Hillsborough, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Hillsborough Neighborhoods Since 2000




Hillsborough, NC Real Estate Data


Hillsborough Housing Market Information

With 6,415 people, 2,254 houses or apartments, and a median cost of homes of $220,442, Hillsborough real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Hillsborough, accounting for 76.66% of the town's housing units. Other types of housing that are prevalent in Hillsborough include large apartment complexes or high rise apartments ( 14.22%), mobile homes or trailers ( 5.74%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.38%).

The most prevalent building size and type in Hillsborough are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 54.80% owning and 45.20% renting.

There is a lot of housing in Hillsborough 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 Hillsborough built between 1940-1969 ( 26.15%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.90%). There's also some housing in Hillsborough built before 1939 ( 15.19%).

Hillsborough Home Appreciation Rates

Appreciation rates for homes in Hillsborough have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.22%, which ranks in the top 30% nationwide. This equates to an annual average Hillsborough house appreciation rate of 0.98%.

NeighborhoodScout's data show that during the latest twelve months, Hillsborough's appreciation rate, at 5.14%, has been at or slightly above the national average. In the latest quarter, Hillsborough's appreciation rate has been 0.68%, which annualizes to a rate of 2.76%.

Relative to North Carolina, our data show that Hillsborough's latest annual appreciation rate is higher than 70% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$220,442

Hillsborough, NC HOME PRICES

Value Range
> $1,108,000 1.7
$831,001 - $1,108,000 1.9
$554,001 - $831,000 4.0
$443,001 - $554,000 5.8
$333,001 - $443,000 12.4
$222,001 - $333,000 24.2
$111,001 - $222,000 33.5
$56,001 - $111,000 6.8
$0 - $56,000 9.5

Very High for NC
High for Nation

Value Relative to Nation Value Relative to State
27.29989452713 19.4192377495463

Number Of Homes And Apartments:
2,254

Rent & Ownership

 

Average Market Rent:
$1,031 / per month

Homeownership Rate

Homeownership
Owners 54.80
Renters 45.20
Vacant 8.19

Housing Market Details

 

Age of Homes

AGE OF Hillsborough HOMES
2000 or Newer 18.9
1970 - 1999 39.8
1940 - 1969 26.2
1939 or Older 15.2

Types of Homes

TYPE OF Hillsborough HOMES
Single-Family 76.7
Townhomes 0.0
Small Apt. Buildings 3.4
Apt. Complexes 14.2
Mobile Homes 5.7
Other 0.0

Home Size

SIZE OF Hillsborough HOMES
No Bedroom 1.79
1 Bedroom 3.26
2 Bedrooms 28.51
3 Bedrooms 53.56
4 Bedrooms 11.36
5 or more bedrooms 1.51

Hillsborough Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
33.44% 1.69% 7 4
* 10 is highest