Union, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Union Neighborhoods Since 2000




Union, 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

Union Housing Market Information

With 8,045 people, 3,610 houses or apartments, and a median cost of homes of $69,982, house prices in Union 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 Union, accounting for 71.09% of the city's housing units. Other types of housing that are prevalent in Union include duplexes, homes converted to apartments or other small apartment buildings ( 13.23%), large apartment complexes or high rise apartments ( 9.67%), and a few mobile homes or trailers ( 5.61%).

The most prevalent building size and type in Union are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.08% owning and 46.92% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Union's housing was primarily built during this period, from the '40s through the '60s. A full 42.71% of the city's housing hails from this era. Other housing ages represented in Union include homes built between 1970-1999 ( 35.11%) and housing constructed before 1939 ( 18.08%). There's also some housing in Union built between 2000 and later ( 4.11%).

Vacant housing appears to be an issue in Union. Fully 14.25% of the housing stock is classified as vacant. Left unchecked, vacant Union homes and apartments can be a drag on the real estate market, holding Union 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.

Union Home Appreciation Rates

Real estate appreciation rates in Union's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.45% during the period.

Over the last year, Union appreciation rates have trailed the rest of the nation. In the last twelve months, Union's appreciation rate has been 2.23%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Union were at -3.08%, which equates to an annual appreciation rate of -11.77%.

Notably, Union's appreciation rate in the latest quarter is one of the lowest in America.

Relative to South Carolina, our data show that Union's latest annual appreciation rate is lower than 50% 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 Union differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Union - 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 Union real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$69,982

Union, SC HOME PRICES

Value Range
> $1,061,000 0.1
$795,001 - $1,061,000 0.0
$530,001 - $795,000 0.1
$424,001 - $530,000 0.6
$318,001 - $424,000 1.7
$212,001 - $318,000 4.6
$106,001 - $212,000 19.8
$53,001 - $106,000 38.0
$0 - $53,000 35.0

Very Low for SC
Very Low for Nation

Value Relative to Nation Value Relative to State
95.271299660143 91.0780669144982

Number Of Homes And Apartments:
3,610

Union 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
7.53% 0.42% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$758 / per month

Homeownership Rate

Homeownership
Owners 53.08
Renters 46.92
Vacant 14.25

Housing Market Details

 

Age of Homes

AGE OF Union HOMES
2000 or Newer 4.1
1970 - 1999 35.1
1940 - 1969 42.7
1939 or Older 18.1

Types of Homes

TYPE OF Union HOMES
Single-Family 71.1
Townhomes 0.2
Small Apt. Buildings 13.2
Apt. Complexes 9.7
Mobile Homes 5.6
Other 0.2

Home Size

SIZE OF Union HOMES
No Bedroom 1.33
1 Bedroom 9.03
2 Bedrooms 29.29
3 Bedrooms 45.94
4 Bedrooms 12.02
5 or more bedrooms 2.40