Raleigh NC

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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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Raleigh Housing Market Information

With 474,069 people, 180,046 houses or apartments, and a median cost of homes of $317,346, Raleigh real estate is some of the most expensive in North Carolina, although Raleigh home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Raleigh, accounting for 46.23% of the city's housing units. Other types of housing that are prevalent in Raleigh include large apartment complexes or high rise apartments ( 32.40%), row houses and other attached homes ( 13.93%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.77%).

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 49.25% owning and 50.75% 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 ( 34.29%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.07%). There's also some housing in Raleigh built before 1939 ( 3.07%).

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 47.67%, which ranks in the top 30% nationwide. This equates to an annual average Raleigh house appreciation rate of 3.98%.

NeighborhoodScout's data show that during the latest twelve months, Raleigh's appreciation rate, at 4.66%, has been at or slightly above the national average. In the latest quarter, Raleigh's appreciation rate has been 1.78%, which annualizes to a rate of 7.32%.

Relative to North Carolina, our data show that Raleigh's latest annual appreciation rate is lower 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 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:


Value Range
> $1,257,000 1.3
$942,001 - $1,257,000 2.7
$629,001 - $942,000 7.0
$503,001 - $629,000 7.4
$377,001 - $503,000 15.0
$252,001 - $377,000 24.1
$126,001 - $252,000 35.5
$63,001 - $126,000 4.8
$0 - $63,000 2.4

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
19.6788321167883 11.9565217391304

Number Of Homes And Apartments:

Raleigh Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
85.06% 3.01%
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,546 / per month

Homeownership Rate

Owners 49.25
Renters 50.75
Vacant 9.62

Housing Market Details


Age of Homes

2000 or Newer 34.3
1970 - 1999 47.6
1940 - 1969 15.1
1939 or Older 3.1

Types of Homes

Single-Family 46.2
Townhomes 13.9
Small Apt. Buildings 5.8
Apt. Complexes 32.4
Mobile Homes 1.6
Other 0.0

Home Size

No Bedroom 2.20
1 Bedroom 14.34
2 Bedrooms 27.37
3 Bedrooms 35.08
4 Bedrooms 16.86
5 or more bedrooms 4.16