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 10,403 people, 4,694 houses or apartments, and a median cost of homes of $304,023, Forest Acres real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Forest Acres, accounting for 67.46% of the city's housing units. Other types of housing that are prevalent in Forest Acres include large apartment complexes or high rise apartments ( 16.13%), duplexes, homes converted to apartments or other small apartment buildings ( 10.05%), and a few row houses and other attached homes ( 6.02%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Forest Acres. Owner-occupied housing accounts for 77.52% of Forest Acres's homes, and 63.70% have either three or four bedrooms, which is average sized relative to America.
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. Forest Acres's housing was primarily built during this period, from the '40s through the '60s. A full 62.78% of the city's housing hails from this era. Other housing ages represented in Forest Acres include homes built between 1970-1999 ( 29.50%) and housing constructed between 2000 and later ( 4.62%). There's also some housing in Forest Acres built before 1939 ( 3.10%).
Real estate appreciation rates in Forest Acres's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.96% during the period.
Appreciation rates are so strong in Forest Acres that despite a nationwide downturn in the housing market, Forest Acres real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Forest Acres appreciation rates continue to be some of the highest in America, at 7.71%, which is higher than appreciation rates in 80.54% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Forest Acres. Forest Acres appreciation rates in the latest quarter were at 0.99%, which equates to an annual appreciation rate of 4.01%.
Relative to South Carolina, our data show that Forest Acres's latest annual appreciation rate is higher than 70% of the other cities and towns in South Carolina.
$304,023
for South carolina
for nation
4,694
$1,763 / per month