Mount Olive, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Mount Olive Neighborhoods Since 2000




Mount Olive, 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 Olive Housing Market Information

With a population of 4,728, 1,724 total housing units (homes and apartments), and a median house value of $84,028, house prices in Mount Olive 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 Olive, accounting for 63.89% of the town's housing units. Other types of housing that are prevalent in Mount Olive include mobile homes or trailers ( 15.00%), large apartment complexes or high rise apartments ( 10.70%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.61%).

The most prevalent building size and type in Mount Olive are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 51.04% owning and 48.96% renting.

There is a lot of housing in Mount Olive 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 Mount Olive built between 1940-1969 ( 36.87%). A lesser amount of the housing stock also hails from before 1939 ( 17.79%). There's also some housing in Mount Olive built between 2000 and later ( 4.50%).

Vacant housing appears to be an issue in Mount Olive. Fully 18.41% of the housing stock is classified as vacant. Left unchecked, vacant Mount Olive homes and apartments can be a drag on the real estate market, holding Mount Olive 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 Olive Home Appreciation Rates

Appreciation rates for homes in Mount Olive have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.43%, which ranks in the top 50% nationwide. This equates to an annual average Mount Olive house appreciation rate of 0.43%.

Over the last year, Mount Olive appreciation rates have trailed the rest of the nation. In the last twelve months, Mount Olive's appreciation rate has been -6.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mount Olive were at -2.38%, which equates to an annual appreciation rate of -9.19%.

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

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

Average Home Values

 

Median Home Value:
$84,028

Mount Olive, NC HOME PRICES

Value Range
> $1,003,000 0.3
$753,001 - $1,003,000 0.4
$502,001 - $753,000 0.7
$401,001 - $502,000 0.7
$301,001 - $401,000 1.6
$201,001 - $301,000 3.9
$100,001 - $201,000 30.3
$50,001 - $100,000 36.9
$0 - $50,000 25.1

Very Low for NC
Very Low for Nation

Value Relative to Nation Value Relative to State
87.9702332122348 90.562613430127

Number Of Homes And Apartments:
1,724

Mount Olive 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
35.18% 1.76% 7 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$775 / per month

Homeownership Rate

Homeownership
Owners 51.04
Renters 48.96
Vacant 18.41

Housing Market Details

 

Age of Homes

AGE OF Mount Olive HOMES
2000 or Newer 4.5
1970 - 1999 40.8
1940 - 1969 36.9
1939 or Older 17.8

Types of Homes

TYPE OF Mount Olive HOMES
Single-Family 63.9
Townhomes 0.8
Small Apt. Buildings 9.6
Apt. Complexes 10.7
Mobile Homes 15.0
Other 0.0

Home Size

SIZE OF Mount Olive HOMES
No Bedroom 6.67
1 Bedroom 5.16
2 Bedrooms 26.08
3 Bedrooms 51.54
4 Bedrooms 8.47
5 or more bedrooms 2.08