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Real Estate Prices & Overview

Town Center / University of North Carolina at Chapel Hill median real estate price is $793,261, which is more expensive than 96.6% of the neighborhoods in North Carolina and 89.0% of the neighborhoods in the U.S.

The average rental price in Town Center / University of North Carolina at Chapel Hill is currently $2,978, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 92.4% of the neighborhoods in North Carolina.

Town Center / University of North Carolina at Chapel Hill is an urban neighborhood (based on population density) located in Chapel Hill, North Carolina.

Town Center / University of North Carolina at Chapel Hill real estate is primarily made up of small (studio to two bedroom) small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Town Center / University of North Carolina at Chapel Hill neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

In Town Center / University of North Carolina at Chapel Hill, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Town Center / University of North Carolina at Chapel Hill is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Chapel Hill, the Town Center / University of North Carolina at Chapel Hill neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Renter-occupied real estate is dominant in the Town Center / University of North Carolina at Chapel Hill neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 100.0%, which is higher than 99.3% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so. With a real estate vacancy rate of only 0.0%, the Town Center / University of North Carolina at Chapel Hill neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Town Center / University of North Carolina at Chapel Hill neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 100.0% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 100.0% of America's neighborhoods.

Furthermore, most neighborhoods are composed of a mixture of ages of homes, but the Town Center / University of North Carolina at Chapel Hill stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 100.0% of the residential real estate here was built in this one time period.

Also of note, the Town Center / University of North Carolina at Chapel Hill neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 100.0% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

People

Of note is NeighborhoodScout's research finding that the Town Center / University of North Carolina at Chapel Hill neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Town Center / University of North Carolina at Chapel Hill community truly stands out from the rest in this regard.

In addition, an extraordinary 96.0% of the residents of the Town Center / University of North Carolina at Chapel Hill neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

Also, one of the really interesting characteristics about the Town Center / University of North Carolina at Chapel Hill neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 0.2% of college-friendly places to live in the state of North Carolina. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for young, single professionals.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Town Center / University of North Carolina at Chapel Hill neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Residents of the Town Center / University of North Carolina at Chapel Hill neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 74.0% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 99.0% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Modes of Transportation

More people in Town Center / University of North Carolina at Chapel Hill choose to walk to work each day (29.3%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

Also, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Town Center / University of North Carolina at Chapel Hill neighborhood is a fantastic option for bicycle commuters, as 6.4% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 98.8% of the neighborhoods in America.

Finally, a unique way of commuting is simply not to. And in the Town Center / University of North Carolina at Chapel Hill neighborhood, analysis shows that 28.1% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 98.0% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Town Center / University of North Carolina at Chapel Hill neighborhood. In the Town Center / University of North Carolina at Chapel Hill neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Town Center / University of North Carolina at Chapel Hill neighborhood in Chapel Hill are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 100.0% of U.S. neighborhoods. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Town Center / University of North Carolina at Chapel Hill neighborhood, 37.7% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 35.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (20.8%), and 6.1% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Town Center / University of North Carolina at Chapel Hill neighborhood is English, spoken by 82.3% of households. Other important languages spoken here include Spanish and Chinese.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Town Center / University of North Carolina at Chapel Hill neighborhood in Chapel Hill, NC, residents most commonly identify their ethnicity or ancestry as Asian (9.4%). There are also a number of people of German ancestry (4.9%), and residents who report Irish roots (4.6%), and some of the residents are also of English ancestry (4.4%), along with some Italian ancestry residents (2.7%), among others. In addition, 10.8% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Town Center / University of North Carolina at Chapel Hill neighborhood spend under 15 minutes commuting one-way to work (74.0% of working residents), one of the shortest commutes across America.

Here most residents (29.3%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (27.6%) and 8.0% of residents also carpool with coworkers, friends, or neighbors for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.


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