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 5,973 people, 2,291 houses or apartments, and a median cost of homes of $155,300, house prices in Hamlet are some of the most affordable in North Carolina as well as the nation.
Single-family detached homes are the single most common housing type in Hamlet, accounting for 73.10% of the city's housing units. Other types of housing that are prevalent in Hamlet include duplexes, homes converted to apartments or other small apartment buildings ( 16.58%), large apartment complexes or high rise apartments ( 7.43%), and a few mobile homes or trailers ( 2.14%).
The most prevalent building size and type in Hamlet are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.87% owning and 45.13% 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. Hamlet's housing was primarily built during this period, from the '40s through the '60s. A full 50.13% of the city's housing hails from this era. Other housing ages represented in Hamlet include homes built between 1970-1999 ( 28.83%) and housing constructed before 1939 ( 10.79%). There's also some housing in Hamlet built between 2000 and later ( 10.25%).
Vacant housing appears to be an issue in Hamlet. Fully 18.15% of the housing stock is classified as vacant. Left unchecked, vacant Hamlet homes and apartments can be a drag on the real estate market, holding Hamlet 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 Hamlet's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.21% during the period.
Appreciation rates are so strong in Hamlet that despite a nationwide downturn in the housing market, Hamlet real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hamlet appreciation rates continue to be some of the highest in America, at 12.22%, which is higher than appreciation rates in 94.12% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hamlet. Hamlet appreciation rates in the latest quarter were at 1.46%, which equates to an annual appreciation rate of 5.95%.
Relative to North Carolina, our data show that Hamlet's latest annual appreciation rate is higher than 90% of the other cities and towns in North Carolina.
$155,300
for North carolina
for nation
2,291
$1,110 / per month