Mount Gilead, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Mount Gilead, 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

Mount Gilead Housing Market Information

With a population of 1,180, 458 total housing units (homes and apartments), and a median house value of $89,530, house prices in Mount Gilead are some of the most affordable in North Carolina as well as the nation.

Single-family detached homes are the single most common housing type in Mount Gilead, accounting for 83.45% of the town's housing units. Other types of housing that are prevalent in Mount Gilead include mobile homes or trailers ( 8.00%), duplexes, homes converted to apartments or other small apartment buildings ( 6.73%), and a few large apartment complexes or high rise apartments ( 1.27%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mount Gilead. Owner-occupied housing accounts for 73.32% of Mount Gilead's homes, and 75.82% have either three or four bedrooms, which is average sized relative to America.

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. Mount Gilead's housing was primarily built during this period, from the '40s through the '60s. A full 41.27% of the town's housing hails from this era. Other housing ages represented in Mount Gilead include homes built between 1970-1999 ( 30.91%) and housing constructed before 1939 ( 20.36%). There's also some housing in Mount Gilead built between 2000 and later ( 7.45%).

Vacant housing appears to be an issue in Mount Gilead. Fully 16.73% of the housing stock is classified as vacant. Left unchecked, vacant Mount Gilead homes and apartments can be a drag on the real estate market, holding Mount Gilead 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.

Mount Gilead Home Appreciation Rates

Real estate appreciation rates in Mount Gilead's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.32% during the period.

Appreciation rates are so strong in Mount Gilead that despite a nationwide downturn in the housing market, Mount Gilead real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mount Gilead appreciation rates continue to be some of the highest in America, at 7.50%, which is higher than appreciation rates in 84.15% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mount Gilead. Mount Gilead appreciation rates in the latest quarter were at -0.54%, which equates to an annual appreciation rate of -2.13%.

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

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

Average Home Values

 

Median Home Value:
$89,530

Mount Gilead, NC HOME PRICES

Value Range
> $1,083,000 0.0
$813,001 - $1,083,000 0.0
$541,001 - $813,000 1.9
$433,001 - $541,000 0.6
$325,001 - $433,000 1.4
$217,001 - $325,000 3.4
$108,001 - $217,000 27.1
$54,001 - $108,000 54.8
$0 - $54,000 10.9

Very Low for NC
Very Low for Nation

Value Relative to Nation Value Relative to State
84.3314191960624 86.5698729582577

Number Of Homes And Apartments:
458

Mount Gilead 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
54.13% 2.54% 9 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$809 / per month

Homeownership Rate

Homeownership
Owners 73.32
Renters 26.68
Vacant 16.73

Housing Market Details

 

Age of Homes

AGE OF Mount Gilead HOMES
2000 or Newer 7.5
1970 - 1999 30.9
1940 - 1969 41.3
1939 or Older 20.4

Types of Homes

TYPE OF Mount Gilead HOMES
Single-Family 83.5
Townhomes 0.5
Small Apt. Buildings 6.7
Apt. Complexes 1.3
Mobile Homes 8.0
Other 0.0

Home Size

SIZE OF Mount Gilead HOMES
No Bedroom 0.00
1 Bedroom 4.00
2 Bedrooms 18.00
3 Bedrooms 60.55
4 Bedrooms 15.27
5 or more bedrooms 2.18

Popular Neighborhoods in Mount Gilead

Zip Codes in Mount Gilead, NC