Red Springs, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Red Springs, 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

Red Springs Housing Market Information

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.

Red Springs Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$71,012

Red Springs, NC HOME PRICES

Value Range
> $1,059,000 1.8
$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

Very Low for NC
Very Low for Nation

Value Relative to Nation Value Relative to State
94.8142505566624 97.8221415607985

Number Of Homes And Apartments:
1,274

Red Springs 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
34.94% 1.75% 7 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$666 / per month

Homeownership Rate

Homeownership
Owners 38.16
Renters 61.84
Vacant 24.39

Housing Market Details

 

Age of Homes

AGE OF Red Springs HOMES
2000 or Newer 5.5
1970 - 1999 42.7
1940 - 1969 40.5
1939 or Older 11.3

Types of Homes

TYPE OF Red Springs HOMES
Single-Family 79.4
Townhomes 0.0
Small Apt. Buildings 7.5
Apt. Complexes 13.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Red Springs HOMES
No Bedroom 0.77
1 Bedroom 15.19
2 Bedrooms 39.76
3 Bedrooms 29.50
4 Bedrooms 13.95
5 or more bedrooms 0.83

Popular Neighborhoods in Red Springs

Zip Codes in Red Springs, NC