Carrboro, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Carrboro, NC Real Estate Data


Carrboro Housing Market Information

With a population of 21,156, 8,673 total housing units (homes and apartments), and a median house value of $336,612, Carrboro house prices are not only among the most expensive in North Carolina, Carrboro real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in Carrboro, accounting for 42.61% of the town's housing units. Other types of housing that are prevalent in Carrboro include single-family detached homes ( 40.66%), row houses and other attached homes ( 8.41%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.00%). Towns that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of towns are often walkable and compact, and often have a lively downtown.

People in Carrboro primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Carrboro has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Carrboro built from 1970 to 1999 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 Carrboro built between 1940-1969 ( 21.09%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.75%). There's also some housing in Carrboro built before 1939 ( 3.11%).

Carrboro Home Appreciation Rates

In the last 10 years, Carrboro has experienced some of the highest home appreciation rates of any community in the nation. Carrboro real estate appreciated 20.49% over the last ten years, which is an average annual home appreciation rate of 1.88%, putting Carrboro in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Carrboro definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Carrboro's appreciation rate, at 4.50%, has been at or slightly above the national average. In the latest quarter, Carrboro's appreciation rate has been 1.34%, which annualizes to a rate of 5.48%.

Relative to North Carolina, our data show that Carrboro's latest annual appreciation rate is lower than 50% 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 Carrboro differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Carrboro - 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 2000, to assist you in making the best Carrboro real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$336,612

Carrboro, NC HOME PRICES

Value Range
> $1,174,000 0.9
$881,001 - $1,174,000 1.1
$587,001 - $881,000 9.6
$470,001 - $587,000 11.8
$352,001 - $470,000 18.7
$235,001 - $352,000 30.0
$118,001 - $235,000 22.1
$59,001 - $118,000 2.2
$0 - $59,000 3.6

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
13.5328219242256 5.44464609800363

Number Of Homes And Apartments:
8,673

Rent & Ownership

 

Average Market Rent:
$1,080 / per month

Homeownership Rate

Homeownership
Owners 37.26
Renters 62.74
Vacant 6.79

Housing Market Details

 

Age of Homes

AGE OF Carrboro HOMES
2000 or Newer 12.7
1970 - 1999 63.1
1940 - 1969 21.1
1939 or Older 3.1

Types of Homes

TYPE OF Carrboro HOMES
Single-Family 40.7
Townhomes 8.4
Small Apt. Buildings 7.0
Apt. Complexes 42.6
Mobile Homes 1.3
Other 0.0

Home Size

SIZE OF Carrboro HOMES
No Bedroom 2.57
1 Bedroom 18.13
2 Bedrooms 39.01
3 Bedrooms 21.53
4 Bedrooms 13.93
5 or more bedrooms 4.84

Carrboro Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
77.38% 3.43% 10 9
* 10 is highest