New Bern, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating New Bern Neighborhoods Since 2000




New Bern, 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

New Bern Housing Market Information

With 30,070 people, 12,746 houses or apartments, and a median cost of homes of $126,291, house prices in New Bern are solidly below the national average.

Single-family detached homes are the single most common housing type in New Bern, accounting for 59.86% of the city's housing units. Other types of housing that are prevalent in New Bern include large apartment complexes or high rise apartments ( 20.33%), duplexes, homes converted to apartments or other small apartment buildings ( 9.27%), and a few mobile homes or trailers ( 5.43%).

The most prevalent building size and type in New Bern are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.62% owning and 50.38% renting.

There is a lot of housing in New Bern 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 New Bern built between 1940-1969 ( 25.24%). A lesser amount of the housing stock also hails from between 2000 and later ( 24.80%). There's also some housing in New Bern built before 1939 ( 7.21%).

Vacant housing appears to be an issue in New Bern. Fully 13.84% of the housing stock is classified as vacant. Left unchecked, vacant New Bern homes and apartments can be a drag on the real estate market, holding New Bern 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.

New Bern Home Appreciation Rates

New Bern's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in New Bern during the period has been just -1.52%, which is lower than 80% of US communities.

Over the last year, New Bern appreciation rates have trailed the rest of the nation. In the last twelve months, New Bern's appreciation rate has been 2.54%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Bern were at -0.53%, which equates to an annual appreciation rate of -2.09%.

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

Relative to North Carolina, our data show that New Bern's latest annual appreciation rate is lower than 50% of the other cities and towns in North Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within New Bern differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Bern - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best New Bern real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$126,291

New Bern, NC HOME PRICES

Value Range
> $1,038,000 0.7
$778,001 - $1,038,000 0.8
$519,001 - $778,000 2.5
$415,001 - $519,000 2.9
$311,001 - $415,000 6.2
$208,001 - $311,000 15.3
$104,001 - $208,000 39.5
$52,001 - $104,000 20.3
$0 - $52,000 11.9

Average for NC
Low for Nation

Value Relative to Nation Value Relative to State
61.8422594632603 57.3502722323049

Number Of Homes And Apartments:
12,746

New Bern 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
29.12% 1.49% 6 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,275 / per month

Homeownership Rate

Homeownership
Owners 49.62
Renters 50.38
Vacant 13.84

Housing Market Details

 

Age of Homes

AGE OF New Bern HOMES
2000 or Newer 24.8
1970 - 1999 42.8
1940 - 1969 25.2
1939 or Older 7.2

Types of Homes

TYPE OF New Bern HOMES
Single-Family 59.9
Townhomes 5.1
Small Apt. Buildings 9.3
Apt. Complexes 20.3
Mobile Homes 5.4
Other 0.0

Home Size

SIZE OF New Bern HOMES
No Bedroom 2.14
1 Bedroom 8.74
2 Bedrooms 30.51
3 Bedrooms 46.76
4 Bedrooms 10.65
5 or more bedrooms 1.20