Walnut Cove, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Walnut Cove Neighborhoods Since 2000




Walnut Cove, 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

Walnut Cove Housing Market Information

With 1,402 people, 662 houses or apartments, and a median cost of homes of $117,169, house prices in Walnut Cove are solidly below the national average.

Single-family detached homes are the single most common housing type in Walnut Cove, accounting for 67.31% of the town's housing units. Other types of housing that are prevalent in Walnut Cove include large apartment complexes or high rise apartments ( 15.06%), duplexes, homes converted to apartments or other small apartment buildings ( 10.17%), and a few mobile homes or trailers ( 4.38%).

The most prevalent building size and type in Walnut Cove are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 44.97% owning and 55.03% renting.

There is a lot of housing in Walnut Cove 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 Walnut Cove built between 1940-1969 ( 27.67%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.63%). There's also some housing in Walnut Cove built before 1939 ( 9.40%).

Vacant housing appears to be an issue in Walnut Cove. Fully 14.80% of the housing stock is classified as vacant. Left unchecked, vacant Walnut Cove homes and apartments can be a drag on the real estate market, holding Walnut Cove 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.

Walnut Cove Home Appreciation Rates

Walnut Cove's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Walnut Cove during the period has been just -0.83%, which is lower than 70% of US communities.

Over the last year, Walnut Cove appreciation rates have trailed the rest of the nation. In the last twelve months, Walnut Cove's appreciation rate has been 1.64%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Walnut Cove were at -1.84%, which equates to an annual appreciation rate of -7.17%.

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

Relative to North Carolina, our data show that Walnut Cove's latest annual appreciation rate is lower than 60% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$117,169

Walnut Cove, NC HOME PRICES

Value Range
> $1,043,000 0.0
$782,001 - $1,043,000 0.0
$522,001 - $782,000 0.0
$417,001 - $522,000 2.1
$313,001 - $417,000 2.9
$209,001 - $313,000 6.6
$104,001 - $209,000 44.3
$52,001 - $104,000 30.3
$0 - $52,000 13.9

Low for NC
Low for Nation

Value Relative to Nation Value Relative to State
67.104183757178 65.1542649727768

Number Of Homes And Apartments:
662

Walnut Cove 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
5.90% 0.33% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$776 / per month

Homeownership Rate

Homeownership
Owners 44.97
Renters 55.03
Vacant 14.80

Housing Market Details

 

Age of Homes

AGE OF Walnut Cove HOMES
2000 or Newer 17.6
1970 - 1999 45.3
1940 - 1969 27.7
1939 or Older 9.4

Types of Homes

TYPE OF Walnut Cove HOMES
Single-Family 67.3
Townhomes 3.1
Small Apt. Buildings 10.2
Apt. Complexes 15.1
Mobile Homes 4.4
Other 0.0

Home Size

SIZE OF Walnut Cove HOMES
No Bedroom 1.03
1 Bedroom 7.59
2 Bedrooms 39.51
3 Bedrooms 42.86
4 Bedrooms 8.37
5 or more bedrooms 0.64

Popular Neighborhoods in Walnut Cove

Zip Codes in Walnut Cove, NC