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 about Scout's Real Estate Data
With 104 people, 11 houses or apartments, and a median cost of homes of $293,345, Charles City real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Charles City, accounting for 86.21% of the town's housing units. Other types of housing that are prevalent in Charles City include mobile homes or trailers ( 13.79%).
People in Charles City primarily live in small (one, two or no bedroom) single-family detached homes. Charles City has a mixture of owner-occupied and renter-occupied housing.
The housing in Charles City was primarily built before 1939 ( 48.28%), making the housing stock in Charles City some of the oldest overall in America, although there is a range of ages of homes in Charles City. The next most important housing age is between 1970-1999 ( 44.83%), followed by between 1940-1969 ( 6.90%).
Vacant housing appears to be an issue in Charles City. Fully 62.07% of the housing stock is classified as vacant. Left unchecked, vacant Charles City homes and apartments can be a drag on the real estate market, holding Charles City 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.
Charles City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Charles City during the period has been just 5.23%, which is lower than 70% of US communities.
Appreciation rates are so strong in Charles City that despite a nationwide downturn in the housing market, Charles City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Charles City appreciation rates continue to be some of the highest in America, at 7.76%, which is higher than appreciation rates in 83.52% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Charles City. Charles City appreciation rates in the latest quarter were at 1.23%, which equates to an annual appreciation rate of 5.03%.
Relative to Virginia, our data show that Charles City's latest annual appreciation rate is higher than 80% of the other cities and towns in Virginia.
$293,345
for Virginia
for nation
11
$1,032 / per month