Vilas, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Vilas Neighborhoods Since 2000




Vilas, 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

Vilas Housing Market Information

With 6,606 people, 1,408 houses or apartments, and a median cost of homes of $171,990, Vilas real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Vilas, accounting for 74.05% of the town's housing units. Other types of housing that are prevalent in Vilas include mobile homes or trailers ( 19.50%), large apartment complexes or high rise apartments ( 4.22%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.38%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Vilas. Owner-occupied housing accounts for 76.78% of Vilas's homes, and 64.04% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Vilas 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 Vilas built between 2000 and later ( 25.89%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.52%). There's also some housing in Vilas built before 1939 ( 10.66%).

Vacant housing appears to be an issue in Vilas. Fully 22.87% of the housing stock is classified as vacant. Left unchecked, vacant Vilas homes and apartments can be a drag on the real estate market, holding Vilas 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.

Vilas Home Appreciation Rates

Real estate appreciation rates in Vilas's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.77% during the period.

Over the last year, Vilas appreciation rates have trailed the rest of the nation. In the last twelve months, Vilas's appreciation rate has been 1.23%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Vilas were at -0.54%, which equates to an annual appreciation rate of -2.13%.

Notably, Vilas's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$171,990

Vilas, NC HOME PRICES

Value Range
> $1,056,000 2.4
$792,001 - $1,056,000 2.1
$528,001 - $792,000 2.6
$422,001 - $528,000 3.1
$317,001 - $422,000 13.0
$211,001 - $317,000 19.2
$105,001 - $211,000 31.0
$53,001 - $105,000 13.1
$0 - $53,000 13.6

High for NC
Average for Nation

Value Relative to Nation Value Relative to State
40.8883159498418 33.3938294010889

Number Of Homes And Apartments:
1,408

Vilas 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
38.94% 1.92% 8 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$933 / per month

Homeownership Rate

Homeownership
Owners 76.78
Renters 23.22
Vacant 22.87

Housing Market Details

 

Age of Homes

AGE OF Vilas HOMES
2000 or Newer 25.9
1970 - 1999 43.9
1940 - 1969 19.5
1939 or Older 10.7

Types of Homes

TYPE OF Vilas HOMES
Single-Family 74.1
Townhomes 0.9
Small Apt. Buildings 1.4
Apt. Complexes 4.2
Mobile Homes 19.5
Other 0.0

Home Size

SIZE OF Vilas HOMES
No Bedroom 2.17
1 Bedroom 4.59
2 Bedrooms 27.62
3 Bedrooms 49.20
4 Bedrooms 14.84
5 or more bedrooms 1.57