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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 469,298, 176,870 total housing units (homes and apartments), and a median house value of $279,759, Raleigh real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Raleigh, accounting for 46.55% of the city's housing units. Other types of housing that are prevalent in Raleigh include large apartment complexes or high rise apartments ( 31.57%), row houses and other attached homes ( 13.90%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.41%).
The most prevalent building size and type in Raleigh are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.94% owning and 48.06% renting.
There is a lot of housing in Raleigh 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 Raleigh built between 2000 and later ( 33.17%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.47%). There's also some housing in Raleigh built before 1939 ( 3.14%).
Appreciation rates for homes in Raleigh have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 37.71%, which ranks in the top 30% nationwide. This equates to an annual average Raleigh house appreciation rate of 3.25%.
NeighborhoodScout's data show that during the latest twelve months, Raleigh's appreciation rate, at 4.70%, has been at or slightly above the national average. In the latest quarter, Raleigh's appreciation rate has been -0.38%, which annualizes to a rate of -1.50%.
Notably, Raleigh's appreciation rate in the latest quarter is one of the lowest in America.
Relative to North Carolina, our data show that Raleigh's latest annual appreciation rate is higher than 50% 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 city. Individual neighborhoods within Raleigh differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Raleigh - 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 Raleigh real estate investment or home purchase decisions.
|$954,001 - $1,271,000||2.4|
|$636,001 - $954,000||5.9|
|$509,001 - $636,000||7.1|
|$381,001 - $509,000||13.1|
|$254,001 - $381,000||24.3|
|$127,001 - $254,000||37.4|
|$64,001 - $127,000||5.7|
|$0 - $64,000||2.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
2000 Q1 - 2019 Q3
|* 10 is highest|
|AGE OF Raleigh HOMES|
|2000 or Newer||33.2|
|1970 - 1999||48.2|
|1940 - 1969||15.5|
|1939 or Older||3.1|
|TYPE OF Raleigh HOMES|
|Small Apt. Buildings||6.4|
|SIZE OF Raleigh HOMES|
|5 or more bedrooms||3.99|