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 6,400 people, 2,724 houses or apartments, and a median cost of homes of $404,627, Boiling Spring Lakes real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Boiling Spring Lakes, accounting for 75.47% of the city's housing units. Other types of housing that are prevalent in Boiling Spring Lakes include mobile homes or trailers ( 22.59%), row houses and other attached homes ( 1.94%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Boiling Spring Lakes. Owner-occupied housing accounts for 77.15% of Boiling Spring Lakes's homes, and 78.25% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Boiling Spring Lakes 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 Boiling Spring Lakes built between 2000 and later ( 39.28%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.63%).
Vacant housing appears to be an issue in Boiling Spring Lakes. Fully 14.88% of the housing stock is classified as vacant. Left unchecked, vacant Boiling Spring Lakes homes and apartments can be a drag on the real estate market, holding Boiling Spring Lakes 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 Boiling Spring Lakes have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 113.60%, which ranks in the top 30% nationwide. This equates to an annual average Boiling Spring Lakes house appreciation rate of 7.89%.
Over the last year, Boiling Spring Lakes appreciation rates have trailed the rest of the nation. In the last twelve months, Boiling Spring Lakes's appreciation rate has been 4.74%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Boiling Spring Lakes were at 0.62%, which equates to an annual appreciation rate of 2.49%.
Notably, Boiling Spring Lakes's appreciation rate in the latest quarter is one of the lowest in America.
Relative to North Carolina, our data show that Boiling Spring Lakes's latest annual appreciation rate is lower than 70% of the other cities and towns in North Carolina.
$404,627
for North carolina
for nation
2,724
$1,866 / per month