Murphy – Cherokee County has experienced a significant increase in the price per square foot of a home, the ninth-highest increase among North Carolina’s 100 counties and the 293rd highest in the nation, according to a study.
The study was conducted by SmartAsset, which analyzed the price per-square-foot of a home in counties throughout the nation.
“To assess shifts in property values, we calculated the change in the median price per square foot for each county, ranking them to highlight areas with the most significant growth,” Steve Sabato of SmartAsset said in a release.
“We also evaluated changes in property size by measuring the percentage change in median square footage over the same period.”
With a price per-square-foot percentage change of 98.47%, Cherokee County ranked ninth highest in North Carolina, just behind Hyde County and just ahead of Richmond County.
Edgecombe County had the biggest change at 135.09% in North Carolina. The statewide average was 66.37%, according to SmartAsset data.
Other counties in the region were:
- Clay County, 83.46%.
- Graham County, 79.27%.
- Swain County, 49.46%.
- Macon County, 82.91%.
- Jackson County, 74.33%.
- Haywood County, 75.31%.
- Transylvania County, 79.14%.
- Buncombe County, 56.46%.
Across the state line, Union and Fannin County, Ga., reported numbers similar to Cherokee County, while Towns County, Ga., saw an increase of 106.11%.
In Tennessee, Polk County’s change was 103.64%, ninth highest in that state, with Monroe County reporting in at 98.25%, similar to Cherokee County.
The biggest change nationwide was Thomas County, Neb., at 966.67% change.
Affordable housing has been an issue in Cherokee County affecting hiring at manufacturing facilities, law enforcement agencies, schools, health care services and service industries, among others.