West Columbia, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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West Columbia, SC Real Estate Data


West Columbia Housing Market Information

With a population of 16,060, 7,247 total housing units (homes and apartments), and a median house value of $135,147, 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 57.57% of the city's housing units. Other types of housing that are prevalent in West Columbia include large apartment complexes or high rise apartments ( 17.95%), duplexes, homes converted to apartments or other small apartment buildings ( 15.12%), and a few mobile homes or trailers ( 6.51%).

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 43.49% of the city's housing hails from this era. Other housing ages represented in West Columbia include homes built between 1970-1999 ( 34.59%) and housing constructed between 2000 and later ( 17.85%). There's also some housing in West Columbia built before 1939 ( 4.07%).

Vacant housing appears to be an issue in West Columbia. Fully 12.18% 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 0.20% during the period.

Appreciation rates are so strong in West Columbia that despite a nationwide downturn in the housing market, West Columbia real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, West Columbia appreciation rates continue to be some of the highest in America, at 6.66%, which is higher than appreciation rates in 81.61% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in West Columbia. West Columbia appreciation rates in the latest quarter were at -0.62%, which equates to an annual appreciation rate of -2.46%.

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

Relative to South Carolina, our data show that West Columbia's latest annual appreciation rate is higher 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 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:
$135,147

West Columbia, SC HOME PRICES

Value Range
> $1,075,000 0.5
$806,001 - $1,075,000 1.0
$537,001 - $806,000 0.5
$430,001 - $537,000 2.2
$323,001 - $430,000 2.9
$215,001 - $323,000 9.7
$108,001 - $215,000 45.7
$54,001 - $108,000 25.7
$0 - $54,000 11.8

High for SC
Average for Nation

Value Relative to Nation Value Relative to State
58.1132517421093 31.5985130111524

Number Of Homes And Apartments:
7,247

Rent & Ownership

 

Average Market Rent:
$1,083 / per month

Homeownership Rate

Homeownership
Owners 54.08
Renters 45.92
Vacant 12.18

Housing Market Details

 

Age of Homes

AGE OF West Columbia HOMES
2000 or Newer 17.9
1970 - 1999 34.6
1940 - 1969 43.5
1939 or Older 4.1

Types of Homes

TYPE OF West Columbia HOMES
Single-Family 57.6
Townhomes 2.8
Small Apt. Buildings 15.1
Apt. Complexes 17.9
Mobile Homes 6.5
Other 0.0

Home Size

SIZE OF West Columbia HOMES
No Bedroom 0.99
1 Bedroom 8.46
2 Bedrooms 43.53
3 Bedrooms 36.60
4 Bedrooms 9.43
5 or more bedrooms 0.99

West Columbia Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
32.35% 1.66% 5 3
* 10 is highest