Roanoke Rapids, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Roanoke Rapids, 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

Roanoke Rapids Housing Market Information

With a population of 15,345, 6,147 total housing units (homes and apartments), and a median house value of $119,522, house prices in Roanoke Rapids are solidly below the national average.

Single-family detached homes are the single most common housing type in Roanoke Rapids, accounting for 71.88% of the city's housing units. Other types of housing that are prevalent in Roanoke Rapids include large apartment complexes or high rise apartments ( 10.44%), duplexes, homes converted to apartments or other small apartment buildings ( 10.26%), and a few mobile homes or trailers ( 4.69%).

The most prevalent building size and type in Roanoke Rapids are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.35% owning and 48.65% renting.

There is a lot of housing in Roanoke Rapids 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 Roanoke Rapids built between 1940-1969 ( 39.25%). A lesser amount of the housing stock also hails from before 1939 ( 13.65%). There's also some housing in Roanoke Rapids built between 2000 and later ( 7.55%).

Roanoke Rapids Home Appreciation Rates

Roanoke Rapids's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Roanoke Rapids during the period has been just -0.90%, which is lower than 70% of US communities.

Over the last year, Roanoke Rapids appreciation rates have trailed the rest of the nation. In the last twelve months, Roanoke Rapids's appreciation rate has been 2.43%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Roanoke Rapids were at -0.54%, which equates to an annual appreciation rate of -2.13%.

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

Relative to North Carolina, our data show that Roanoke Rapids'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 Roanoke Rapids differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Roanoke Rapids - 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 Roanoke Rapids real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$119,522

Roanoke Rapids, NC HOME PRICES

Value Range
> $1,022,000 0.0
$767,001 - $1,022,000 0.0
$511,001 - $767,000 0.2
$409,001 - $511,000 1.5
$306,001 - $409,000 2.9
$204,001 - $306,000 10.3
$102,001 - $204,000 40.5
$51,001 - $102,000 32.1
$0 - $51,000 12.4

Low for NC
Low for Nation

Value Relative to Nation Value Relative to State
65.6275635767022 61.8874773139746

Number Of Homes And Apartments:
6,147

Roanoke Rapids 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
21.50% 1.14% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$911 / per month

Homeownership Rate

Homeownership
Owners 51.35
Renters 48.65
Vacant 9.88

Housing Market Details

 

Age of Homes

AGE OF Roanoke Rapids HOMES
2000 or Newer 7.6
1970 - 1999 39.6
1940 - 1969 39.2
1939 or Older 13.6

Types of Homes

TYPE OF Roanoke Rapids HOMES
Single-Family 71.9
Townhomes 2.6
Small Apt. Buildings 10.3
Apt. Complexes 10.4
Mobile Homes 4.7
Other 0.2

Home Size

SIZE OF Roanoke Rapids HOMES
No Bedroom 0.57
1 Bedroom 10.23
2 Bedrooms 25.80
3 Bedrooms 47.47
4 Bedrooms 12.23
5 or more bedrooms 3.69