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
With a population of 1,726, 814 total housing units (homes and apartments), and a median house value of $134,180, house prices in Sparta are solidly below the national average.
Single-family detached homes are the single most common housing type in Sparta, accounting for 70.42% of the town's housing units. Other types of housing that are prevalent in Sparta include large apartment complexes or high rise apartments ( 14.29%), duplexes, homes converted to apartments or other small apartment buildings ( 11.57%), and a few mobile homes or trailers ( 3.02%).
The most prevalent building size and type in Sparta are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 47.48% owning and 52.52% renting.
There is a lot of housing in Sparta 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 Sparta built between 1940-1969 ( 36.32%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.65%).
Vacant housing appears to be an issue in Sparta. Fully 18.11% of the housing stock is classified as vacant. Left unchecked, vacant Sparta homes and apartments can be a drag on the real estate market, holding Sparta 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.
Sparta's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Sparta during the period has been just -0.83%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Sparta's appreciation rate, at 3.17%, has been at or slightly above the national average. In the latest quarter, Sparta's appreciation rate has been -0.54%, which annualizes to a rate of -2.13%.
Notably, Sparta's appreciation rate in the latest quarter is one of the lowest in America.
Relative to North Carolina, our data show that Sparta's latest annual appreciation rate is higher than 50% of the other cities and towns in North Carolina.
|$773,001 - $1,030,000||0.0|
|$515,001 - $773,000||1.1|
|$412,001 - $515,000||1.4|
|$309,001 - $412,000||3.9|
|$206,001 - $309,000||14.2|
|$103,001 - $206,000||42.0|
|$52,001 - $103,000||21.1|
|$0 - $52,000||15.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Sparta HOMES|
|2000 or Newer||7.6|
|1970 - 1999||55.2|
|1940 - 1969||36.3|
|1939 or Older||0.8|
|TYPE OF Sparta HOMES|
|Small Apt. Buildings||11.6|
|SIZE OF Sparta HOMES|
|5 or more bedrooms||4.02|