Woodfin, 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 Q3 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 about Scout's Real Estate Data

Woodfin Housing Market Information

With 6,717 people, 2,433 houses or apartments, and a median cost of homes of $231,674, Woodfin real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Woodfin, accounting for 49.53% of the town's housing units. Other types of housing that are prevalent in Woodfin include large apartment complexes or high rise apartments ( 20.61%), mobile homes or trailers ( 16.68%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.92%).

People in Woodfin primarily live in small (one, two or no bedroom) single-family detached homes. Woodfin has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Woodfin 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 Woodfin built between 2000 and later ( 32.17%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.34%). There's also some housing in Woodfin built before 1939 ( 12.58%).

Vacant housing appears to be an issue in Woodfin. Fully 17.53% of the housing stock is classified as vacant. Left unchecked, vacant Woodfin homes and apartments can be a drag on the real estate market, holding Woodfin 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.

Woodfin Home Appreciation Rates

Appreciation rates for homes in Woodfin have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 46.57%, which ranks in the top 30% nationwide. This equates to an annual average Woodfin house appreciation rate of 3.90%.

NeighborhoodScout's data show that during the latest twelve months, Woodfin's appreciation rate, at 4.78%, has been at or slightly above the national average. In the latest quarter, Woodfin's appreciation rate has been 0.71%, which annualizes to a rate of 2.89%.

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

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

Average Home Values

 
info

Median Home Value:
$231,674

Woodfin, NC HOME PRICES

> $1,257,000
1.2%
1.2%
$943,001 - $1,257,000
2.1%
2.1%
$629,001 - $943,000
7.5%
7.5%
$503,001 - $629,000
6.0%
6.0%
$377,001 - $503,000
16.8%
16.8%
$251,001 - $377,000
24.4%
24.4%
$126,001 - $251,000
27.2%
27.2%
$63,001 - $126,000
9.5%
9.5%
$0 - $63,000
5.3%
5.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for NC

Value Relative To Nation

Number Of Homes And Apartments:
2,433

Woodfin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
128.28% 4.06%
10
10
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,258 / per month

Homeownership Rate

Owners
45.6%
45.6%
Renters
54.4%
54.4%
Vacant
17.5%
17.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
32.2%
32.2%
1970 - 1999
32.9%
32.9%
1940 - 1969
22.3%
22.3%
1939 or Older
12.6%
12.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
49.5%
49.5%
Townhomes
2.3%
2.3%
Small Apt. Buildings
10.9%
10.9%
Apt. Complexes
20.6%
20.6%
Mobile Homes
16.7%
16.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.9%
3.9%
1 Bedroom
7.7%
7.7%
2 Bedrooms
40.9%
40.9%
3 Bedrooms
34.2%
34.2%
4 Bedrooms
11.2%
11.2%
5 or more bedrooms
2.0%
2.0%
0.0% 100.0%
% OF HOMES