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 2,134 people, 922 houses or apartments, and a median cost of homes of $113,826, house prices in Spruce Pine are solidly below the national average.
Single-family detached homes are the single most common housing type in Spruce Pine, accounting for 66.29% of the town's housing units. Other types of housing that are prevalent in Spruce Pine include duplexes, homes converted to apartments or other small apartment buildings ( 11.58%), mobile homes or trailers ( 10.45%), and a few large apartment complexes or high rise apartments ( 10.45%).
The most prevalent building size and type in Spruce Pine are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 53.72% owning and 46.28% renting.
There is a lot of housing in Spruce Pine 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 Spruce Pine built between 1940-1969 ( 41.81%). A lesser amount of the housing stock also hails from before 1939 ( 8.85%). There's also some housing in Spruce Pine built between 2000 and later ( 6.87%).
Vacant housing appears to be an issue in Spruce Pine. Fully 13.18% of the housing stock is classified as vacant. Left unchecked, vacant Spruce Pine homes and apartments can be a drag on the real estate market, holding Spruce Pine 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 Spruce Pine have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.31%, which ranks in the top 50% nationwide. This equates to an annual average Spruce Pine house appreciation rate of 0.13%.
Over the last year, Spruce Pine appreciation rates have trailed the rest of the nation. In the last twelve months, Spruce Pine's appreciation rate has been 2.87%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Spruce Pine were at -0.54%, which equates to an annual appreciation rate of -2.13%.
Notably, Spruce Pine's appreciation rate in the latest quarter is one of the lowest in America.
Relative to North Carolina, our data show that Spruce Pine's latest annual appreciation rate is higher than 50% of the other cities and towns in North Carolina.
|$773,001 - $1,031,000||0.0|
|$516,001 - $773,000||2.3|
|$413,001 - $516,000||1.6|
|$309,001 - $413,000||7.0|
|$206,001 - $309,000||17.3|
|$103,001 - $206,000||35.4|
|$52,001 - $103,000||22.4|
|$0 - $52,000||13.6|
|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 Spruce Pine HOMES|
|2000 or Newer||6.9|
|1970 - 1999||42.5|
|1940 - 1969||41.8|
|1939 or Older||8.9|
|TYPE OF Spruce Pine HOMES|
|Small Apt. Buildings||11.6|
|SIZE OF Spruce Pine HOMES|
|5 or more bedrooms||2.45|