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 3,215, 937 total housing units (homes and apartments), and a median house value of $264,316, Louisburg 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 Louisburg, accounting for 60.72% of the town's housing units. Other types of housing that are prevalent in Louisburg include large apartment complexes or high rise apartments ( 21.25%), duplexes, homes converted to apartments or other small apartment buildings ( 14.17%), and a few mobile homes or trailers ( 2.02%).
Renters dominate Louisburg's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.
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. Louisburg's housing was primarily built during this period, from the '40s through the '60s. A full 36.98% of the town's housing hails from this era. Other housing ages represented in Louisburg include homes built between 1970-1999 ( 27.05%) and housing constructed between 2000 and later ( 21.16%). There's also some housing in Louisburg built before 1939 ( 14.81%).
Vacant housing appears to be an issue in Louisburg. Fully 13.80% of the housing stock is classified as vacant. Left unchecked, vacant Louisburg homes and apartments can be a drag on the real estate market, holding Louisburg 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 Louisburg have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 110.05%, which ranks in the top 30% nationwide. This equates to an annual average Louisburg house appreciation rate of 7.70%.
Over the last year, Louisburg appreciation rates have trailed the rest of the nation. In the last twelve months, Louisburg's appreciation rate has been 4.88%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Louisburg were at 1.24%, which equates to an annual appreciation rate of 5.07%.
Relative to North Carolina, our data show that Louisburg's latest annual appreciation rate is lower than 70% of the other cities and towns in North Carolina.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Louisburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Louisburg - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Louisburg real estate investment or home purchase decisions.
$264,316
for North carolina
for nation
937
$1,687 / per month