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


Mount Olive Housing Market Information

With a population of 4,728, 1,626 total housing units (homes and apartments), and a median house value of $86,837, 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 62.96% of the town's housing units. Other types of housing that are prevalent in Mount Olive include mobile homes or trailers ( 16.16%), large apartment complexes or high rise apartments ( 10.49%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.45%).

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 50.60% owning and 49.40% 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 ( 36.00%). A lesser amount of the housing stock also hails from before 1939 ( 15.90%). There's also some housing in Mount Olive built between 2000 and later ( 3.90%).

Vacant housing appears to be an issue in Mount Olive. Fully 15.53% 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 13.51%, which ranks in the top 30% nationwide. This equates to an annual average Mount Olive house appreciation rate of 1.28%.

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 1.01%, 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 2.34%, which equates to an annual appreciation rate of 9.70%.

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:
$86,837

Mount Olive, NC HOME PRICES

Value Range
> $1,016,000 0.0
$762,001 - $1,016,000 0.0
$507,001 - $762,000 0.6
$406,001 - $507,000 0.0
$304,001 - $406,000 1.0
$203,001 - $304,000 6.7
$101,001 - $203,000 35.0
$50,001 - $101,000 28.3
$0 - $50,000 28.3

Very Low for NC
Very Low for Nation

Value Relative to Nation Value Relative to State
87.2460033963811 88.5662431941924

Number Of Homes And Apartments:
1,626

Rent & Ownership

 

Average Market Rent:
$687 / per month

Homeownership Rate

Homeownership
Owners 50.60
Renters 49.40
Vacant 15.53

Housing Market Details

 

Age of Homes

AGE OF Mount Olive HOMES
2000 or Newer 3.9
1970 - 1999 44.2
1940 - 1969 36.0
1939 or Older 15.9

Types of Homes

TYPE OF Mount Olive HOMES
Single-Family 63.0
Townhomes 0.9
Small Apt. Buildings 9.5
Apt. Complexes 10.5
Mobile Homes 16.2
Other 0.0

Home Size

SIZE OF Mount Olive HOMES
No Bedroom 4.99
1 Bedroom 6.34
2 Bedrooms 23.79
3 Bedrooms 54.49
4 Bedrooms 7.84
5 or more bedrooms 2.55

Mount Olive Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
42.58% 2.11% 8 5
* 10 is highest