Solola Valley, NC—28719
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Solola Valley, NC
Solola Valley, NC lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | N/A | N/A |
| Single Family | N/A | N/A |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Solola Valley, NC
Solola Valley, NC lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Solola Valley, NC
Solola Valley, NC lacks sufficient listing trend data for analysis.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $55,000 | N/A |
Listing Count | 3 | N/A |
| Listings as % of Homes | N/A | N/A |
Days on Market | 285 | N/A |
Demographics — Solola Valley, NC
As of the latest ACS Survey released in 2023, Solola Valley, NC has a population of 6,580, which has decreased by -18.0% over the past 5 years. Solola Valley, NC is a moderately popular place for families, as children make up 24.5% of the population. The area has a poorly educated workforce, with 14.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,580 | -18.0% |
% Under 18 | 24.5% | -6.5% |
% Seniors | 17.2% | 19.4% |
% WFH | 5.9% | 78.8% |
% w/ College Degree | 14.0% | 7.7% |
As of the latest ACS Survey released in 2023, Solola Valley, NC is a predominantly white area, with 11.3% of the population identifying as white. The white population has shrunk by 27.1% in the last 5 years. The second most common race or ethnicity in Solola Valley, NC is hispanic, making up 5.6% of the population. Foreign-born residents account for 3.1% of the population in Solola Valley, NC, and this percentage has increased by 40.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 11.3% | -27.1% |
% Black | 1.3% | 62.5% |
% Hispanic | 5.6% | -3.4% |
% Asian | 1.8% | 38.5% |
% Foreign Born | 3.1% | 40.9% |
Mortgage and Risk — Solola Valley, NC
According to HUD data as of 2023, there were 61 mortgage originations in Solola Valley, NC, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Solola Valley, NC. Investor activity is low, as 3.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 61 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 3.0% |
% Second Loans | 10.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Solola Valley, NC
Solola Valley, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 10 |
Total Units Section 8 | 10 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,000 |
| 2 Bedroom | N/A | N/A | $1,120 |
| 3 Bedroom | N/A | N/A | $1,350 |
| 4 Bedroom | N/A | N/A | $1,530 |
Affordability — Solola Valley, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | N/A |
| Median Home Price | N/A |
| Median Household Income | $52,200 |