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 a population of 8,451, 2,343 total housing units (homes and apartments), and a median house value of $291,600, Butner 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 Butner, accounting for 56.23% of the town's housing units. Other types of housing that are prevalent in Butner include mobile homes or trailers ( 20.99%), large apartment complexes or high rise apartments ( 15.67%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.61%).
The most prevalent building size and type in Butner are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 55.99% owning and 44.01% renting.
There is a lot of housing in Butner 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 Butner built between 2000 and later ( 26.20%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.92%). There's also some housing in Butner built before 1939 ( 1.32%).
Vacant housing appears to be an issue in Butner. Fully 16.35% of the housing stock is classified as vacant. Left unchecked, vacant Butner homes and apartments can be a drag on the real estate market, holding Butner 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 Butner have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 106.86%, which ranks in the top 30% nationwide. This equates to an annual average Butner house appreciation rate of 7.54%.
NeighborhoodScout's data show that during the latest twelve months, Butner's appreciation rate, at 6.97%, has been at or slightly above the national average. In the latest quarter, Butner's appreciation rate has been 2.64%, which annualizes to a rate of 10.98%.
Relative to North Carolina, our data show that Butner's latest annual appreciation rate is lower than 50% of the other cities and towns in North Carolina.
$291,600
for North carolina
for nation
2,343
$2,074 / per month