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 about Scout's Real Estate Data
With 1,476 people, 412 houses or apartments, and a median cost of homes of $212,723, house prices in Rocky Point are solidly below the national average.
Single-family detached homes are the single most common housing type in Rocky Point, accounting for 55.42% of the town's housing units. Other types of housing that are prevalent in Rocky Point include mobile homes or trailers ( 37.01%), large apartment complexes or high rise apartments ( 7.57%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Rocky Point. Owner-occupied housing accounts for 72.57% of Rocky Point's homes, and 68.30% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Rocky Point 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 Rocky Point built between 1940-1969 ( 21.68%). A lesser amount of the housing stock also hails from before 1939 ( 14.31%). There's also some housing in Rocky Point built between 2000 and later ( 10.63%).
Vacant housing appears to be an issue in Rocky Point. Fully 15.75% of the housing stock is classified as vacant. Left unchecked, vacant Rocky Point homes and apartments can be a drag on the real estate market, holding Rocky Point 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.
Appreciation rates for homes in Rocky Point have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 89.29%, which ranks in the top 50% nationwide. This equates to an annual average Rocky Point house appreciation rate of 6.59%.
Appreciation rates are so strong in Rocky Point that despite a nationwide downturn in the housing market, Rocky Point real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Rocky Point appreciation rates continue to be some of the highest in America, at 7.69%, which is higher than appreciation rates in 80.02% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Rocky Point. Rocky Point appreciation rates in the latest quarter were at -0.72%, which equates to an annual appreciation rate of -2.84%.
Notably, Rocky Point's appreciation rate in the latest quarter is one of the lowest in America.
Relative to North Carolina, our data show that Rocky Point's latest annual appreciation rate is higher than 70% of the other cities and towns in North Carolina.
$212,723
for North carolina
for nation
412
$1,252 / per month