Chapel Hill appreciation rates and housing market information

Chapel Hill housing market information

With a population of 48,796, 19,084 total housing units (homes and apartments), and a median house value of $362,817, Chapel Hill house prices are not only among the most expensive in North Carolina, Chapel Hill real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Chapel Hill, accounting for 40.57% of the town's housing units. Other types of housing that are prevalent in Chapel Hill include large apartment complexes or high rise apartments (38.05%), duplexes, homes converted to apartments, or other small apartment buildings (12.13%), row houses and other attached homes (7.91%), and a few mobile homes or trailers (1.23%).

People in Chapel Hill primarily live in small (one, two, or no bedroom) single-family detached homes. Chapel Hill has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Chapel Hill built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Chapel Hill built from 1940-1969 (32.33%). A lesser amount of the housing stock also hails from 1995 and later (7.65%), and some were built from 1939 and earlier (7.65%).

Chapel Hill home appreciation rates

Real estate appreciation rates in Chapel Hill have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.73% during the period.

Appreciation rates are so strong in Chapel Hill that despite a nationwide downturn in the housing market, Chapel Hill real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Chapel Hill appreciation rates continue to be some of the highest in America, at 3.04%, which is higher than appreciation rates in 75% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Chapel Hill. Chapel Hill appreciation rates in the latest quarter were at 0.01%, which equates to an annual appreciation rate of 0.04%.

Relative to North Carolina, our data show that Chapel Hill's latest annual appreciation rate is higher than 63% of the other cities and towns in North Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Chapel Hill differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Chapel Hill - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Chapel Hill real estate investment or home purchase decisions.