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 17,539 people, 5,729 houses or apartments, and a median cost of homes of $375,975, Leicester real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Leicester, accounting for 59.95% of the town's housing units. Other types of housing that are prevalent in Leicester include mobile homes or trailers ( 30.73%), large apartment complexes or high rise apartments ( 7.75%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Leicester. Owner-occupied housing accounts for 72.74% of Leicester's homes, and 64.19% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Leicester 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 Leicester built between 2000 and later ( 35.88%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.53%). There's also some housing in Leicester built before 1939 ( 5.61%).
Vacant housing appears to be an issue in Leicester. Fully 14.78% of the housing stock is classified as vacant. Left unchecked, vacant Leicester homes and apartments can be a drag on the real estate market, holding Leicester 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.
In the last 10 years, Leicester has experienced some of the highest home appreciation rates of any community in the nation. Leicester real estate appreciated 124.01% over the last ten years, which is an average annual home appreciation rate of 8.40%, putting Leicester in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Leicester definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Leicester that despite a nationwide downturn in the housing market, Leicester real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Leicester appreciation rates continue to be some of the highest in America, at 12.48%, which is higher than appreciation rates in 75.75% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Leicester. Leicester appreciation rates in the latest quarter were at 3.08%, which equates to an annual appreciation rate of 12.92%.
Relative to North Carolina, our data show that Leicester's latest annual appreciation rate is higher than 70% of the other cities and towns in North Carolina.
$375,975
for North carolina
for nation
5,729
$1,880 / per month