Winston-Salem NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Winston-Salem, 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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Winston-Salem Housing Market Information

With 246,328 people, 94,937 houses or apartments, and a median cost of homes of $162,496, house prices in Winston-Salem are solidly below the national average.

Single-family detached homes are the single most common housing type in Winston-Salem, accounting for 61.07% of the city's housing units. Other types of housing that are prevalent in Winston-Salem include large apartment complexes or high rise apartments ( 25.26%), duplexes, homes converted to apartments or other small apartment buildings ( 6.62%), and a few row houses and other attached homes ( 4.60%).

The most prevalent building size and type in Winston-Salem are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.33% owning and 48.67% renting.

There is a lot of housing in Winston-Salem 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 Winston-Salem built between 1940-1969 ( 31.51%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.37%). There's also some housing in Winston-Salem built before 1939 ( 7.84%).

Vacant housing appears to be an issue in Winston-Salem. Fully 11.37% of the housing stock is classified as vacant. Left unchecked, vacant Winston-Salem homes and apartments can be a drag on the real estate market, holding Winston-Salem 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.

Winston-Salem Home Appreciation Rates

Real estate appreciation rates in Winston-Salem's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.01% during the period.

Appreciation rates are so strong in Winston-Salem that despite a nationwide downturn in the housing market, Winston-Salem real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Winston-Salem appreciation rates continue to be some of the highest in America, at 6.54%, which is higher than appreciation rates in 86.60% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Winston-Salem. Winston-Salem appreciation rates in the latest quarter were at -0.22%, which equates to an annual appreciation rate of -0.89%.

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

Relative to North Carolina, our data show that Winston-Salem's latest annual appreciation rate is higher than 70% 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 city. Individual neighborhoods within Winston-Salem differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Winston-Salem - 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 Winston-Salem real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$162,496

Winston-Salem, NC HOME PRICES

Value Range
> $1,219,000 0.7
$914,001 - $1,219,000 0.9
$609,001 - $914,000 2.8
$488,001 - $609,000 2.3
$366,001 - $488,000 5.2
$244,001 - $366,000 10.7
$122,001 - $244,000 43.2
$61,001 - $122,000 24.5
$0 - $61,000 9.7

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
55.5503649635037 51.4492753623188

Number Of Homes And Apartments:
94,937

Winston-Salem Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
37.25% 1.56%
3
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$973 / per month

Homeownership Rate

Homeownership
Owners 51.33
Renters 48.67
Vacant 11.37

Housing Market Details

 

Age of Homes

AGE OF Winston-Salem HOMES
2000 or Newer 18.4
1970 - 1999 42.3
1940 - 1969 31.5
1939 or Older 7.8

Types of Homes

TYPE OF Winston-Salem HOMES
Single-Family 61.1
Townhomes 4.6
Small Apt. Buildings 6.6
Apt. Complexes 25.3
Mobile Homes 2.4
Other 0.0

Home Size

SIZE OF Winston-Salem HOMES
No Bedroom 1.22
1 Bedroom 12.33
2 Bedrooms 29.67
3 Bedrooms 40.30
4 Bedrooms 13.32
5 or more bedrooms 3.15