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 a population of 6,919, 2,210 total housing units (homes and apartments), and a median house value of $192,580, house prices in Hurricane are solidly below the national average.
Single-family detached homes are the single most common housing type in Hurricane, accounting for 78.53% of the city's housing units. Other types of housing that are prevalent in Hurricane include large apartment complexes or high rise apartments ( 12.29%), duplexes, homes converted to apartments or other small apartment buildings ( 3.30%), and a few row houses and other attached homes ( 3.18%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hurricane. Owner-occupied housing accounts for 73.45% of Hurricane's homes, and 65.96% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Hurricane 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 Hurricane built between 2000 and later ( 28.63%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.28%). There's also some housing in Hurricane built before 1939 ( 8.03%).
Vacant housing appears to be an issue in Hurricane. Fully 12.13% of the housing stock is classified as vacant. Left unchecked, vacant Hurricane homes and apartments can be a drag on the real estate market, holding Hurricane 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Hurricane, where house values have increased just 39.09%, which is annualized rate of 3.35%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Hurricane appreciation rates have trailed the rest of the nation. In the last twelve months, Hurricane's appreciation rate has been 7.07%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hurricane were at 2.30%, which equates to an annual appreciation rate of 9.54%.
Notably, Hurricane's appreciation rate in the latest quarter is one of the lowest in America.
Relative to West Virginia, our data show that Hurricane's latest annual appreciation rate is lower than 70% of the other cities and towns in West Virginia.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Hurricane differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hurricane - 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 Hurricane real estate investment or home purchase decisions.
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