Anderson, SC Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Anderson, SC Housing Market Trends

With a population of 27,676, 11,412 total housing units (homes and apartments), and a median house value of $146,353, house prices in Anderson are solidly below the national average.

Single-family detached homes are the single most common housing type in Anderson, accounting for 65.95% of the city's housing units. Other types of housing that are prevalent in Anderson include large apartment complexes or high rise apartments ( 21.16%), duplexes, homes converted to apartments or other small apartment buildings ( 8.21%), and a few row houses and other attached homes ( 3.29%).

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

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. Anderson's housing was primarily built during this period, from the '40s through the '60s. A full 39.52% of the city's housing hails from this era. Other housing ages represented in Anderson include homes built between 1970-1999 ( 37.33%) and housing constructed between 2000 and later ( 13.51%). There's also some housing in Anderson built before 1939 ( 9.64%).

Vacant housing appears to be an issue in Anderson. Fully 11.51% of the housing stock is classified as vacant. Left unchecked, vacant Anderson homes and apartments can be a drag on the real estate market, holding Anderson 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.

Anderson Home Appreciation Rates

Real estate appreciation rates in Anderson's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.29% during the period.

NeighborhoodScout's data show that during the latest twelve months, Anderson's appreciation rate, at 5.29%, has been at or slightly above the national average. In the latest quarter, Anderson's appreciation rate has been 1.14%, which annualizes to a rate of 4.62%.

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

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Anderson differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Anderson - 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 Anderson real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$146,353

Anderson, SC HOME PRICES

> $1,204,000
0.0%
0.0%
$903,001 - $1,204,000
0.3%
0.3%
$602,001 - $903,000
0.9%
0.9%
$481,001 - $602,000
2.3%
2.3%
$361,001 - $481,000
4.0%
4.0%
$241,001 - $361,000
12.6%
12.6%
$121,001 - $241,000
45.5%
45.5%
$60,001 - $121,000
20.1%
20.1%
$0 - $60,000
14.3%
14.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for SC

Value Relative To Nation

Number Of Homes And Apartments:
11,412

Anderson Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
47.60% 1.87%
3
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,062 / per month

Homeownership Rate

Owners
44.1%
44.1%
Renters
55.9%
55.9%
Vacant
11.5%
11.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
13.5%
13.5%
1970 - 1999
37.3%
37.3%
1940 - 1969
39.5%
39.5%
1939 or Older
9.6%
9.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
66.0%
66.0%
Townhomes
3.3%
3.3%
Small Apt. Buildings
8.2%
8.2%
Apt. Complexes
21.2%
21.2%
Mobile Homes
1.4%
1.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.0%
3.0%
1 Bedroom
12.0%
12.0%
2 Bedrooms
36.2%
36.2%
3 Bedrooms
37.6%
37.6%
4 Bedrooms
9.2%
9.2%
5 or more bedrooms
2.0%
2.0%
0.0% 100.0%
% OF HOMES