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 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.
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.
|$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|
|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 Great Falls HOMES|
|2000 or Newer||0.7|
|1970 - 1999||17.9|
|1940 - 1969||66.7|
|1939 or Older||14.6|
|TYPE OF Great Falls HOMES|
|Small Apt. Buildings||5.3|
|SIZE OF Great Falls HOMES|
|5 or more bedrooms||0.00|