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 a population of 3,493, 1,369 total housing units (homes and apartments), and a median house value of $321,461, real estate costs in Granite Falls are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Washington communities.
Single-family detached homes are the single most common housing type in Granite Falls, accounting for 69.51% of the city's housing units. Other types of housing that are prevalent in Granite Falls include large apartment complexes or high rise apartments ( 11.89%), row houses and other attached homes ( 5.32%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.66%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Granite Falls. Owner-occupied housing accounts for 67.20% of Granite Falls's homes, and 62.61% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Granite Falls 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 Granite Falls built between 2000 and later ( 38.63%). A lesser amount of the housing stock also hails from before 1939 ( 11.83%). There's also some housing in Granite Falls built between 1940-1969 ( 2.76%).
Vacant housing appears to be an issue in Granite Falls. Fully 10.05% of the housing stock is classified as vacant. Left unchecked, vacant Granite Falls homes and apartments can be a drag on the real estate market, holding Granite Falls 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.
Granite Falls's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Granite Falls during the period has been just -0.84%, which is lower than 70% of US communities.
Appreciation rates are so strong in Granite Falls that despite a nationwide downturn in the housing market, Granite Falls real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Granite Falls appreciation rates continue to be some of the highest in America, at 8.40%, which is higher than appreciation rates in 88.51% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Granite Falls. Granite Falls appreciation rates in the latest quarter were at 2.83%, which equates to an annual appreciation rate of 11.81%.
Importantly, this makes Granite Falls one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Washington, our data show that Granite Falls's latest annual appreciation rate is lower than 60% of the other cities and towns in Washington.
|$972,001 - $1,296,000||0.3|
|$648,001 - $972,000||9.4|
|$519,001 - $648,000||6.1|
|$389,001 - $519,000||12.3|
|$259,001 - $389,000||29.7|
|$130,001 - $259,000||33.1|
|$65,001 - $130,000||3.6|
|$0 - $65,000||4.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Granite Falls HOMES|
|2000 or Newer||38.6|
|1970 - 1999||46.8|
|1940 - 1969||2.8|
|1939 or Older||11.8|
|TYPE OF Granite Falls HOMES|
|Small Apt. Buildings||4.7|
|SIZE OF Granite Falls HOMES|
|5 or more bedrooms||5.39|