McCormick, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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McCormick, SC Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

McCormick Housing Market Information

With 2,578 people, 711 houses or apartments, and a median cost of homes of $155,213, McCormick real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in McCormick, accounting for 58.40% of the town's housing units. Other types of housing that are prevalent in McCormick include duplexes, homes converted to apartments or other small apartment buildings ( 19.02%), mobile homes or trailers ( 10.80%), and a few large apartment complexes or high rise apartments ( 10.80%).

Renters dominate McCormick's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.

There is a lot of housing in McCormick 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 McCormick built between 1940-1969 ( 30.67%). A lesser amount of the housing stock also hails from before 1939 ( 11.41%). There's also some housing in McCormick built between 2000 and later ( 6.87%).

Vacant housing appears to be an issue in McCormick. Fully 12.76% of the housing stock is classified as vacant. Left unchecked, vacant McCormick homes and apartments can be a drag on the real estate market, holding McCormick 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.

McCormick Home Appreciation Rates

In the last 10 years, McCormick has experienced some of the highest home appreciation rates of any community in the nation. McCormick real estate appreciated 16.30% over the last ten years, which is an average annual home appreciation rate of 1.52%, putting McCormick in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, McCormick definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, McCormick appreciation rates have trailed the rest of the nation. In the last twelve months, McCormick's appreciation rate has been 2.69%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in McCormick were at 1.10%, which equates to an annual appreciation rate of 4.47%.

Relative to South Carolina, our data show that McCormick's latest annual appreciation rate is higher than 50% of the other cities and towns in South Carolina.

Average Home Values

 

Median Home Value:
$155,213

McCormick, SC HOME PRICES

Value Range
> $1,113,000 0.0
$835,001 - $1,113,000 0.0
$556,001 - $835,000 4.6
$445,001 - $556,000 3.5
$334,001 - $445,000 5.2
$222,001 - $334,000 13.1
$111,001 - $222,000 20.9
$56,001 - $111,000 31.2
$0 - $56,000 21.6

High for SC
Average for Nation

Value Relative to Nation Value Relative to State
47.820227352631 24.1635687732342

Number Of Homes And Apartments:
711

McCormick Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
57.68% 2.68% 10 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$596 / per month

Homeownership Rate

Homeownership
Owners 29.40
Renters 70.60
Vacant 12.76

Housing Market Details

 

Age of Homes

AGE OF McCormick HOMES
2000 or Newer 6.9
1970 - 1999 51.0
1940 - 1969 30.7
1939 or Older 11.4

Types of Homes

TYPE OF McCormick HOMES
Single-Family 58.4
Townhomes 1.0
Small Apt. Buildings 19.0
Apt. Complexes 10.8
Mobile Homes 10.8
Other 0.0

Home Size

SIZE OF McCormick HOMES
No Bedroom 0.37
1 Bedroom 19.14
2 Bedrooms 27.36
3 Bedrooms 38.53
4 Bedrooms 13.25
5 or more bedrooms 1.35

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Zip Codes in McCormick, SC