Raleigh appreciation rates and housing market information

Raleigh housing market information

With 276,579 people, 120,683 houses or apartments, and a median cost of homes of $247,574, Raleigh real estate is some of the most expensive in North Carolina, although Raleigh home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Raleigh, accounting for 46.90% of the city's housing units. Other types of housing that are prevalent in Raleigh include large apartment complexes or high rise apartments (31.35%), duplexes, homes converted to apartments, or other small apartment buildings (11.20%), row houses and other attached homes (9.16%), and a few mobile homes or trailers (1.38%).

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

There is a lot of housing in Raleigh 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 Raleigh built from 1940-1969 (24.65%). A lesser amount of the housing stock also hails from 1995 and later (16.96%), and some were built from 1939 and earlier (16.96%).

Raleigh home appreciation rates

Raleigh's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Raleigh during the period has been just 6.17%, which is lower than % of US communities.

Appreciation rates are so strong in Raleigh that despite a nationwide downturn in the housing market, Raleigh real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Raleigh appreciation rates continue to be some of the highest in America, at 2.79%, which is higher than appreciation rates in 73% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Raleigh. Raleigh appreciation rates in the latest quarter were at -0.29%, which equates to an annual appreciation rate of -1.16%.

Relative to North Carolina, our data show that Raleigh's latest annual appreciation rate is higher than 58% 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 city. Individual neighborhoods within Raleigh differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Raleigh - 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 Raleigh real estate investment or home purchase decisions.