Mineral Springs, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Mineral Springs, 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

Mineral Springs Housing Market Information

With 2,908 people, 969 houses or apartments, and a median cost of homes of $310,325, Mineral Springs real estate is some of the most expensive in North Carolina, although Mineral Springs home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Mineral Springs, accounting for 90.28% of the town's housing units. Other types of housing that are prevalent in Mineral Springs include mobile homes or trailers ( 8.62%), row houses and other attached homes ( 1.10%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mineral Springs. Owner-occupied housing accounts for 85.14% of Mineral Springs's homes, and 80.93% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Mineral Springs 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 Mineral Springs built between 2000 and later ( 18.42%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.12%).

Vacant housing appears to be an issue in Mineral Springs. Fully 11.18% of the housing stock is classified as vacant. Left unchecked, vacant Mineral Springs homes and apartments can be a drag on the real estate market, holding Mineral Springs 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.

Mineral Springs Home Appreciation Rates

Appreciation rates for homes in Mineral Springs have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.24%, which ranks in the top 30% nationwide. This equates to an annual average Mineral Springs house appreciation rate of 0.89%.

Appreciation rates are so strong in Mineral Springs that despite a nationwide downturn in the housing market, Mineral Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mineral Springs appreciation rates continue to be some of the highest in America, at 6.29%, which is higher than appreciation rates in 76.44% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mineral Springs. Mineral Springs appreciation rates in the latest quarter were at 1.88%, which equates to an annual appreciation rate of 7.72%.

Importantly, this makes Mineral Springs 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 Mineral Springs's latest annual appreciation rate is higher than 80% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$310,325

Mineral Springs, NC HOME PRICES

Value Range
> $1,201,000 0.8
$901,001 - $1,201,000 0.3
$601,001 - $901,000 2.3
$481,001 - $601,000 8.2
$361,001 - $481,000 20.7
$240,001 - $361,000 33.2
$120,001 - $240,000 27.2
$60,001 - $120,000 4.4
$0 - $60,000 3.0

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
15.3990390249619 6.71506352087114

Number Of Homes And Apartments:
969

Mineral Springs 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
39.36% 1.94% 8 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,437 / per month

Homeownership Rate

Homeownership
Owners 85.14
Renters 14.86
Vacant 11.18

Housing Market Details

 

Age of Homes

AGE OF Mineral Springs HOMES
2000 or Newer 18.4
1970 - 1999 66.0
1940 - 1969 15.1
1939 or Older 0.5

Types of Homes

TYPE OF Mineral Springs HOMES
Single-Family 90.3
Townhomes 1.1
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 8.6
Other 0.0

Home Size

SIZE OF Mineral Springs HOMES
No Bedroom 0.55
1 Bedroom 1.28
2 Bedrooms 15.12
3 Bedrooms 58.48
4 Bedrooms 22.46
5 or more bedrooms 2.11

Popular Neighborhoods in Mineral Springs

Zip Codes in Mineral Springs, NC