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 2,369 people, 843 houses or apartments, and a median cost of homes of $80,792, house prices in Timmonsville 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 Timmonsville, accounting for 60.83% of the town's housing units. Other types of housing that are prevalent in Timmonsville include mobile homes or trailers ( 27.26%), duplexes, homes converted to apartments or other small apartment buildings ( 11.02%).
The most prevalent building size and type in Timmonsville are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 51.60% owning and 48.40% renting.
There is a lot of housing in Timmonsville 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 Timmonsville built between 1940-1969 ( 32.19%). A lesser amount of the housing stock also hails from between 2000 and later ( 5.31%). There's also some housing in Timmonsville built before 1939 ( 4.43%).
Vacant housing appears to be an issue in Timmonsville. Fully 17.03% of the housing stock is classified as vacant. Left unchecked, vacant Timmonsville homes and apartments can be a drag on the real estate market, holding Timmonsville 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Timmonsville, where house values have increased just 7.27%, which is annualized rate of 0.70%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Timmonsville that despite a nationwide downturn in the housing market, Timmonsville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Timmonsville appreciation rates continue to be some of the highest in America, at 8.45%, which is higher than appreciation rates in 95.96% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Timmonsville. Timmonsville appreciation rates in the latest quarter were at 1.69%, which equates to an annual appreciation rate of 6.92%.
Importantly, this makes Timmonsville 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 Timmonsville's latest annual appreciation rate is higher than 90% of the other cities and towns in South Carolina.
|$844,001 - $1,125,000||0.0|
|$562,001 - $844,000||0.0|
|$450,001 - $562,000||1.0|
|$337,001 - $450,000||2.0|
|$225,001 - $337,000||5.9|
|$112,001 - $225,000||21.8|
|$56,001 - $112,000||35.2|
|$0 - $56,000||34.0|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
2000 Q1 - 2020 Q2
|* 10 is highest|
|AGE OF Timmonsville HOMES|
|2000 or Newer||5.3|
|1970 - 1999||58.1|
|1940 - 1969||32.2|
|1939 or Older||4.4|
|TYPE OF Timmonsville HOMES|
|Small Apt. Buildings||11.0|
|SIZE OF Timmonsville HOMES|
|5 or more bedrooms||4.33|