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 1,872 people, 801 houses or apartments, and a median cost of homes of $332,553, Sparta real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Sparta, accounting for 70.99% of the town's housing units. Other types of housing that are prevalent in Sparta include large apartment complexes or high rise apartments ( 19.02%), duplexes, homes converted to apartments or other small apartment buildings ( 6.38%), and a few mobile homes or trailers ( 2.66%).
The most prevalent building size and type in Sparta are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 58.28% owning and 41.72% renting.
There is a lot of housing in Sparta 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 Sparta built between 1940-1969 ( 47.50%). A lesser amount of the housing stock also hails from between 2000 and later ( 2.87%). There's also some housing in Sparta built before 1939 ( 1.91%).
Vacant housing appears to be an issue in Sparta. Fully 14.88% of the housing stock is classified as vacant. Left unchecked, vacant Sparta homes and apartments can be a drag on the real estate market, holding Sparta 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, Sparta has experienced some of the highest home appreciation rates of any community in the nation. Sparta real estate appreciated 131.00% over the last ten years, which is an average annual home appreciation rate of 8.73%, putting Sparta in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Sparta 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 Sparta that despite a nationwide downturn in the housing market, Sparta real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Sparta appreciation rates continue to be some of the highest in America, at 18.57%, which is higher than appreciation rates in 99.10% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Sparta. Sparta 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 Sparta's latest annual appreciation rate is higher than 90% of the other cities and towns in North Carolina.
$332,553
for North carolina
for nation
801
$1,281 / per month