Morrisville, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Morrisville Neighborhoods Since 2000




Morrisville, 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

Morrisville Housing Market Information

With 23,820 people, 8,128 houses or apartments, and a median cost of homes of $359,517, Morrisville house prices are not only among the most expensive in North Carolina, Morrisville 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 Morrisville, accounting for 43.64% of the town's housing units. Other types of housing that are prevalent in Morrisville include single-family detached homes ( 37.07%), row houses and other attached homes ( 15.86%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.01%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

The most prevalent building size and type in Morrisville are three and four bedroom dwellings. The town has a mixture of owners and renters, with 50.39% owning and 49.61% renting.

Morrisville homes and real estate are some of the newest in America. 64.24% of Morrisville's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Morrisville real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 32.89%), and between 1940-1969 ( 2.71%).

Morrisville Home Appreciation Rates

In the last 10 years, Morrisville has experienced some of the highest home appreciation rates of any community in the nation. Morrisville real estate appreciated 21.90% over the last ten years, which is an average annual home appreciation rate of 2.00%, putting Morrisville in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Morrisville definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Morrisville's appreciation rate, at 4.41%, has been at or slightly above the national average. In the latest quarter, Morrisville's appreciation rate has been 2.42%, which annualizes to a rate of 10.04%.

Importantly, this makes Morrisville 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 Morrisville's latest annual appreciation rate is higher than 70% 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 Morrisville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Morrisville - 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 Morrisville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$359,517

Morrisville, NC HOME PRICES

Value Range
> $1,206,000 3.2
$905,001 - $1,206,000 3.3
$603,001 - $905,000 8.6
$483,001 - $603,000 7.1
$362,001 - $483,000 26.3
$241,001 - $362,000 26.7
$121,001 - $241,000 22.8
$60,001 - $121,000 0.6
$0 - $60,000 1.4

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
11.5199812492676 4.3557168784029

Number Of Homes And Apartments:
8,128

Morrisville 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
50.69% 2.41% 9 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,518 / per month

Homeownership Rate

Homeownership
Owners 50.39
Renters 49.61
Vacant 9.66

Housing Market Details

 

Age of Homes

AGE OF Morrisville HOMES
2000 or Newer 64.2
1970 - 1999 32.9
1940 - 1969 2.7
1939 or Older 0.2

Types of Homes

TYPE OF Morrisville HOMES
Single-Family 37.1
Townhomes 15.9
Small Apt. Buildings 3.0
Apt. Complexes 43.6
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Morrisville HOMES
No Bedroom 0.92
1 Bedroom 15.18
2 Bedrooms 27.94
3 Bedrooms 31.13
4 Bedrooms 18.40
5 or more bedrooms 6.42