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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Effingham Housing Market Information

With 7,243 people, 1,461 houses or apartments, and a median cost of homes of $111,635, 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 58.67% of the town's housing units. Other types of housing that are prevalent in Effingham include mobile homes or trailers ( 40.83%).

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 73.71% of Effingham's homes, and 77.19% 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 ( 19.15%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.90%). There's also some housing in Effingham built before 1939 ( 4.46%).

Vacant housing appears to be an issue in Effingham. Fully 10.27% 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

Appreciation rates for homes in Effingham have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.01%, which ranks in the top 50% nationwide. This equates to an annual average Effingham house appreciation rate of 0.10%.

NeighborhoodScout's data show that during the latest twelve months, Effingham's appreciation rate, at 5.01%, has been at or slightly above the national average. In the latest quarter, Effingham's appreciation rate has been -0.44%, which annualizes to a rate of -1.76%.

Relative to South Carolina, our data show that Effingham's latest annual appreciation rate is higher than 60% of the other cities and towns in South Carolina.

Average Home Values

 

Median Home Value:
$111,635

Effingham, SC HOME PRICES

Value Range
> $1,063,000 0.2
$797,001 - $1,063,000 0.5
$532,001 - $797,000 2.6
$425,001 - $532,000 0.9
$319,001 - $425,000 0.5
$213,001 - $319,000 12.9
$106,001 - $213,000 34.1
$53,001 - $106,000 26.7
$0 - $53,000 21.5

Average for SC
Low for Nation

Value Relative to Nation Value Relative to State
70.4090003515762 50.9293680297398

Number Of Homes And Apartments:
1,461

Effingham Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
36.34% 1.81% 6 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$693 / per month

Homeownership Rate

Homeownership
Owners 73.71
Renters 26.29
Vacant 10.27

Housing Market Details

 

Age of Homes

AGE OF Effingham HOMES
2000 or Newer 9.9
1970 - 1999 66.5
1940 - 1969 19.2
1939 or Older 4.5

Types of Homes

TYPE OF Effingham HOMES
Single-Family 58.7
Townhomes 0.0
Small Apt. Buildings 0.0
Apt. Complexes 0.5
Mobile Homes 40.8
Other 0.0

Home Size

SIZE OF Effingham HOMES
No Bedroom 0.00
1 Bedroom 2.37
2 Bedrooms 18.09
3 Bedrooms 55.48
4 Bedrooms 21.72
5 or more bedrooms 2.36

Popular Neighborhoods in Effingham

Zip Codes in Effingham, SC