 20.4
$106,001 - $212,000 46.4
$53,001 - $106,000 14.7
$0 - $53,000 9.7

High for NC
Average for Nation

Value Relative to Nation Value Relative to State
41.8492909879292 35.02722323049

Number Of Homes And Apartments:
1,891

Midway 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
8.56% 0.48% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$821 / per month

Homeownership Rate

Homeownership
Owners 87.10
Renters 12.90
Vacant 2.32

Housing Market Details

 

Age of Homes

AGE OF Midway HOMES
2000 or Newer 19.4
1970 - 1999 56.0
1940 - 1969 22.8
1939 or Older 1.9

Types of Homes

TYPE OF Midway HOMES
Single-Family 87.1
Townhomes 0.0
Small Apt. Buildings 0.9
Apt. Complexes 2.8
Mobile Homes 9.2
Other 0.0

Home Size

SIZE OF Midway HOMES
No Bedroom 0.00
1 Bedroom 1.76
2 Bedrooms 13.27
3 Bedrooms 72.73
4 Bedrooms 11.42
5 or more bedrooms 0.83

Popular Neighborhoods in Midway

Zip Codes in Midway, NC