Effingham SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Effingham, SC 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

Effingham Housing Market Information

With a population of 7,277, 1,488 total housing units (homes and apartments), and a median house value of $124,990, house prices in Effingham are solidly below the national average.

Single-family detached homes are the single most common housing type in Effingham, accounting for 56.42% of the town's housing units. Other types of housing that are prevalent in Effingham include mobile homes or trailers ( 43.18%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Effingham. Owner-occupied housing accounts for 77.79% of Effingham's homes, and 74.42% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Effingham 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 Effingham built between 1940-1969 ( 17.99%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.59%). There's also some housing in Effingham built before 1939 ( 3.37%).

Vacant housing appears to be an issue in Effingham. Fully 11.24% of the housing stock is classified as vacant. Left unchecked, vacant Effingham homes and apartments can be a drag on the real estate market, holding Effingham 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.

Effingham Home Appreciation Rates

Effingham's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Effingham during the period has been just 0.93%, which is lower than 80% of US communities.

Over the last year, Effingham appreciation rates have trailed the rest of the nation. In the last twelve months, Effingham's appreciation rate has been 3.38%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Effingham were at 1.69%, which equates to an annual appreciation rate of 6.92%.

Importantly, this makes Effingham one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$124,990

Effingham, SC HOME PRICES

Value Range
> $1,092,000 0.5
$819,001 - $1,092,000 0.4
$546,001 - $819,000 1.3
$437,001 - $546,000 1.2
$327,001 - $437,000 2.7
$219,001 - $327,000 14.7
$109,001 - $219,000 35.5
$55,001 - $109,000 24.2
$0 - $55,000 19.5

Average for SC
Low for Nation

Value Relative to Nation Value Relative to State
73.2788321167883 51.4814814814815

Number Of Homes And Apartments:
1,488

Effingham Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
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
36.16% 1.52%
2
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$826 / per month

Homeownership Rate

Homeownership
Owners 77.79
Renters 22.21
Vacant 11.24

Housing Market Details

 

Age of Homes

AGE OF Effingham HOMES
2000 or Newer 13.6
1970 - 1999 65.1
1940 - 1969 18.0
1939 or Older 3.4

Types of Homes

TYPE OF Effingham HOMES
Single-Family 56.4
Townhomes 0.2
Small Apt. Buildings 0.0
Apt. Complexes 0.2
Mobile Homes 43.2
Other 0.0

Home Size

SIZE OF Effingham HOMES
No Bedroom 0.00
1 Bedroom 0.78
2 Bedrooms 22.99
3 Bedrooms 58.37
4 Bedrooms 16.04
5 or more bedrooms 1.81

Popular Neighborhoods in Effingham

Zip Codes in Effingham, SC