West Columbia, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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West Columbia, 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

West Columbia Housing Market Information

With a population of 16,060, 7,365 total housing units (homes and apartments), and a median house value of $138,796, house prices in West Columbia are solidly below the national average.

Single-family detached homes are the single most common housing type in West Columbia, accounting for 58.00% of the city's housing units. Other types of housing that are prevalent in West Columbia include large apartment complexes or high rise apartments ( 17.66%), duplexes, homes converted to apartments or other small apartment buildings ( 15.46%), and a few mobile homes or trailers ( 5.86%).

People in West Columbia primarily live in small (one, two or no bedroom) single-family detached homes. West Columbia has a mixture of owner-occupied and renter-occupied housing.

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. West Columbia's housing was primarily built during this period, from the '40s through the '60s. A full 44.62% of the city's housing hails from this era. Other housing ages represented in West Columbia include homes built between 1970-1999 ( 32.67%) and housing constructed between 2000 and later ( 18.51%). There's also some housing in West Columbia built before 1939 ( 4.21%).

Vacant housing appears to be an issue in West Columbia. Fully 11.38% of the housing stock is classified as vacant. Left unchecked, vacant West Columbia homes and apartments can be a drag on the real estate market, holding West Columbia 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.

West Columbia Home Appreciation Rates

Real estate appreciation rates in West Columbia's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.66% during the period.

Over the last year, West Columbia appreciation rates have trailed the rest of the nation. In the last twelve months, West Columbia's appreciation rate has been -4.41%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in West Columbia were at 0.33%, which equates to an annual appreciation rate of 1.34%.

Relative to South Carolina, our data show that West Columbia's latest annual appreciation rate is lower than 90% 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 West Columbia differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in West Columbia - 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 West Columbia real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$138,796

West Columbia, SC HOME PRICES

Value Range
> $990,000 0.1
$742,001 - $990,000 0.3
$495,001 - $742,000 0.5
$396,001 - $495,000 1.2
$297,001 - $396,000 2.1
$198,001 - $297,000 10.7
$99,001 - $198,000 46.6
$50,001 - $99,000 28.2
$0 - $50,000 10.3

High for SC
Average for Nation

Value Relative to Nation Value Relative to State
55.3673971639517 30.4832713754647

Number Of Homes And Apartments:
7,365

West Columbia 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
23.01% 1.21% 3 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$965 / per month

Homeownership Rate

Homeownership
Owners 53.16
Renters 46.84
Vacant 11.38

Housing Market Details

 

Age of Homes

AGE OF West Columbia HOMES
2000 or Newer 18.5
1970 - 1999 32.7
1940 - 1969 44.6
1939 or Older 4.2

Types of Homes

TYPE OF West Columbia HOMES
Single-Family 58.0
Townhomes 2.9
Small Apt. Buildings 15.5
Apt. Complexes 17.7
Mobile Homes 5.9
Other 0.1

Home Size

SIZE OF West Columbia HOMES
No Bedroom 1.26
1 Bedroom 8.36
2 Bedrooms 44.99
3 Bedrooms 33.98
4 Bedrooms 10.26
5 or more bedrooms 1.14