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 31,539 people, 14,182 houses or apartments, and a median cost of homes of $260,226, New Bern real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in New Bern, accounting for 63.70% of the city's housing units. Other types of housing that are prevalent in New Bern include large apartment complexes or high rise apartments ( 17.81%), duplexes, homes converted to apartments or other small apartment buildings ( 7.19%), and a few mobile homes or trailers ( 6.16%).
The most prevalent building size and type in New Bern are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.59% owning and 42.41% renting.
There is a lot of housing in New Bern 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 New Bern built between 2000 and later ( 35.41%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.05%). There's also some housing in New Bern built before 1939 ( 7.35%).
Vacant housing appears to be an issue in New Bern. Fully 12.81% of the housing stock is classified as vacant. Left unchecked, vacant New Bern homes and apartments can be a drag on the real estate market, holding New Bern 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 New Bern have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 93.06%, which ranks in the top 50% nationwide. This equates to an annual average New Bern house appreciation rate of 6.80%.
Over the last year, New Bern appreciation rates have trailed the rest of the nation. In the last twelve months, New Bern's appreciation rate has been 5.07%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Bern were at 4.29%, which equates to an annual appreciation rate of 18.30%.
Importantly, this makes New Bern one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to North Carolina, our data show that New Bern's latest annual appreciation rate is lower than 70% of the other cities and towns in North Carolina.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within New Bern differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Bern - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best New Bern real estate investment or home purchase decisions.
$260,226
for North carolina
for nation
14,182
$2,293 / per month