Siler City, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Siler City Neighborhoods Since 2000




Siler City, 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

Siler City Housing Market Information

With a population of 8,396, 2,705 total housing units (homes and apartments), and a median house value of $111,416, house prices in Siler City are solidly below the national average.

Single-family detached homes are the single most common housing type in Siler City, accounting for 63.96% of the town's housing units. Other types of housing that are prevalent in Siler City include mobile homes or trailers ( 14.82%), large apartment complexes or high rise apartments ( 14.06%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.75%).

The most prevalent building size and type in Siler City are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 48.21% owning and 51.79% 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. Siler City's housing was primarily built during this period, from the '40s through the '60s. A full 38.25% of the town's housing hails from this era. Other housing ages represented in Siler City include homes built between 1970-1999 ( 32.40%) and housing constructed between 2000 and later ( 18.96%). There's also some housing in Siler City built before 1939 ( 10.39%).

Vacant housing appears to be an issue in Siler City. Fully 10.49% of the housing stock is classified as vacant. Left unchecked, vacant Siler City homes and apartments can be a drag on the real estate market, holding Siler City 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.

Siler City Home Appreciation Rates

Real estate appreciation rates in Siler City's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.38% during the period.

NeighborhoodScout's data show that during the latest twelve months, Siler City's appreciation rate, at 5.30%, has been at or slightly above the national average. In the latest quarter, Siler City's appreciation rate has been 0.02%, which annualizes to a rate of 0.08%.

Relative to North Carolina, our data show that Siler City's latest annual appreciation rate is higher than 70% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$111,416

Siler City, NC HOME PRICES

Value Range
> $1,043,000 0.8
$782,001 - $1,043,000 0.0
$521,001 - $782,000 0.6
$417,001 - $521,000 0.0
$313,001 - $417,000 2.1
$209,001 - $313,000 7.3
$104,001 - $209,000 45.0
$52,001 - $104,000 27.3
$0 - $52,000 16.8

Low for NC
Low for Nation

Value Relative to Nation Value Relative to State
70.5349818352279 70.5989110707804

Number Of Homes And Apartments:
2,705

Siler City 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
15.10% 0.82% 3 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$881 / per month

Homeownership Rate

Homeownership
Owners 48.21
Renters 51.79
Vacant 10.49

Housing Market Details

 

Age of Homes

AGE OF Siler City HOMES
2000 or Newer 19.0
1970 - 1999 32.4
1940 - 1969 38.3
1939 or Older 10.4

Types of Homes

TYPE OF Siler City HOMES
Single-Family 64.0
Townhomes 0.4
Small Apt. Buildings 6.8
Apt. Complexes 14.1
Mobile Homes 14.8
Other 0.0

Home Size

SIZE OF Siler City HOMES
No Bedroom 1.99
1 Bedroom 9.17
2 Bedrooms 30.51
3 Bedrooms 49.34
4 Bedrooms 6.95
5 or more bedrooms 2.05