Irmo, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Irmo, SC Real Estate Data


Irmo Housing Market Information

With a population of 12,056, 4,382 total housing units (homes and apartments), and a median house value of $139,297, house prices in Irmo are solidly below the national average.

Single-family detached homes are the single most common housing type in Irmo, accounting for 93.35% of the town's housing units. Other types of housing that are prevalent in Irmo include large apartment complexes or high rise apartments ( 3.54%), duplexes, homes converted to apartments or other small apartment buildings ( 1.48%), and a few row houses and other attached homes ( 1.37%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Irmo. Owner-occupied housing accounts for 79.76% of Irmo's homes, and 86.16% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Irmo 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 Irmo built between 2000 and later ( 6.33%). A lesser amount of the housing stock also hails from between 1940-1969 ( 2.22%).

Irmo Home Appreciation Rates

Irmo's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Irmo during the period has been just -0.74%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Irmo's appreciation rate, at 5.50%, has been at or slightly above the national average. In the latest quarter, Irmo's appreciation rate has been -0.62%, which annualizes to a rate of -2.46%.

Notably, Irmo's appreciation rate in the latest quarter is one of the lowest in America.

Relative to South Carolina, our data show that Irmo's latest annual appreciation rate is lower than 50% 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 town. Individual neighborhoods within Irmo differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Irmo - 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 Irmo real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$139,297

Irmo, SC HOME PRICES

Value Range
> $1,040,000 0.0
$780,001 - $1,040,000 0.1
$519,001 - $780,000 0.2
$416,001 - $519,000 0.7
$312,001 - $416,000 2.4
$208,001 - $312,000 12.6
$104,001 - $208,000 61.6
$52,001 - $104,000 21.7
$0 - $52,000 0.9

High for SC
Average for Nation

Value Relative to Nation Value Relative to State
56.0754230836798 30.1115241635688

Number Of Homes And Apartments:
4,382

Rent & Ownership

 

Average Market Rent:
$914 / per month

Homeownership Rate

Homeownership
Owners 79.76
Renters 20.24
Vacant 7.55

Housing Market Details

 

Age of Homes

AGE OF Irmo HOMES
2000 or Newer 6.3
1970 - 1999 90.5
1940 - 1969 2.2
1939 or Older 0.9

Types of Homes

TYPE OF Irmo HOMES
Single-Family 93.4
Townhomes 1.4
Small Apt. Buildings 1.5
Apt. Complexes 3.5
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Irmo HOMES
No Bedroom 1.56
1 Bedroom 0.34
2 Bedrooms 9.51
3 Bedrooms 71.03
4 Bedrooms 15.13
5 or more bedrooms 2.43

Irmo 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
10.96% 0.61% 1 1
* 10 is highest