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 about Scout's Real Estate Data
With a population of 7,206, 2,754 total housing units (homes and apartments), and a median house value of $476,682, Mills River real estate is some of the most expensive in North Carolina, although Mills River home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Mills River, accounting for 74.83% of the town's housing units. Other types of housing that are prevalent in Mills River include mobile homes or trailers ( 21.13%), row houses and other attached homes ( 2.75%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mills River. Owner-occupied housing accounts for 84.50% of Mills River's homes, and 71.94% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Mills River 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 Mills River built between 2000 and later ( 40.15%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.56%). There's also some housing in Mills River built before 1939 ( 1.85%).
Appreciation rates for homes in Mills River have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 103.56%, which ranks in the top 30% nationwide. This equates to an annual average Mills River house appreciation rate of 7.37%.
Appreciation rates are so strong in Mills River that despite a nationwide downturn in the housing market, Mills River real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mills River appreciation rates continue to be some of the highest in America, at 8.03%, which is higher than appreciation rates in 86.87% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mills River. Mills River appreciation rates in the latest quarter were at 0.27%, which equates to an annual appreciation rate of 1.08%.
Relative to North Carolina, our data show that Mills River's latest annual appreciation rate is higher than 80% of the other cities and towns in North Carolina.
$476,682
for North carolina
for nation
2,754
$2,821 / per month