Great Falls, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Great Falls Neighborhoods Since 2000




Great Falls, 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

Great Falls Housing Market Information

With a population of 1,932, 719 total housing units (homes and apartments), and a median house value of $68,769, house prices in Great Falls are some of the most affordable in South Carolina as well as the nation.

Single-family detached homes are the single most common housing type in Great Falls, accounting for 84.19% of the town's housing units. Other types of housing that are prevalent in Great Falls include large apartment complexes or high rise apartments ( 6.30%), duplexes, homes converted to apartments or other small apartment buildings ( 5.34%), and a few mobile homes or trailers ( 3.53%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Great Falls. Owner-occupied housing accounts for 68.29% of Great Falls's homes, and 51.07% 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. Great Falls's housing was primarily built during this period, from the '40s through the '60s. A full 66.67% of the town's housing hails from this era. Other housing ages represented in Great Falls include homes built between 1970-1999 ( 17.95%) and housing constructed before 1939 ( 14.64%).

Vacant housing appears to be an issue in Great Falls. Fully 23.18% of the housing stock is classified as vacant. Left unchecked, vacant Great Falls homes and apartments can be a drag on the real estate market, holding Great Falls 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.

Great Falls Home Appreciation Rates

In the last 10 years, Great Falls has experienced some of the highest home appreciation rates of any community in the nation. Great Falls real estate appreciated 33.42% over the last ten years, which is an average annual home appreciation rate of 2.93%, putting Great Falls in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Great Falls definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Great Falls that despite a nationwide downturn in the housing market, Great Falls real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Great Falls appreciation rates continue to be some of the highest in America, at 8.38%, which is higher than appreciation rates in 88.41% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Great Falls. Great Falls appreciation rates in the latest quarter were at 1.88%, which equates to an annual appreciation rate of 7.72%.

Importantly, this makes Great Falls one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to South Carolina, our data show that Great Falls's latest annual appreciation rate is higher than 80% of the other cities and towns in South Carolina.

Average Home Values

 

Median Home Value:
$68,769

Great Falls, SC HOME PRICES

Value Range
> $1,238,000 0.0
$928,001 - $1,238,000 0.0
$619,001 - $928,000 0.0
$495,001 - $619,000 0.0
$371,001 - $495,000 0.0
$247,001 - $371,000 0.8
$124,001 - $247,000 15.7
$62,001 - $124,000 33.2
$0 - $62,000 50.3

Very Low for SC
Very Low for Nation

Value Relative to Nation Value Relative to State
95.7752255947498 92.5650557620818

Number Of Homes And Apartments:
719

Great Falls 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
66.12% 2.99% 10 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$778 / per month

Homeownership Rate

Homeownership
Owners 68.29
Renters 31.71
Vacant 23.18

Housing Market Details

 

Age of Homes

AGE OF Great Falls HOMES
2000 or Newer 0.7
1970 - 1999 17.9
1940 - 1969 66.7
1939 or Older 14.6

Types of Homes

TYPE OF Great Falls HOMES
Single-Family 84.2
Townhomes 0.6
Small Apt. Buildings 5.3
Apt. Complexes 6.3
Mobile Homes 3.5
Other 0.0

Home Size

SIZE OF Great Falls HOMES
No Bedroom 1.18
1 Bedroom 1.71
2 Bedrooms 46.05
3 Bedrooms 36.75
4 Bedrooms 14.32
5 or more bedrooms 0.00

Popular Neighborhoods in Great Falls

Zip Codes in Great Falls, SC