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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Woodfin, NC Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Woodfin, NC Housing Market Trends

With a population of 8,072, 2,958 total housing units (homes and apartments), and a median house value of $494,692, Woodfin real estate is some of the most expensive in North Carolina, although Woodfin home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Woodfin, accounting for 57.92% of the town's housing units. Other types of housing that are prevalent in Woodfin include large apartment complexes or high rise apartments ( 22.91%), mobile homes or trailers ( 9.99%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.05%).

People in Woodfin primarily live in small (one, two or no bedroom) single-family detached homes. Woodfin has a mixture of owner-occupied and renter-occupied housing.

Woodfin homes and real estate are some of the newest in America. 44.01% of Woodfin's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Woodfin real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 29.26%), and before 1939 ( 15.09%). There's also some housing in Woodfin built between 1940-1969 ( 11.64%).

Vacant housing appears to be an issue in Woodfin. Fully 22.65% of the housing stock is classified as vacant. Left unchecked, vacant Woodfin homes and apartments can be a drag on the real estate market, holding Woodfin 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.

Woodfin Home Appreciation Rates

In the last 10 years, Woodfin has experienced some of the highest home appreciation rates of any community in the nation. Woodfin real estate appreciated 133.38% over the last ten years, which is an average annual home appreciation rate of 8.84%, putting Woodfin in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Woodfin 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 Woodfin that despite a nationwide downturn in the housing market, Woodfin real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Woodfin appreciation rates continue to be some of the highest in America, at 15.92%, which is higher than appreciation rates in 89.39% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Woodfin. Woodfin appreciation rates in the latest quarter were at 4.16%, which equates to an annual appreciation rate of 17.70%.

Relative to North Carolina, our data show that Woodfin's latest annual appreciation rate is higher than 80% of the other cities and towns in North Carolina.

Average Home Values

Median Home Value

$494,692

Woodfin, NC Home Prices
> $1,546,000
$1,159,001 - $1,546,000
$773,001 - $1,159,000
$618,001 - $773,000
$464,001 - $618,000
$310,001 - $464,000
$155,001 - $310,000
$77,001 - $155,000
$0 - $77,000
9.1%
9.1%
3.5%
3.5%
13.1%
13.1%
12.6%
12.6%
17.6%
17.6%
21.8%
21.8%
14.3%
14.3%
4.3%
4.3%
3.6%
3.6%
0% 100.0%
% of Homes
Very High

for North carolina

Very High

for nation

Number of Homes And Apartments:

2,958

Woodfin Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,681 / per month

Homeownership Rate

Owners
Renters
48.6%
48.6%
51.4%
51.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
22.6%
22.6%
77.4%
77.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
44.0%
44.0%
29.3%
29.3%
11.6%
11.6%
15.1%
15.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
57.9%
57.9%
1.1%
1.1%
8.1%
8.1%
22.9%
22.9%
10.0%
10.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
5.4%
5.4%
10.6%
10.6%
37.3%
37.3%
37.1%
37.1%
8.1%
8.1%
1.5%
1.5%
0% 100.0%
% of Homes