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 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

Forest Acres Housing Market Information

With 10,331 people, 4,557 houses or apartments, and a median cost of homes of $225,662, 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 67.00% of the city's housing units. Other types of housing that are prevalent in Forest Acres include large apartment complexes or high rise apartments ( 18.63%), duplexes, homes converted to apartments or other small apartment buildings ( 8.34%), and a few row houses and other attached homes ( 5.74%).

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 74.76% of Forest Acres's homes, and 65.99% 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 60.17% of the city's housing hails from this era. Other housing ages represented in Forest Acres include homes built between 1970-1999 ( 32.92%) and housing constructed between 2000 and later ( 5.74%). There's also some housing in Forest Acres built before 1939 ( 1.17%).

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 1.89% during the period.

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 3.10%, 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 0.19%, which equates to an annual appreciation rate of 0.75%.

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 lower than 80% 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:
$225,662

Forest Acres, SC HOME PRICES

Value Range
> $1,167,000 1.3
$876,001 - $1,167,000 2.0
$584,001 - $876,000 6.0
$467,001 - $584,000 4.9
$350,001 - $467,000 7.5
$234,001 - $350,000 25.8
$117,001 - $234,000 42.3
$59,001 - $117,000 8.4
$0 - $59,000 1.9

Very High for SC
High for Nation

Value Relative to Nation Value Relative to State
34.0554744525547 15.1851851851852

Number Of Homes And Apartments:
4,557

Forest Acres 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
60.53% 2.34%
7
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,147 / per month

Homeownership Rate

Homeownership
Owners 74.76
Renters 25.24
Vacant 8.24

Housing Market Details

 

Age of Homes

AGE OF Forest Acres HOMES
2000 or Newer 5.7
1970 - 1999 32.9
1940 - 1969 60.2
1939 or Older 1.2

Types of Homes

TYPE OF Forest Acres HOMES
Single-Family 67.0
Townhomes 5.7
Small Apt. Buildings 8.3
Apt. Complexes 18.6
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Forest Acres HOMES
No Bedroom 0.00
1 Bedroom 2.94
2 Bedrooms 27.47
3 Bedrooms 48.11
4 Bedrooms 17.88
5 or more bedrooms 3.60