Great Falls, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Great Falls, SC Real Estate Data


Great Falls Housing Market Information

With 1,932 people, 652 houses or apartments, and a median cost of homes of $65,676, 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 85.91% of the town's housing units. Other types of housing that are prevalent in Great Falls include mobile homes or trailers ( 4.84%), duplexes, homes converted to apartments or other small apartment buildings ( 4.42%), and a few large apartment complexes or high rise apartments ( 4.31%).

Dwellings in Great Falls tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 51.74% of the homes in Great Falls have two or fewer bedrooms.

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 67.72% of the town's housing hails from this era. Other housing ages represented in Great Falls include homes built before 1939 ( 16.40%) and housing constructed between 1970-1999 ( 15.56%).

Vacant housing appears to be an issue in Great Falls. Fully 31.44% 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 27.95% over the last ten years, which is an average annual home appreciation rate of 2.50%, putting Great Falls in the top 20% 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 7.95%, which is higher than appreciation rates in 91.19% 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 1.57%, which equates to an annual appreciation rate of 6.43%.

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:
$65,676

Great Falls, SC HOME PRICES

Value Range
> $1,265,000 0.0
$949,001 - $1,265,000 0.0
$633,001 - $949,000 0.0
$506,001 - $633,000 0.0
$380,001 - $506,000 0.0
$253,001 - $380,000 0.0
$127,001 - $253,000 16.6
$63,001 - $127,000 29.2
$0 - $63,000 54.2

Very Low for SC
Very Low for Nation

Value Relative to Nation Value Relative to State
97.0018153071383 92.1933085501859

Number Of Homes And Apartments:
652

Rent & Ownership

 

Average Market Rent:
$637 / per month

Homeownership Rate

Homeownership
Owners 70.40
Renters 29.60
Vacant 31.44

Housing Market Details

 

Age of Homes

AGE OF Great Falls HOMES
2000 or Newer 0.3
1970 - 1999 15.6
1940 - 1969 67.7
1939 or Older 16.4

Types of Homes

TYPE OF Great Falls HOMES
Single-Family 85.9
Townhomes 0.5
Small Apt. Buildings 4.4
Apt. Complexes 4.3
Mobile Homes 4.8
Other 0.0

Home Size

SIZE OF Great Falls HOMES
No Bedroom 0.00
1 Bedroom 4.31
2 Bedrooms 47.42
3 Bedrooms 36.17
4 Bedrooms 11.78
5 or more bedrooms 0.32

Great Falls Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
58.13% 2.73% 10 7
* 10 is highest

Popular Neighborhoods in Great Falls

Zip Codes in Great Falls, SC