Carrboro, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Carrboro Neighborhoods Since 2000




Carrboro, NC Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Carrboro Housing Market Information

With 21,156 people, 8,723 houses or apartments, and a median cost of homes of $288,946, Carrboro real estate is some of the most expensive in North Carolina, although Carrboro home values aren't among America's most expensive.

Large apartment complexes or high rise apartments are the single most common housing type in Carrboro, accounting for 42.49% of the town's housing units. Other types of housing that are prevalent in Carrboro include single-family detached homes ( 40.77%), row houses and other attached homes ( 8.82%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.13%). 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 ( 20.14%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.97%). There's also some housing in Carrboro built before 1939 ( 2.63%).

Carrboro Home Appreciation Rates

Appreciation rates for homes in Carrboro have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.87%, which ranks in the top 30% nationwide. This equates to an annual average Carrboro house appreciation rate of 1.13%.

Over the last year, Carrboro appreciation rates have trailed the rest of the nation. In the last twelve months, Carrboro's appreciation rate has been 1.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Carrboro were at 0.02%, which equates to an annual appreciation rate of 0.08%.

Relative to North Carolina, our data show that Carrboro's latest annual appreciation rate is lower than 60% 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:
$288,946

Carrboro, NC HOME PRICES

Value Range
> $1,112,000 0.7
$834,001 - $1,112,000 2.1
$556,001 - $834,000 8.6
$445,001 - $556,000 11.3
$333,001 - $445,000 16.5
$223,001 - $333,000 29.9
$111,001 - $223,000 25.0
$55,001 - $111,000 0.9
$0 - $55,000 4.9

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
17.42060236728 8.8929219600726

Number Of Homes And Apartments:
8,723

Carrboro Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
70.34% 3.14% 10 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,254 / per month

Homeownership Rate

Homeownership
Owners 39.54
Renters 60.46
Vacant 5.44

Housing Market Details

 

Age of Homes

AGE OF Carrboro HOMES
2000 or Newer 15.0
1970 - 1999 62.3
1940 - 1969 20.1
1939 or Older 2.6

Types of Homes

TYPE OF Carrboro HOMES
Single-Family 40.8
Townhomes 8.8
Small Apt. Buildings 7.1
Apt. Complexes 42.5
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Carrboro HOMES
No Bedroom 2.86
1 Bedroom 17.86
2 Bedrooms 37.79
3 Bedrooms 22.27
4 Bedrooms 13.89
5 or more bedrooms 5.33