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 1,167, 371 total housing units (homes and apartments), and a median house value of $129,959, house prices in Mount Gilead are some of the most affordable in North Carolina as well as the nation.
Single-family detached homes are the single most common housing type in Mount Gilead, accounting for 75.34% of the town's housing units. Other types of housing that are prevalent in Mount Gilead include duplexes, homes converted to apartments or other small apartment buildings ( 15.44%), large apartment complexes or high rise apartments ( 7.72%), and a few mobile homes or trailers ( 1.51%).
The most prevalent building size and type in Mount Gilead are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 51.52% owning and 48.48% renting.
Vacant housing appears to be an issue in Mount Gilead. Fully 37.75% of the housing stock is classified as vacant. Left unchecked, vacant Mount Gilead homes and apartments can be a drag on the real estate market, holding Mount Gilead 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.
Real estate appreciation rates in Mount Gilead's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.18% during the period.
Appreciation rates are so strong in Mount Gilead that despite a nationwide downturn in the housing market, Mount Gilead real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mount Gilead appreciation rates continue to be some of the highest in America, at 11.80%, which is higher than appreciation rates in 71.17% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mount Gilead. Mount Gilead appreciation rates in the latest quarter were at 2.57%, which equates to an annual appreciation rate of 10.70%.
Relative to North Carolina, our data show that Mount Gilead's latest annual appreciation rate is higher than 50% of the other cities and towns in North Carolina.
$129,959
for North carolina
for nation
371
$1,563 / per month