Home Prices In 17 Charlotte ZIP Codes Grew Faster Than Market

CHARLOTTE, NC — Two Charlotte ZIP codes had a “high” or “very high” environmental hazard risk index and over the past year, the median home price in 17 of the city’s ZIP codes appreciated faster than the U.S. market overall, according to a new report from ATTOM Data Solutions. The report found that nationally, home prices in ZIP codes in the highest 20 percent for environmental hazard risk grew faster than the market overall.

Median home prices in ZIP codes with a very high environmental hazard risk index grew faster than the overall market over the past year (7.4 percent), the past five years (57.1 percent) and the past 10 years (22.2 percent), according to the report. In the market overall, median home prices appreciated 7.1 percent over the past year, 51.1 percent over the past five years and 12.3 percent over the past 10 years.

ATTOM Data analyzed over 8,000 ZIP codes that had sufficient housing trend data for risk related to four environmental hazards: superfund sites, brownfields, polluters and poor air quality. A risk index was calculated for each hazard and a combined index was then calculated based on the four factors.

The highest environmental risk index for a ZIP code in the country was 497.

Below are the environmental hazard risks for 24 Charlotte ZIP codes:

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28207: Overall risk index: 97; median home prices grew 2 percent over the past year
28212: Overall risk index: 65; median home prices grew 14 percent over the past year
28202: Overall risk index: 51; median home prices grew 8 percent over the past year
28206: Overall risk index: 49; median home prices grew 18 percent over the past year
28213: Overall risk index: 48; median home prices grew 12 percent over the past year
28203: Overall risk index: 47; median home prices grew 10 percent over the past year
28216: Overall risk index: 44; median home prices grew 11 percent over the past year
28208: Overall risk index: 43; median home prices grew 33 percent over the past year
28214: Overall risk index: 43; median home prices grew 13 percent over the past year
28277: Overall risk index: 43; median home prices grew 10 percent over the past year
28204: Overall risk index: 42; median home prices grew 7 percent over the past year
28217: Overall risk index: 41; median home prices grew 17 percent over the past year
28205: Overall risk index: 40; median home prices grew 23 percent over the past year
28273: Overall risk index: 40; median home prices grew 12 percent over the past year
28278: Overall risk index: 40; median home prices grew 7 percent over the past year
28210: Overall risk index: 40; median home prices grew 6 percent over the past year
28270: Overall risk index: 40; median home prices grew 7 percent over the past year
28209: Overall risk index: 40; median home prices grew 8 percent over the past year
28226: Overall risk index: 40; median home prices did not grow over the past year
28211: Overall risk index: 40; median home prices dropped 1 percent over the past year
28215: Overall risk index: 39; median home prices grew 10 percent over the past year
28262: Overall risk index: 37; median home prices grew 13 percent over the past year
28269: Overall risk index: 37; median home prices grew 8 percent over the past year
28227: Overall risk index: 36; median home prices grew 9 percent over the past year

Homes in ZIP codes with a very high environmental hazard risk also had the lowest foreclosure rate, with the exception being ZIP codes that had the highest risk index for superfunds. The foreclosure rate for ZIP codes in the highest risk category for superfunds was more than 1.5 times that of the overall market rate.

Fifteen Charlotte ZIP codes (28207, 28202, 28206, 28203, 28208, 28277, 28204, 28205, 28273, 28278, 28210, 28270, 28209, 28226, 28211) had a foreclosure rate that was lower than the overall market rate (0.4 percent) while eight ZIP codes (28212, 28213, 28216, 28214, 28215, 28262, 28269, 28227) had a foreclosure rate that was higher than the market rate overall.

In the market overall, a total of 12.6 million single family homes and condos with a combined market value of $3.4 trillion were in ZIP codes in the top 20 percent for environmental hazard risk. The average market value of homes in these ZIP codes was $268,585 compared to an average market value of $329,217 in the market overall.

According to ATTOM, the top 10 ZIP codes for overall environmental hazard housing risk are:

Denver (80216) San Bernardino, California (92408)Sheridan, Oregon (97378)Saint Louis (63133)Haw River, North Carolina (27258)Riverside, California (92501)Santa Fe, California (90670)Tulsa, Oklahoma (74108)Tulsa, Oklahoma (74119)Houston (77042)

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