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 224, 81 total housing units (homes and apartments), and a median house value of $136,094, house prices in Nichols 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 Nichols, accounting for 87.12% of the town's housing units. Other types of housing that are prevalent in Nichols include mobile homes or trailers ( 12.88%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Nichols. Owner-occupied housing accounts for 85.19% of Nichols's homes, and 76.69% 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. Nichols's housing was primarily built during this period, from the '40s through the '60s. A full 44.17% of the town's housing hails from this era. Other housing ages represented in Nichols include homes built between 1970-1999 ( 38.04%) and housing constructed before 1939 ( 15.34%). There's also some housing in Nichols built between 2000 and later ( 2.45%).
Vacant housing appears to be an issue in Nichols. Fully 50.31% of the housing stock is classified as vacant. Left unchecked, vacant Nichols homes and apartments can be a drag on the real estate market, holding Nichols 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 Nichols have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 103.88%, which ranks in the top 40% nationwide. This equates to an annual average Nichols house appreciation rate of 7.38%.
Appreciation rates are so strong in Nichols that despite a nationwide downturn in the housing market, Nichols real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Nichols appreciation rates continue to be some of the highest in America, at 19.44%, which is higher than appreciation rates in 99.33% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Nichols. Nichols appreciation rates in the latest quarter were at 0.52%, which equates to an annual appreciation rate of 2.08%.
Notably, Nichols's appreciation rate in the latest quarter is one of the lowest in America.
Relative to South Carolina, our data show that Nichols's latest annual appreciation rate is higher than 90% of the other cities and towns in South Carolina.
$136,094
for South carolina
for nation
81
$1,025 / per month