Cornelius, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Cornelius Neighborhoods Since 2000




Cornelius, 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

Cornelius Housing Market Information

With a population of 28,092, 11,240 total housing units (homes and apartments), and a median house value of $302,947, Cornelius real estate is some of the most expensive in North Carolina, although Cornelius home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Cornelius, accounting for 58.46% of the town's housing units. Other types of housing that are prevalent in Cornelius include large apartment complexes or high rise apartments ( 21.55%), row houses and other attached homes ( 16.26%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.31%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cornelius. Owner-occupied housing accounts for 65.05% of Cornelius's homes, and 60.40% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cornelius 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 Cornelius built between 2000 and later ( 40.71%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.23%). There's also some housing in Cornelius built before 1939 ( 1.86%).

Cornelius Home Appreciation Rates

In the last 10 years, Cornelius has experienced some of the highest home appreciation rates of any community in the nation. Cornelius real estate appreciated 14.99% over the last ten years, which is an average annual home appreciation rate of 1.41%, putting Cornelius in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cornelius definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Cornelius that despite a nationwide downturn in the housing market, Cornelius real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cornelius appreciation rates continue to be some of the highest in America, at 7.24%, which is higher than appreciation rates in 82.66% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cornelius. Cornelius appreciation rates in the latest quarter were at 1.88%, which equates to an annual appreciation rate of 7.72%.

Importantly, this makes Cornelius one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to North Carolina, our data show that Cornelius's latest annual appreciation rate is higher 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 Cornelius differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cornelius - 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 Cornelius real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$302,947

Cornelius, NC HOME PRICES

Value Range
> $1,192,000 6.2
$894,001 - $1,192,000 4.0
$596,001 - $894,000 7.8
$476,001 - $596,000 6.4
$358,001 - $476,000 11.1
$238,001 - $358,000 26.4
$119,001 - $238,000 33.8
$59,001 - $119,000 2.5
$0 - $59,000 1.9

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
16.078753076292 7.62250453720508

Number Of Homes And Apartments:
11,240

Cornelius 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
46.50% 2.24% 9 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,480 / per month

Homeownership Rate

Homeownership
Owners 65.05
Renters 34.95
Vacant 9.10

Housing Market Details

 

Age of Homes

AGE OF Cornelius HOMES
2000 or Newer 40.7
1970 - 1999 54.2
1940 - 1969 3.2
1939 or Older 1.9

Types of Homes

TYPE OF Cornelius HOMES
Single-Family 58.5
Townhomes 16.3
Small Apt. Buildings 3.3
Apt. Complexes 21.6
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Cornelius HOMES
No Bedroom 0.90
1 Bedroom 6.32
2 Bedrooms 25.85
3 Bedrooms 39.92
4 Bedrooms 20.49
5 or more bedrooms 6.53