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 2,523 people, 972 houses or apartments, and a median cost of homes of $189,497, house prices in Murfreesboro are solidly below the national average.
Single-family detached homes are the single most common housing type in Murfreesboro, accounting for 75.87% of the town's housing units. Other types of housing that are prevalent in Murfreesboro include duplexes, homes converted to apartments or other small apartment buildings ( 11.60%), large apartment complexes or high rise apartments ( 4.60%), and a few mobile homes or trailers ( 4.14%).
The most prevalent building size and type in Murfreesboro are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 42.75% owning and 57.25% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Murfreesboro's housing was primarily built during this period, from the '40s through the '60s. A full 42.08% of the town's housing hails from this era. Other housing ages represented in Murfreesboro include homes built between 1970-1999 ( 31.22%) and housing constructed before 1939 ( 14.36%). There's also some housing in Murfreesboro built between 2000 and later ( 12.34%).
Vacant housing appears to be an issue in Murfreesboro. Fully 10.50% of the housing stock is classified as vacant. Left unchecked, vacant Murfreesboro homes and apartments can be a drag on the real estate market, holding Murfreesboro 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.
Appreciation rates for homes in Murfreesboro have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 101.49%, which ranks in the top 40% nationwide. This equates to an annual average Murfreesboro house appreciation rate of 7.26%.
NeighborhoodScout's data show that during the latest twelve months, Murfreesboro's appreciation rate, at 7.43%, has been at or slightly above the national average. In the latest quarter, Murfreesboro's appreciation rate has been 1.46%, which annualizes to a rate of 5.95%.
Relative to North Carolina, our data show that Murfreesboro's latest annual appreciation rate is higher than 50% of the other cities and towns in North Carolina.
$189,497
for North carolina
for nation
972
$1,639 / per month