Rockingham, NC Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Rockingham, NC Housing Market Trends

With a population of 8,659, 3,602 total housing units (homes and apartments), and a median house value of $128,468, house prices in Rockingham are solidly below the national average.

Single-family detached homes are the single most common housing type in Rockingham, accounting for 68.27% of the city's housing units. Other types of housing that are prevalent in Rockingham include duplexes, homes converted to apartments or other small apartment buildings ( 13.52%), large apartment complexes or high rise apartments ( 12.90%), and a few mobile homes or trailers ( 4.88%).

The most prevalent building size and type in Rockingham are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.49% owning and 52.51% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Rockingham's housing was primarily built during this period, from the '40s through the '60s. A full 40.55% of the city's housing hails from this era. Other housing ages represented in Rockingham include homes built between 1970-1999 ( 40.19%) and housing constructed between 2000 and later ( 10.88%). There's also some housing in Rockingham built before 1939 ( 8.37%).

Vacant housing appears to be an issue in Rockingham. Fully 14.58% of the housing stock is classified as vacant. Left unchecked, vacant Rockingham homes and apartments can be a drag on the real estate market, holding Rockingham 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.

Rockingham Home Appreciation Rates

Real estate appreciation rates in Rockingham's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.04% during the period.

Appreciation rates are so strong in Rockingham that despite a nationwide downturn in the housing market, Rockingham real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Rockingham appreciation rates continue to be some of the highest in America, at 6.73%, which is higher than appreciation rates in 82.49% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Rockingham. Rockingham appreciation rates in the latest quarter were at 2.92%, which equates to an annual appreciation rate of 12.20%.

Importantly, this makes Rockingham one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to North Carolina, our data show that Rockingham's latest annual appreciation rate is higher than 80% 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 Rockingham differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rockingham - 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 Rockingham real estate investment or home purchase decisions.

Average Home Values

 
info

Median Home Value:
$128,468

Rockingham, NC HOME PRICES

> $1,229,000
0.4%
0.4%
$922,001 - $1,229,000
0.1%
0.1%
$614,001 - $922,000
1.8%
1.8%
$491,001 - $614,000
0.7%
0.7%
$368,001 - $491,000
4.7%
4.7%
$246,001 - $368,000
6.2%
6.2%
$123,001 - $246,000
30.2%
30.2%
$61,001 - $123,000
38.0%
38.0%
$0 - $61,000
17.9%
17.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Low for NC

Value Relative To Nation

Number Of Homes And Apartments:
3,602

Rockingham Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
63.55% 2.37%
7
4
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$865 / per month

Homeownership Rate

Owners
47.5%
47.5%
Renters
52.5%
52.5%
Vacant
14.6%
14.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
10.9%
10.9%
1970 - 1999
40.2%
40.2%
1940 - 1969
40.6%
40.6%
1939 or Older
8.4%
8.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
68.3%
68.3%
Townhomes
0.4%
0.4%
Small Apt. Buildings
13.5%
13.5%
Apt. Complexes
12.9%
12.9%
Mobile Homes
4.9%
4.9%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
6.5%
6.5%
1 Bedroom
7.4%
7.4%
2 Bedrooms
30.7%
30.7%
3 Bedrooms
47.2%
47.2%
4 Bedrooms
6.0%
6.0%
5 or more bedrooms
2.3%
2.3%
0.0% 100.0%
% OF HOMES