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 about Scout's Real Estate Data
With 477 people, 162 houses or apartments, and a median cost of homes of $157,064, house prices in Hemingway are solidly below the national average.
Single-family detached homes are the single most common housing type in Hemingway, accounting for 87.77% of the town's housing units. Other types of housing that are prevalent in Hemingway include large apartment complexes or high rise apartments ( 6.55%), mobile homes or trailers ( 5.68%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hemingway. Owner-occupied housing accounts for 67.28% of Hemingway's homes, and 75.11% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Hemingway built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Hemingway built between 1940-1969 ( 48.47%). A lesser amount of the housing stock also hails from between 2000 and later ( 1.31%). There's also some housing in Hemingway built before 1939 ( 1.31%).
Vacant housing appears to be an issue in Hemingway. Fully 29.26% of the housing stock is classified as vacant. Left unchecked, vacant Hemingway homes and apartments can be a drag on the real estate market, holding Hemingway 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.
Appreciation rates for homes in Hemingway have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 109.26%, which ranks in the top 30% nationwide. This equates to an annual average Hemingway house appreciation rate of 7.66%.
Appreciation rates are so strong in Hemingway that despite a nationwide downturn in the housing market, Hemingway real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hemingway appreciation rates continue to be some of the highest in America, at 6.75%, which is higher than appreciation rates in 72.39% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hemingway. Hemingway appreciation rates in the latest quarter were at 1.20%, which equates to an annual appreciation rate of 4.88%.
Relative to South Carolina, our data show that Hemingway's latest annual appreciation rate is lower than 80% of the other cities and towns in South Carolina.
$157,064
for South carolina
for nation
162
$1,515 / per month