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 580, 329 total housing units (homes and apartments), and a median house value of $162,618, house prices in Newton Grove are some of the most affordable in North Carolina as well as the nation.
Single-family detached homes are the single most common housing type in Newton Grove, accounting for 76.15% of the town's housing units. Other types of housing that are prevalent in Newton Grove include mobile homes or trailers ( 11.92%), duplexes, homes converted to apartments or other small apartment buildings ( 9.49%), and a few large apartment complexes or high rise apartments ( 2.44%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Newton Grove. Owner-occupied housing accounts for 67.36% of Newton Grove's homes, and 73.98% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Newton Grove's housing was primarily built during this period, from the '40s through the '60s. A full 40.65% of the town's housing hails from this era. Other housing ages represented in Newton Grove include homes built between 2000 and later ( 24.93%) and housing constructed between 1970-1999 ( 24.66%). There's also some housing in Newton Grove built before 1939 ( 9.76%).
Vacant housing appears to be an issue in Newton Grove. Fully 10.84% of the housing stock is classified as vacant. Left unchecked, vacant Newton Grove homes and apartments can be a drag on the real estate market, holding Newton Grove 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.
Newton Grove's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Newton Grove during the period has been just 5.09%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Newton Grove's appreciation rate, at 7.17%, has been at or slightly above the national average. In the latest quarter, Newton Grove's appreciation rate has been 1.46%, which annualizes to a rate of 5.95%.
Relative to North Carolina, our data show that Newton Grove's latest annual appreciation rate is higher than 50% of the other cities and towns in North Carolina.
$162,618
for North carolina
for nation
329
$1,599 / per month