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 625 people, 361 houses or apartments, and a median cost of homes of $80,036, house prices in Pelion 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 Pelion, accounting for 90.84% of the town's housing units. Other types of housing that are prevalent in Pelion include mobile homes or trailers ( 6.36%), duplexes, homes converted to apartments or other small apartment buildings ( 2.04%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Pelion. Owner-occupied housing accounts for 77.64% of Pelion's homes, and 55.98% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Pelion 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 Pelion built before 1939 ( 26.72%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.52%). There's also some housing in Pelion built between 1940-1969 ( 12.21%).
Real estate appreciation rates in Pelion's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.57% during the period.
Appreciation rates are so strong in Pelion that despite a nationwide downturn in the housing market, Pelion real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Pelion appreciation rates continue to be some of the highest in America, at 7.71%, which is higher than appreciation rates in 80.50% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Pelion. Pelion appreciation rates in the latest quarter were at 0.99%, which equates to an annual appreciation rate of 4.01%.
Relative to South Carolina, our data show that Pelion's latest annual appreciation rate is higher than 70% of the other cities and towns in South Carolina.
$80,036
for South carolina
for nation
361
$1,660 / per month