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 4,193, 1,736 total housing units (homes and apartments), and a median house value of $194,701, house prices in Mount Olive are solidly below the national average.
Single-family detached homes are the single most common housing type in Mount Olive, accounting for 68.68% of the town's housing units. Other types of housing that are prevalent in Mount Olive include mobile homes or trailers ( 15.21%), duplexes, homes converted to apartments or other small apartment buildings ( 11.83%), and a few large apartment complexes or high rise apartments ( 2.87%).
The most prevalent building size and type in Mount Olive are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 47.16% owning and 52.84% renting.
There is a lot of housing in Mount Olive 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 Mount Olive built between 1940-1969 ( 35.60%). A lesser amount of the housing stock also hails from before 1939 ( 21.65%). There's also some housing in Mount Olive built between 2000 and later ( 5.99%).
Vacant housing appears to be an issue in Mount Olive. Fully 12.59% of the housing stock is classified as vacant. Left unchecked, vacant Mount Olive homes and apartments can be a drag on the real estate market, holding Mount Olive 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.
Mount Olive's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mount Olive during the period has been just 5.23%, which is lower than 80% of US communities.
Over the last year, Mount Olive appreciation rates have trailed the rest of the nation. In the last twelve months, Mount Olive's appreciation rate has been 2.75%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mount Olive were at -0.99%, which equates to an annual appreciation rate of -3.92%.
Notably, Mount Olive's appreciation rate in the latest quarter is one of the lowest in America.
Relative to North Carolina, our data show that Mount Olive's latest annual appreciation rate is lower than 90% of the other cities and towns in North Carolina.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Mount Olive differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mount Olive - 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 Mount Olive real estate investment or home purchase decisions.
$194,701
for North carolina
for nation
1,736
$1,428 / per month