Carrboro, NC Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Carrboro, NC Housing Market Trends

With a population of 21,190, 9,358 total housing units (homes and apartments), and a median house value of $430,557, 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.

Single-family detached homes are the single most common housing type in Carrboro, accounting for 42.11% of the town's housing units. Other types of housing that are prevalent in Carrboro include large apartment complexes or high rise apartments ( 41.94%), row houses and other attached homes ( 8.06%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.53%).

People in Carrboro primarily live in small (one, two or no bedroom) single-family detached homes. 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 ( 16.67%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.13%). There's also some housing in Carrboro built before 1939 ( 1.43%).

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 44.75%, which ranks in the top 50% nationwide. This equates to an annual average Carrboro house appreciation rate of 3.77%.

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 5.37%, 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 1.48%, which equates to an annual appreciation rate of 6.04%.

Notably, Carrboro's appreciation rate in the latest quarter is one of the lowest in America.

Relative to North Carolina, our data show that Carrboro's latest annual appreciation rate is lower than 90% 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:
$430,557

Carrboro, NC HOME PRICES

> $1,249,000
0.9%
0.9%
$937,001 - $1,249,000
2.7%
2.7%
$625,001 - $937,000
11.8%
11.8%
$500,001 - $625,000
19.0%
19.0%
$375,001 - $500,000
22.6%
22.6%
$250,001 - $375,000
13.7%
13.7%
$125,001 - $250,000
27.8%
27.8%
$62,001 - $125,000
0.3%
0.3%
$0 - $62,000
1.3%
1.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for NC

Value Relative To Nation

Number Of Homes And Apartments:
9,358

Carrboro Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
114.26% 3.61%
10
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,502 / per month

Homeownership Rate

Owners
42.8%
42.8%
Renters
57.2%
57.2%
Vacant
6.3%
6.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
16.1%
16.1%
1970 - 1999
65.8%
65.8%
1940 - 1969
16.7%
16.7%
1939 or Older
1.4%
1.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
42.1%
42.1%
Townhomes
8.1%
8.1%
Small Apt. Buildings
6.5%
6.5%
Apt. Complexes
41.9%
41.9%
Mobile Homes
1.4%
1.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
6.2%
6.2%
1 Bedroom
16.1%
16.1%
2 Bedrooms
32.9%
32.9%
3 Bedrooms
22.5%
22.5%
4 Bedrooms
16.1%
16.1%
5 or more bedrooms
6.2%
6.2%
0.0% 100.0%
% OF HOMES