Sparta, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Sparta, 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

Sparta Housing Market Information

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 Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$134,180

Sparta, NC HOME PRICES

Value Range
> $1,030,000 0.5
$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

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
57.5471698113208 51.9056261343013

Number Of Homes And Apartments:
814

Sparta 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
20.33% 1.08% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$758 / per month

Homeownership Rate

Homeownership
Owners 47.48
Renters 52.52
Vacant 18.11

Housing Market Details

 

Age of Homes

AGE OF Sparta HOMES
2000 or Newer 7.6
1970 - 1999 55.2
1940 - 1969 36.3
1939 or Older 0.8

Types of Homes

TYPE OF Sparta HOMES
Single-Family 70.4
Townhomes 0.7
Small Apt. Buildings 11.6
Apt. Complexes 14.3
Mobile Homes 3.0
Other 0.0

Home Size

SIZE OF Sparta HOMES
No Bedroom 2.41
1 Bedroom 9.76
2 Bedrooms 31.39
3 Bedrooms 44.87
4 Bedrooms 7.55
5 or more bedrooms 4.02

Popular Neighborhoods in Sparta

Zip Codes in Sparta, NC