Port Royal, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Port Royal, 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

Port Royal Housing Market Information

With a population of 12,122, 2,906 total housing units (homes and apartments), and a median house value of $188,514, Port Royal real estate is some of the most expensive in South Carolina, although Port Royal home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Port Royal, accounting for 48.36% of the town's housing units. Other types of housing that are prevalent in Port Royal include large apartment complexes or high rise apartments ( 32.43%), duplexes, homes converted to apartments or other small apartment buildings ( 10.02%), and a few mobile homes or trailers ( 5.96%).

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

Port Royal homes and real estate are some of the newest in America. 51.71% of Port Royal's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Port Royal real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 36.06%), and between 1940-1969 ( 11.16%). There's also some housing in Port Royal built before 1939 ( 1.08%).

Vacant housing appears to be an issue in Port Royal. Fully 10.67% of the housing stock is classified as vacant. Left unchecked, vacant Port Royal homes and apartments can be a drag on the real estate market, holding Port Royal 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.

Port Royal Home Appreciation Rates

Port Royal's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Port Royal during the period has been just -1.62%, which is lower than 80% of US communities.

Appreciation rates are so strong in Port Royal that despite a nationwide downturn in the housing market, Port Royal real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Port Royal appreciation rates continue to be some of the highest in America, at 7.61%, which is higher than appreciation rates in 84.75% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Port Royal. Port Royal appreciation rates in the latest quarter were at 2.88%, which equates to an annual appreciation rate of 12.03%.

Importantly, this makes Port Royal one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to South Carolina, our data show that Port Royal's latest annual appreciation rate is higher than 80% of the other cities and towns in South Carolina.

Average Home Values

 

Median Home Value:
$188,514

Port Royal, SC HOME PRICES

Value Range
> $1,167,000 2.0
$875,001 - $1,167,000 0.9
$583,001 - $875,000 3.5
$467,001 - $583,000 4.5
$350,001 - $467,000 5.7
$233,001 - $350,000 20.1
$117,001 - $233,000 44.2
$58,001 - $117,000 12.1
$0 - $58,000 7.0

Very High for SC
High for Nation

Value Relative to Nation Value Relative to State
35.3041134419313 14.4981412639405

Number Of Homes And Apartments:
2,906

Port Royal 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
46.10% 2.22% 8 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,553 / per month

Homeownership Rate

Homeownership
Owners 25.64
Renters 74.36
Vacant 10.67

Housing Market Details

 

Age of Homes

AGE OF Port Royal HOMES
2000 or Newer 51.7
1970 - 1999 36.1
1940 - 1969 11.2
1939 or Older 1.1

Types of Homes

TYPE OF Port Royal HOMES
Single-Family 48.4
Townhomes 3.2
Small Apt. Buildings 10.0
Apt. Complexes 32.4
Mobile Homes 6.0
Other 0.0

Home Size

SIZE OF Port Royal HOMES
No Bedroom 8.85
1 Bedroom 11.47
2 Bedrooms 28.68
3 Bedrooms 38.55
4 Bedrooms 10.51
5 or more bedrooms 1.94

Popular Neighborhoods in Port Royal

Zip Codes in Port Royal, SC