Raleigh, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



Map Loading GIF Please wait, loading your map...

Highest
Lowest




Raleigh, 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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Raleigh Housing Market Information

With a population of 463,492, 176,870 total housing units (homes and apartments), and a median house value of $271,040, 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%).

Raleigh Home Appreciation Rates

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 29.49%, which ranks in the top 30% nationwide. This equates to an annual average Raleigh house appreciation rate of 2.62%.

NeighborhoodScout's data show that during the latest twelve months, Raleigh's appreciation rate, at 6.07%, has been at or slightly above the national average. In the latest quarter, Raleigh's appreciation rate has been 0.77%, which annualizes to a rate of 3.10%.

Relative to North Carolina, our data show that Raleigh's latest annual appreciation rate is higher than 60% 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.

Average Home Values

 

Median Home Value:
$271,040

Raleigh, NC HOME PRICES

Value Range
> $1,232,000 1.4
$924,001 - $1,232,000 2.7
$616,001 - $924,000 6.4
$493,001 - $616,000 7.2
$370,001 - $493,000 13.5
$246,001 - $370,000 25.9
$123,001 - $246,000 36.8
$62,001 - $123,000 3.4
$0 - $62,000 2.5

Very High for NC
High for Nation

Value Relative to Nation Value Relative to State
23.1357664233577 15.5797101449275

Number Of Homes And Apartments:
176,870

Raleigh Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
70.82% 2.82%
9
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,483 / per month

Homeownership Rate

Homeownership
Owners 51.94
Renters 48.06
Vacant 9.19

Housing Market Details

 

Age of Homes

AGE OF Raleigh HOMES
2000 or Newer 33.2
1970 - 1999 48.2
1940 - 1969 15.5
1939 or Older 3.1

Types of Homes

TYPE OF Raleigh HOMES
Single-Family 46.6
Townhomes 13.9
Small Apt. Buildings 6.4
Apt. Complexes 31.6
Mobile Homes 1.5
Other 0.0

Home Size

SIZE OF Raleigh HOMES
No Bedroom 2.33
1 Bedroom 13.77
2 Bedrooms 27.50
3 Bedrooms 35.47
4 Bedrooms 16.95
5 or more bedrooms 3.99