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 3,433 people, 1,274 houses or apartments, and a median cost of homes of $71,012, house prices in Red Springs 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 Red Springs, accounting for 79.41% of the town's housing units. Other types of housing that are prevalent in Red Springs include large apartment complexes or high rise apartments ( 13.12%), duplexes, homes converted to apartments or other small apartment buildings ( 7.48%).
People in Red Springs primarily live in small (one, two or no bedroom) single-family detached homes. Red Springs has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Red Springs 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 Red Springs built between 1940-1969 ( 40.53%). A lesser amount of the housing stock also hails from before 1939 ( 11.28%). There's also some housing in Red Springs built between 2000 and later ( 5.46%).
Vacant housing appears to be an issue in Red Springs. Fully 24.39% of the housing stock is classified as vacant. Left unchecked, vacant Red Springs homes and apartments can be a drag on the real estate market, holding Red Springs 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 Red Springs's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.34% during the period.
Over the last year, Red Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Red Springs's appreciation rate has been 3.12%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Red Springs were at -0.54%, which equates to an annual appreciation rate of -2.13%.
Notably, Red Springs's appreciation rate in the latest quarter is one of the lowest in America.
Relative to North Carolina, our data show that Red Springs's latest annual appreciation rate is higher than 50% of the other cities and towns in North Carolina.
|$794,001 - $1,059,000||0.0|
|$529,001 - $794,000||0.0|
|$423,001 - $529,000||0.0|
|$318,001 - $423,000||1.0|
|$212,001 - $318,000||6.5|
|$106,001 - $212,000||19.2|
|$53,001 - $106,000||35.5|
|$0 - $53,000||35.9|
|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 Red Springs HOMES|
|2000 or Newer||5.5|
|1970 - 1999||42.7|
|1940 - 1969||40.5|
|1939 or Older||11.3|
|TYPE OF Red Springs HOMES|
|Small Apt. Buildings||7.5|
|SIZE OF Red Springs HOMES|
|5 or more bedrooms||0.83|