Hickory (Charlotte, Asheville, Statesville: apartments, rentals, houses)

[Richard Wert]

Can anyone give me some info. on the Hickory area, housing, growth, weather, ect.

[Colorado Raven]

Hi, there
try to look online under the Statesville NC data. This is what I had to do.
I posted a thread about 3 days ago about different questions and still have gotten no replies. So since we (my family and pets) are going to relocate, I guess we'll be on are own. If I find anymore information about surrounding areas, I'll send you some. Right now we are looking at areas, like Mooresville, Davidson, Cornelius etc.
Good luck and God bless

[Lend27]

I recently did a ton of research on the Hickory area and bought a house there.
We really like the area. Every area in NC has both pros and cons. It all depends on what you are looking for.
The weather is moderate. It is in the foothills. Hickory gets about a foot of snow in the winter, although this past winter only saw about 2 inches.
Housing is available in all price ranges. On the lake is pricier but still relatively affordable. It all depends on where you are coming from to determine if you consider it affordable. We bought a new construction 4 bedroom, 2.5 bath house with lots of hardwood, tile etc, on .75 acres with a full basement in a nice neighborhood near the lake for $280,000.
The area has been dealing with a loss of jobs in the furniture industry, but it appears to be on the upswing. Unemployment in the area is running around 5.5 percent. Manufacturing is still the dominant employer but the service sector is showing real growth.
One of the reasons we chose the hickory area is the fact that it is still relatively undiscovered. More people choose to go further south to Charlotte, east to Raliegh, or west to Asheville. Those areas are now becoming overcrowded, which is the opposite of what we are looking for.
Any other questions let me know.

Len

[Richard Wert]

We will probably be looking in the

$100,000 to 150,000 range. Hopefully getting a forclosure to fix up. We also will be purchasing up to 4 homes for rentals. Hopefully in the 60-70k range. Can you tell me what the renyals are getting per month, and do you feal someone could come in and flip homes for a living in that area?

[Lend27]

Rents are in the $450 monthly range for apartments.
Probably $650 for a house or more depending upon location.
I don't see it as a good area to flip property as in reselling it. There are alot of low priced houses on the market and appreciation isn't great.
I do know someone who is buying fixer uppers and then renting them out. his latest acquisition is a 3 bedroom house that he bought for $30,000.
Buying, fixing and renting seems viable. I may do that myself.

You should be able to find a decent house for $150,000. If you work with a realtor, they can advise you about areas to avoid.
If you need the name of a good realtor in the area let me know. The one we worked with was top notch.

Len

[mm34b]

Hickory Climate

Average July
High 87.8F
Low 67.6F

Average January
High 48.8F
Low 29.2

Average Annual Precipitation
48.98"

Data from the NC State Climate Office