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 6,269 people, 2,779 houses or apartments, and a median cost of homes of $360,214, Vilas real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Vilas, accounting for 78.88% of the town's housing units. Other types of housing that are prevalent in Vilas include mobile homes or trailers ( 14.09%), duplexes, homes converted to apartments or other small apartment buildings ( 5.33%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Vilas. Owner-occupied housing accounts for 84.85% of Vilas's homes, and 67.49% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Vilas 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 Vilas built between 1940-1969 ( 21.52%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.44%). There's also some housing in Vilas built before 1939 ( 10.07%).
Vacant housing appears to be an issue in Vilas. Fully 23.68% of the housing stock is classified as vacant. Left unchecked, vacant Vilas homes and apartments can be a drag on the real estate market, holding Vilas 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, Vilas has experienced some of the highest home appreciation rates of any community in the nation. Vilas real estate appreciated 121.12% over the last ten years, which is an average annual home appreciation rate of 8.26%, putting Vilas in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Vilas 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 Vilas that despite a nationwide downturn in the housing market, Vilas real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Vilas appreciation rates continue to be some of the highest in America, at 9.53%, which is higher than appreciation rates in 84.56% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Vilas. Vilas appreciation rates in the latest quarter were at 1.46%, which equates to an annual appreciation rate of 5.96%.
Relative to North Carolina, our data show that Vilas's latest annual appreciation rate is higher than 80% of the other cities and towns in North Carolina.
$360,214
for North carolina
for nation
2,779
$1,934 / per month