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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 5,345 people, 1,886 houses or apartments, and a median cost of homes of $312,710, Central real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in Central, accounting for 55.97% of the town's housing units. Other types of housing that are prevalent in Central include single-family detached homes ( 27.71%), duplexes, homes converted to apartments or other small apartment buildings ( 8.61%), and a few row houses and other attached homes ( 4.60%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
Renters dominate Central's housing market, and most live in three of four bedroom dwellings.
There is a lot of housing in Central 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 Central built between 2000 and later ( 32.45%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.17%). There's also some housing in Central built before 1939 ( 8.84%).
Vacant housing appears to be an issue in Central. Fully 14.04% of the housing stock is classified as vacant. Left unchecked, vacant Central homes and apartments can be a drag on the real estate market, holding Central 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.
Appreciation rates for homes in Central have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 102.72%, which ranks in the top 30% nationwide. This equates to an annual average Central house appreciation rate of 7.32%.
Appreciation rates are so strong in Central that despite a nationwide downturn in the housing market, Central real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Central appreciation rates continue to be some of the highest in America, at 7.12%, which is higher than appreciation rates in 75.25% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Central. Central appreciation rates in the latest quarter were at 1.43%, which equates to an annual appreciation rate of 5.83%.
Relative to South Carolina, our data show that Central's latest annual appreciation rate is higher than 50% of the other cities and towns in South Carolina.
$312,710
for South carolina
for nation
1,886
$1,458 / per month