Surf City, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Surf City Neighborhoods Since 2000




Surf 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

Surf City Housing Market Information

With 2,193 people, 1,103 houses or apartments, and a median cost of homes of $352,896, Surf City house prices are not only among the most expensive in North Carolina, Surf City real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Surf City, accounting for 63.33% of the town's housing units. Other types of housing that are prevalent in Surf City include mobile homes or trailers ( 14.05%), large apartment complexes or high rise apartments ( 9.96%), and a few row houses and other attached homes ( 8.19%).

The most prevalent building size and type in Surf City are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 64.01% owning and 35.99% renting.

There is a lot of housing in Surf City 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 Surf City built between 2000 and later ( 40.24%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.12%).

A decent proportion of the Surf City housing stock is seasonally occupied. That is, homes and condos in Surf City are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Surf City housing market speaks to its popularity as a vacation location of choice.

Surf City Home Appreciation Rates

Homes have actually lost value in Surf City over the last then years, as home values have seen a decline of 20.63% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Surf City home appreciation rates at 2.47%, which equates to an annual appreciation rate of 10.23%.

NeighborhoodScout's data show that during the latest twelve months, Surf City's appreciation rate, at 4.33%, has been at or slightly above the national average. In the latest quarter, Surf City's appreciation rate has been 2.47%, which annualizes to a rate of 10.23%.

Importantly, this makes Surf City one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to North Carolina, our data show that Surf 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:
$352,896

Surf City, NC HOME PRICES

Value Range
> $1,095,000 1.1
$821,001 - $1,095,000 1.5
$548,001 - $821,000 14.1
$438,001 - $548,000 13.6
$329,001 - $438,000 18.1
$219,001 - $329,000 25.6
$110,001 - $219,000 16.1
$55,001 - $110,000 5.9
$0 - $55,000 4.0

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
11.9711707488574 4.71869328493648

Number Of Homes And Apartments:
1,103

Surf 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
88.93% 3.76% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,113 / per month

Homeownership Rate

Homeownership
Owners 64.01
Renters 35.99
Vacant 67.97

Housing Market Details

 

Age of Homes

AGE OF Surf City HOMES
2000 or Newer 40.2
1970 - 1999 46.5
1940 - 1969 13.1
1939 or Older 0.1

Types of Homes

TYPE OF Surf City HOMES
Single-Family 63.3
Townhomes 8.2
Small Apt. Buildings 4.5
Apt. Complexes 10.0
Mobile Homes 14.1
Other 0.0

Home Size

SIZE OF Surf City HOMES
No Bedroom 3.54
1 Bedroom 3.34
2 Bedrooms 20.67
3 Bedrooms 43.00
4 Bedrooms 23.00
5 or more bedrooms 6.45

Popular Neighborhoods in Surf City

Zip Codes in Surf City, NC