Hoffman, NC—28347
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hoffman, NC
Hoffman, 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 — Hoffman, NC
Hoffman, 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 — Hoffman, NC
Hoffman, NC lacks sufficient listing trend data for analysis.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | N/A | N/A |
Listing Count | N/A | N/A |
| Listings as % of Homes | N/A | N/A |
Days on Market | N/A | N/A |
Demographics — Hoffman, NC
As of the latest ACS Survey released in 2023, Hoffman, NC has a population of 1,970, which has decreased by -15.6% over the past 5 years. Hoffman, NC is a moderately popular place for families, as children make up 15.6% of the population. The area has a poorly educated workforce, with 6.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 1.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,970 | -15.6% |
% Under 18 | 15.6% | -44.3% |
% Seniors | 5.4% | 10.2% |
% WFH | 1.5% | -50.0% |
% w/ College Degree | 6.9% | 176.0% |
As of the latest ACS Survey released in 2023, Hoffman, NC is a predominantly black area, with 56.1% of the population identifying as black. The black population has grown by 45.0% in the last 5 years. The second most common race or ethnicity in Hoffman, NC is white, making up 24.7% of the population. Foreign-born residents account for 6.8% of the population in Hoffman, NC, and this percentage has decreased by 64.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 24.7% | 6.5% |
% Black | 56.1% | 45.0% |
% Hispanic | 10.8% | -69.6% |
% Asian | 0.3% | ∞% |
% Foreign Born | 6.8% | -64.6% |
Mortgage and Risk — Hoffman, NC
According to HUD data as of 2023, there were 44 mortgage originations in Hoffman, NC, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Hoffman, NC. Investor activity is low, as 0.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 44 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Hoffman, NC
Hoffman, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 3 |
Total Units Section 8 | 2 |
% 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 | $900 |
| 2 Bedroom | N/A | N/A | $1,000 |
| 3 Bedroom | N/A | N/A | $1,400 |
| 4 Bedroom | N/A | N/A | $1,680 |
Affordability — Hoffman, 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 | $39,400 |