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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Carrboro Housing Market Information

With 21,190 people, 9,202 houses or apartments, and a median cost of homes of $383,315, 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 42.01% of the town's housing units. Other types of housing that are prevalent in Carrboro include single-family detached homes ( 40.42%), row houses and other attached homes ( 9.09%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.57%). This particular housing mix is relatively uncommon and characteristic of towns that are compact and walkable, and which 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 ( 15.62%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.52%). There's also some housing in Carrboro built before 1939 ( 2.03%).

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 35.56%, which ranks in the top 40% nationwide. This equates to an annual average Carrboro house appreciation rate of 3.09%.

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 3.44%, 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 0.71%, which equates to an annual appreciation rate of 2.87%.

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

 
info

Median Home Value:
$383,315

Carrboro, NC HOME PRICES

> $1,264,000
0.7%
0.7%
$948,001 - $1,264,000
2.3%
2.3%
$632,001 - $948,000
10.3%
10.3%
$505,001 - $632,000
13.8%
13.8%
$379,001 - $505,000
20.4%
20.4%
$253,001 - $379,000
16.7%
16.7%
$126,001 - $253,000
32.1%
32.1%
$63,001 - $126,000
0.3%
0.3%
$0 - $63,000
3.3%
3.3%
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:
9,202

Carrboro Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
107.15% 3.57%
10
9
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,403 / per month

Homeownership Rate

Owners
42.8%
42.8%
Renters
57.2%
57.2%
Vacant
5.9%
5.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
15.5%
15.5%
1970 - 1999
66.8%
66.8%
1940 - 1969
15.6%
15.6%
1939 or Older
2.0%
2.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
40.4%
40.4%
Townhomes
9.1%
9.1%
Small Apt. Buildings
7.6%
7.6%
Apt. Complexes
42.0%
42.0%
Mobile Homes
0.9%
0.9%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.1%
4.1%
1 Bedroom
16.6%
16.6%
2 Bedrooms
33.7%
33.7%
3 Bedrooms
25.1%
25.1%
4 Bedrooms
15.2%
15.2%
5 or more bedrooms
5.2%
5.2%
0.0% 100.0%
% OF HOMES