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
With a population of 10,615, 4,964 total housing units (homes and apartments), and a median house value of $197,207, Forest Acres real estate is some of the most expensive in South Carolina, although Forest Acres home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Forest Acres, accounting for 66.74% of the city's housing units. Other types of housing that are prevalent in Forest Acres include large apartment complexes or high rise apartments ( 19.88%), row houses and other attached homes ( 6.47%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.26%).
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 69.76% of Forest Acres's homes, and 63.19% 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 63.15% of the city's housing hails from this era. Other housing ages represented in Forest Acres include homes built between 1970-1999 ( 31.70%) and housing constructed between 2000 and later ( 2.79%). There's also some housing in Forest Acres built before 1939 ( 2.35%).
Vacant housing appears to be an issue in Forest Acres. Fully 12.19% of the housing stock is classified as vacant. Left unchecked, vacant Forest Acres homes and apartments can be a drag on the real estate market, holding Forest Acres 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 Forest Acres have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.63%, which ranks in the top 50% nationwide. This equates to an annual average Forest Acres house appreciation rate of 0.16%.
Over the last year, Forest Acres appreciation rates have trailed the rest of the nation. In the last twelve months, Forest Acres's appreciation rate has been 0.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Forest Acres were at 0.33%, which equates to an annual appreciation rate of 1.34%.
Relative to South Carolina, our data show that Forest Acres'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 Forest Acres differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Forest Acres - 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 Forest Acres real estate investment or home purchase decisions.
|$800,001 - $1,067,000||1.7|
|$534,001 - $800,000||5.3|
|$427,001 - $534,000||3.5|
|$320,001 - $427,000||7.5|
|$213,001 - $320,000||25.8|
|$107,001 - $213,000||44.7|
|$53,001 - $107,000||8.4|
|$0 - $53,000||2.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Forest Acres HOMES|
|2000 or Newer||2.8|
|1970 - 1999||31.7|
|1940 - 1969||63.2|
|1939 or Older||2.4|
|TYPE OF Forest Acres HOMES|
|Small Apt. Buildings||6.3|
|SIZE OF Forest Acres HOMES|
|5 or more bedrooms||2.49|