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 1,220, 390 total housing units (homes and apartments), and a median house value of $195,971, house prices in Franklinville are solidly below the national average.
Mobile homes or trailers are the single most common housing type in Franklinville, accounting for 59.57% of the town's housing units. Other types of housing that are prevalent in Franklinville include single-family detached homes ( 39.35%), duplexes, homes converted to apartments or other small apartment buildings ( 1.08%).
The most prevalent building size and type in Franklinville are three and four bedroom dwellings, chiefly found in mobile homes or trailers. The town has a mixture of owners and renters, with 46.12% owning and 53.88% renting.
There is a lot of housing in Franklinville 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 Franklinville built between 2000 and later ( 20.65%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.77%). There's also some housing in Franklinville built before 1939 ( 7.96%).
Vacant housing appears to be an issue in Franklinville. Fully 16.13% of the housing stock is classified as vacant. Left unchecked, vacant Franklinville homes and apartments can be a drag on the real estate market, holding Franklinville 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 Franklinville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 112.61%, which ranks in the top 30% nationwide. This equates to an annual average Franklinville house appreciation rate of 7.83%.
Appreciation rates are so strong in Franklinville that despite a nationwide downturn in the housing market, Franklinville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Franklinville appreciation rates continue to be some of the highest in America, at 9.05%, which is higher than appreciation rates in 81.17% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Franklinville. Franklinville appreciation rates in the latest quarter were at 3.97%, which equates to an annual appreciation rate of 16.84%.
Importantly, this makes Franklinville one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to North Carolina, our data show that Franklinville's latest annual appreciation rate is higher than 80% of the other cities and towns in North Carolina.
$195,971
for North carolina
for nation
390
$1,562 / per month