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 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.
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.
|$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|
|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 Olive HOMES|
|2000 or Newer||4.5|
|1970 - 1999||40.8|
|1940 - 1969||36.9|
|1939 or Older||17.8|
|TYPE OF Mount Olive HOMES|
|Small Apt. Buildings||9.6|
|SIZE OF Mount Olive HOMES|
|5 or more bedrooms||2.08|