Sumter, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Sumter Neighborhoods Since 2000




Sumter, 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

Sumter Housing Market Information

With 40,816 people, 16,354 houses or apartments, and a median cost of homes of $105,738, house prices in Sumter are solidly below the national average.

Single-family detached homes are the single most common housing type in Sumter, accounting for 64.52% of the city's housing units. Other types of housing that are prevalent in Sumter include large apartment complexes or high rise apartments ( 14.96%), duplexes, homes converted to apartments or other small apartment buildings ( 11.02%), and a few mobile homes or trailers ( 5.32%).

The most prevalent building size and type in Sumter are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.87% owning and 49.13% renting.

There is a lot of housing in Sumter 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 Sumter built between 1940-1969 ( 25.98%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.53%). There's also some housing in Sumter built before 1939 ( 6.01%).

Vacant housing appears to be an issue in Sumter. Fully 13.99% of the housing stock is classified as vacant. Left unchecked, vacant Sumter homes and apartments can be a drag on the real estate market, holding Sumter 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.

Sumter Home Appreciation Rates

Real estate appreciation rates in Sumter's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.51% during the period.

Over the last year, Sumter appreciation rates have trailed the rest of the nation. In the last twelve months, Sumter's appreciation rate has been 1.40%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Sumter were at 4.97%, which equates to an annual appreciation rate of 21.41%.

Importantly, NeighborhoodScout’s exclusive research found that Sumter's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to South Carolina, our data show that Sumter's latest annual appreciation rate is lower than 60% 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 city. Individual neighborhoods within Sumter differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sumter - 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 Sumter real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$105,738

Sumter, SC HOME PRICES

Value Range
> $1,028,000 0.6
$771,001 - $1,028,000 0.0
$514,001 - $771,000 0.2
$411,001 - $514,000 1.5
$309,001 - $411,000 2.2
$206,001 - $309,000 7.9
$103,001 - $206,000 36.6
$52,001 - $103,000 32.6
$0 - $52,000 18.4

Average for SC
Low for Nation

Value Relative to Nation Value Relative to State
73.8134302121177 53.5315985130111

Number Of Homes And Apartments:
16,354

Sumter 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
26.80% 1.39% 4 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$883 / per month

Homeownership Rate

Homeownership
Owners 50.87
Renters 49.13
Vacant 13.99

Housing Market Details

 

Age of Homes

AGE OF Sumter HOMES
2000 or Newer 21.5
1970 - 1999 46.5
1940 - 1969 26.0
1939 or Older 6.0

Types of Homes

TYPE OF Sumter HOMES
Single-Family 64.5
Townhomes 4.0
Small Apt. Buildings 11.0
Apt. Complexes 15.0
Mobile Homes 5.3
Other 0.1

Home Size

SIZE OF Sumter HOMES
No Bedroom 1.65
1 Bedroom 6.70
2 Bedrooms 26.25
3 Bedrooms 46.59
4 Bedrooms 15.84
5 or more bedrooms 2.98