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 4,588 people, 1,897 houses or apartments, and a median cost of homes of $219,028, house prices in Grafton are solidly below the national average.
Single-family detached homes are the single most common housing type in Grafton, accounting for 84.44% of the city's housing units. Other types of housing that are prevalent in Grafton include large apartment complexes or high rise apartments ( 8.09%), duplexes, homes converted to apartments or other small apartment buildings ( 5.16%), and a few mobile homes or trailers ( 1.38%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Grafton. Owner-occupied housing accounts for 77.10% of Grafton's homes, and 60.93% have either three or four bedrooms, which is average sized relative to America.
The housing in Grafton was primarily built before 1939 ( 53.78%), making the housing stock in Grafton some of the oldest overall in America, although there is a range of ages of homes in Grafton. The next most important housing age is between 1940-1969 ( 20.31%), followed by between 1970-1999 ( 19.56%). There's also some housing in Grafton built between 2000 and later ( 6.36%).
Vacant housing appears to be an issue in Grafton. Fully 15.69% of the housing stock is classified as vacant. Left unchecked, vacant Grafton homes and apartments can be a drag on the real estate market, holding Grafton 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.
Real estate appreciation rates in Grafton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.17% during the period.
Appreciation rates are so strong in Grafton that despite a nationwide downturn in the housing market, Grafton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Grafton appreciation rates continue to be some of the highest in America, at 17.25%, which is higher than appreciation rates in 98.57% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Grafton. Grafton appreciation rates in the latest quarter were at 1.56%, which equates to an annual appreciation rate of 6.39%.
Relative to West Virginia, our data show that Grafton's latest annual appreciation rate is higher than 60% of the other cities and towns in West Virginia.
$219,028
for West virginia
for nation
1,897
$798 / per month