Fayetteville, North Carolina

$103, 713 is Fayetteville, North Carolina’s median house value. The value of Fayetteville houses in the last year has gone up 4.7 percent. In the next year, 4.3 percent is the amount of increase of house values predicted for Fayetteville. The median income in Fayetteville is $44,514.

Fayetteville has a per square foot list median cost of $82. The metro area of Fayetteville has a higher per square foot list median cost of $86.

For Fayetteville houses presently listed, $134,900 is the median cost of houses. Fayetteville has a rent cost median of $900. This is lower than the rent cost median of $950 in the Fayetteville Metro.

For the next few years, the foreclosure rate will have an impact on the value of houses. As a rule, when the number of foreclosures increases, the greater the decline of home values. Short sales have a similar impact on home values.

For every 10,000 in Fayetteville, 7.6 houses go through foreclosure. The United States has a much lower foreclosure rate of 1.6 for every 10,000.

The first thing that happens when a homeowner goes through the foreclosure process is experiencing a mortgage delinquency. What does it mean to have a delinquent mortgage? When the owner of a house misses a payment on their home, they are delinquent on their mortgage.

2.7 percent of Fayetteville houses have mortgage delinquency. In the United States, there is a lower mortgage delinquency rate, which is 1.6%.

In 2008, there was a big recession which caused the value of houses nationally to drop greater than 20 percent. Presently, quite a few owners of houses are experiencing being underwater regarding their mortgages.

How is being underwater on a mortgage defined? It is the condition of the homeowner having a mortgage debt which is bigger than the worth of their house.

There is a large percentage of owners of mortgages being underwater in Fayetteville. It’s 27.4 percent. Fayetteville Metro has a lower percentage of mortgages being underwater. It’s 23.1 percent.