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 51,617, 20,137 total housing units (homes and apartments), and a median house value of $390,889, Summerville real estate is some of the most expensive in South Carolina, although Summerville home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Summerville, accounting for 63.78% of the town's housing units. Other types of housing that are prevalent in Summerville include large apartment complexes or high rise apartments ( 20.92%), duplexes, homes converted to apartments or other small apartment buildings ( 5.66%), and a few row houses and other attached homes ( 5.24%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Summerville. Owner-occupied housing accounts for 68.06% of Summerville's homes, and 64.88% have either three or four bedrooms, which is average sized relative to America.
Summerville homes and real estate are some of the newest in America. 47.86% of Summerville's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Summerville real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 43.43%), and between 1940-1969 ( 6.89%). There's also some housing in Summerville built before 1939 ( 1.82%).
In the last 10 years, Summerville has experienced some of the highest home appreciation rates of any community in the nation. Summerville real estate appreciated 144.61% over the last ten years, which is an average annual home appreciation rate of 9.36%, putting Summerville in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Summerville 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 Summerville that despite a nationwide downturn in the housing market, Summerville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Summerville appreciation rates continue to be some of the highest in America, at 11.62%, which is higher than appreciation rates in 92.74% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Summerville. Summerville appreciation rates in the latest quarter were at 2.07%, which equates to an annual appreciation rate of 8.55%.
Relative to South Carolina, our data show that Summerville's latest annual appreciation rate is higher than 70% of the other cities and towns in South Carolina.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Summerville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Summerville - 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 Summerville real estate investment or home purchase decisions.
$390,889
for South carolina
for nation
20,137
$2,179 / per month