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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Mineral Springs Housing Market Information

With a population of 3,007, 1,082 total housing units (homes and apartments), and a median house value of $377,252, Mineral Springs house prices are not only among the most expensive in North Carolina, Mineral Springs real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Mineral Springs, accounting for 91.52% of the town's housing units. Other types of housing that are prevalent in Mineral Springs include mobile homes or trailers ( 7.71%).

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 82.90% of Mineral Springs's homes, and 84.33% 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 ( 25.17%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.36%). There's also some housing in Mineral Springs built before 1939 ( 1.20%).

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 21.74%, which ranks in the top 40% nationwide. This equates to an annual average Mineral Springs house appreciation rate of 1.99%.

NeighborhoodScout's data show that during the latest twelve months, Mineral Springs's appreciation rate, at 4.92%, has been at or slightly above the national average. In the latest quarter, Mineral Springs's appreciation rate has been 1.99%, which annualizes to a rate of 8.21%.

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 lower than 50% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$377,252

Mineral Springs, NC HOME PRICES

Value Range
> $1,221,000 1.9
$916,001 - $1,221,000 0.7
$610,001 - $916,000 6.7
$489,001 - $610,000 10.0
$367,001 - $489,000 12.9
$244,001 - $367,000 19.4
$122,001 - $244,000 38.7
$61,001 - $122,000 5.8
$0 - $61,000 3.9

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
12.4671532846715 5.07246376811594

Number Of Homes And Apartments:
1,082

Mineral Springs Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
58.35% 2.42%
8
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,343 / per month

Homeownership Rate

Homeownership
Owners 82.90
Renters 17.10
Vacant 7.36

Housing Market Details

 

Age of Homes

AGE OF Mineral Springs HOMES
2000 or Newer 25.2
1970 - 1999 60.3
1940 - 1969 13.4
1939 or Older 1.2

Types of Homes

TYPE OF Mineral Springs HOMES
Single-Family 91.5
Townhomes 0.0
Small Apt. Buildings 0.0
Apt. Complexes 0.8
Mobile Homes 7.7
Other 0.0

Home Size

SIZE OF Mineral Springs HOMES
No Bedroom 0.00
1 Bedroom 2.40
2 Bedrooms 9.67
3 Bedrooms 57.96
4 Bedrooms 26.37
5 or more bedrooms 3.60

Popular Neighborhoods in Mineral Springs

Zip Codes in Mineral Springs, NC