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 1,914, 688 total housing units (homes and apartments), and a median house value of $96,245, house prices in Great Falls are some of the most affordable in South Carolina as well as the nation.
Single-family detached homes are the single most common housing type in Great Falls, accounting for 87.88% of the town's housing units. Other types of housing that are prevalent in Great Falls include mobile homes or trailers ( 7.39%), duplexes, homes converted to apartments or other small apartment buildings ( 2.42%), and a few large apartment complexes or high rise apartments ( 2.30%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Great Falls. Owner-occupied housing accounts for 81.54% of Great Falls's homes, and 52.24% 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. Great Falls's housing was primarily built during this period, from the '40s through the '60s. A full 45.94% of the town's housing hails from this era. Other housing ages represented in Great Falls include homes built between 1970-1999 ( 29.82%) and housing constructed before 1939 ( 24.24%).
Vacant housing appears to be an issue in Great Falls. Fully 16.61% of the housing stock is classified as vacant. Left unchecked, vacant Great Falls homes and apartments can be a drag on the real estate market, holding Great Falls 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, Great Falls has experienced some of the highest home appreciation rates of any community in the nation. Great Falls real estate appreciated 128.23% over the last ten years, which is an average annual home appreciation rate of 8.60%, putting Great Falls in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Great Falls definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Great Falls's appreciation rate, at 7.44%, has been at or slightly above the national average. In the latest quarter, Great Falls's appreciation rate has been 1.72%, which annualizes to a rate of 7.07%.
Relative to South Carolina, our data show that Great Falls's latest annual appreciation rate is lower than 70% of the other cities and towns in South Carolina.
$96,245
for South carolina
for nation
688
$1,350 / per month