Forest Acres SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Forest Acres, 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 Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Forest Acres Housing Market Information

With 10,331 people, 4,708 houses or apartments, and a median cost of homes of $219,810, 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 67.77% of the city's housing units. Other types of housing that are prevalent in Forest Acres include large apartment complexes or high rise apartments ( 18.00%), duplexes, homes converted to apartments or other small apartment buildings ( 7.40%), and a few row houses and other attached homes ( 6.10%).

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 75.68% of Forest Acres's homes, and 64.30% 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 60.07% of the city's housing hails from this era. Other housing ages represented in Forest Acres include homes built between 1970-1999 ( 34.52%) and housing constructed between 2000 and later ( 3.21%). There's also some housing in Forest Acres built before 1939 ( 2.20%).

Vacant housing appears to be an issue in Forest Acres. Fully 11.62% 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.

Forest Acres Home Appreciation Rates

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 1.53% 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 5.18%, which is higher than appreciation rates in 73.90% 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 0.11%, which equates to an annual appreciation rate of 0.44%.

Notably, Forest Acres's appreciation rate in the latest quarter is one of the lowest in America.

Relative to South Carolina, our data show that Forest Acres's latest annual appreciation rate is higher than 60% 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.

Average Home Values

 

Median Home Value:
$219,810

Forest Acres, SC HOME PRICES

Value Range
> $1,183,000 1.3
$888,001 - $1,183,000 1.6
$592,001 - $888,000 5.7
$473,001 - $592,000 4.9
$355,001 - $473,000 8.0
$237,001 - $355,000 24.1
$118,001 - $237,000 42.5
$60,001 - $118,000 9.4
$0 - $60,000 2.4

Very High for SC
High for Nation

Value Relative to Nation Value Relative to State
34.1605839416058 14.8148148148148

Number Of Homes And Apartments:
4,708

Forest Acres Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
58.19% 2.35%
7
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,188 / per month

Homeownership Rate

Homeownership
Owners 75.68
Renters 24.32
Vacant 11.62

Housing Market Details

 

Age of Homes

AGE OF Forest Acres HOMES
2000 or Newer 3.2
1970 - 1999 34.5
1940 - 1969 60.1
1939 or Older 2.2

Types of Homes

TYPE OF Forest Acres HOMES
Single-Family 67.8
Townhomes 6.1
Small Apt. Buildings 7.4
Apt. Complexes 18.0
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Forest Acres HOMES
No Bedroom 0.32
1 Bedroom 4.32
2 Bedrooms 27.67
3 Bedrooms 44.51
4 Bedrooms 19.79
5 or more bedrooms 3.40