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
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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Mount Gilead HOMES|
|2000 or Newer||7.5|
|1970 - 1999||30.9|
|1940 - 1969||41.3|
|1939 or Older||20.4|
|TYPE OF Mount Gilead HOMES|
|Small Apt. Buildings||6.7|
|SIZE OF Mount Gilead HOMES|
|5 or more bedrooms||2.18|