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 4,371, 1,886 total housing units (homes and apartments), and a median house value of $1,450,497, Isle of Palms house prices are not only among the most expensive in South Carolina, Isle of Palms real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Isle of Palms, accounting for 68.31% of the city's housing units. Other types of housing that are prevalent in Isle of Palms include large apartment complexes or high rise apartments ( 20.15%), duplexes, homes converted to apartments or other small apartment buildings ( 7.70%), and a few row houses and other attached homes ( 3.69%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Isle of Palms. Owner-occupied housing accounts for 80.43% of Isle of Palms's homes, and 63.93% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Isle of Palms 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 Isle of Palms built between 2000 and later ( 15.86%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.81%).
A decent proportion of the Isle of Palms housing stock is seasonally occupied. That is, homes and condos in Isle of Palms are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Isle of Palms housing market speaks to its popularity as a vacation location of choice.
Isle of Palms's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Isle of Palms during the period has been just -1.34%, which is lower than 80% of US communities.
Appreciation rates are so strong in Isle of Palms that despite a nationwide downturn in the housing market, Isle of Palms real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Isle of Palms appreciation rates continue to be some of the highest in America, at 15.41%, which is higher than appreciation rates in 99.43% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Isle of Palms. Isle of Palms appreciation rates in the latest quarter were at 2.72%, which equates to an annual appreciation rate of 11.31%.
Importantly, this makes Isle of Palms one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to South Carolina, our data show that Isle of Palms's latest annual appreciation rate is higher than 90% of the other cities and towns in South Carolina.
|$989,001 - $1,318,000||14.7|
|$659,001 - $989,000||24.4|
|$527,001 - $659,000||7.5|
|$395,001 - $527,000||7.0|
|$263,001 - $395,000||2.5|
|$132,001 - $263,000||4.3|
|$66,001 - $132,000||0.0|
|$0 - $66,000||1.1|
|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 Isle of Palms HOMES|
|2000 or Newer||15.9|
|1970 - 1999||67.4|
|1940 - 1969||15.8|
|1939 or Older||1.0|
|TYPE OF Isle of Palms HOMES|
|Small Apt. Buildings||7.7|
|SIZE OF Isle of Palms HOMES|
|5 or more bedrooms||18.49|