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 258, 128 total housing units (homes and apartments), and a median house value of $222,812, house prices in Ridgeway are solidly below the national average.
Single-family detached homes are the single most common housing type in Ridgeway, accounting for 84.28% of the town's housing units. Other types of housing that are prevalent in Ridgeway include large apartment complexes or high rise apartments ( 6.92%), duplexes, homes converted to apartments or other small apartment buildings ( 5.66%), and a few mobile homes or trailers ( 3.14%).
Dwellings in Ridgeway tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 45.91% of the homes in Ridgeway have two or fewer bedrooms.
There is a lot of housing in Ridgeway 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 Ridgeway built before 1939 ( 38.36%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.58%). There's also some housing in Ridgeway built between 1940-1969 ( 7.55%).
Vacant housing appears to be an issue in Ridgeway. Fully 19.50% of the housing stock is classified as vacant. Left unchecked, vacant Ridgeway homes and apartments can be a drag on the real estate market, holding Ridgeway 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 Ridgeway's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.23% during the period.
Appreciation rates are so strong in Ridgeway that despite a nationwide downturn in the housing market, Ridgeway real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ridgeway appreciation rates continue to be some of the highest in America, at 15.57%, which is higher than appreciation rates in 88.55% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ridgeway. Ridgeway appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.65%.
Relative to South Carolina, our data show that Ridgeway's latest annual appreciation rate is higher than 60% of the other cities and towns in South Carolina.
$222,812
for South carolina
for nation
128
$1,430 / per month