Waynesville, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Waynesville, 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

Waynesville Housing Market Information

With a population of 9,809, 4,879 total housing units (homes and apartments), and a median house value of $170,984, Waynesville 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 Waynesville, accounting for 62.24% of the town's housing units. Other types of housing that are prevalent in Waynesville include mobile homes or trailers ( 12.21%), large apartment complexes or high rise apartments ( 12.05%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.82%).

The most prevalent building size and type in Waynesville are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 55.06% owning and 44.94% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Waynesville's housing was primarily built during this period, from the '40s through the '60s. A full 39.19% of the town's housing hails from this era. Other housing ages represented in Waynesville include homes built between 1970-1999 ( 33.10%) and housing constructed between 2000 and later ( 15.10%). There's also some housing in Waynesville built before 1939 ( 12.61%).

Vacant housing appears to be an issue in Waynesville. Fully 19.38% of the housing stock is classified as vacant. Left unchecked, vacant Waynesville homes and apartments can be a drag on the real estate market, holding Waynesville 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.

Waynesville Home Appreciation Rates

Waynesville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Waynesville during the period has been just -1.09%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Waynesville's appreciation rate, at 4.08%, has been at or slightly above the national average. In the latest quarter, Waynesville's appreciation rate has been 1.50%, which annualizes to a rate of 6.15%.

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

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Waynesville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Waynesville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Waynesville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$170,984

Waynesville, NC HOME PRICES

Value Range
> $1,091,000 1.4
$818,001 - $1,091,000 1.0
$545,001 - $818,000 2.9
$436,001 - $545,000 4.0
$327,001 - $436,000 8.2
$218,001 - $327,000 15.8
$109,001 - $218,000 38.9
$55,001 - $109,000 16.4
$0 - $55,000 11.4

High for NC
Average for Nation

Value Relative to Nation Value Relative to State
41.2926286183054 34.4827586206897

Number Of Homes And Apartments:
4,879

Waynesville 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
32.97% 1.67% 7 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$939 / per month

Homeownership Rate

Homeownership
Owners 55.06
Renters 44.94
Vacant 19.38

Housing Market Details

 

Age of Homes

AGE OF Waynesville HOMES
2000 or Newer 15.1
1970 - 1999 33.1
1940 - 1969 39.2
1939 or Older 12.6

Types of Homes

TYPE OF Waynesville HOMES
Single-Family 62.2
Townhomes 2.7
Small Apt. Buildings 10.8
Apt. Complexes 12.0
Mobile Homes 12.2
Other 0.0

Home Size

SIZE OF Waynesville HOMES
No Bedroom 2.99
1 Bedroom 11.02
2 Bedrooms 30.52
3 Bedrooms 41.99
4 Bedrooms 11.05
5 or more bedrooms 2.43