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 272 people, 246 houses or apartments, and a median cost of homes of $91,940, house prices in Patrick 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 Patrick, accounting for 60.38% of the town's housing units. Other types of housing that are prevalent in Patrick include mobile homes or trailers ( 33.85%), large apartment complexes or high rise apartments ( 5.00%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Patrick. Owner-occupied housing accounts for 68.70% of Patrick's homes, and 56.92% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Patrick 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 Patrick built between 1940-1969 ( 33.46%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.62%). There's also some housing in Patrick built before 1939 ( 8.08%).
Patrick's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Patrick during the period has been just 4.94%, which is lower than 80% of US communities.
Appreciation rates are so strong in Patrick that despite a nationwide downturn in the housing market, Patrick real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Patrick appreciation rates continue to be some of the highest in America, at 12.00%, which is higher than appreciation rates in 93.63% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Patrick. Patrick appreciation rates in the latest quarter were at 0.52%, which equates to an annual appreciation rate of 2.08%.
Notably, Patrick's appreciation rate in the latest quarter is one of the lowest in America.
Relative to South Carolina, our data show that Patrick's latest annual appreciation rate is higher than 70% of the other cities and towns in South Carolina.
$91,940
for South carolina
for nation
246
$1,562 / per month