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 about Scout's Real Estate Data
With a population of 469,124, 187,234 total housing units (homes and apartments), and a median house value of $425,961, 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 45.11% of the city's housing units. Other types of housing that are prevalent in Raleigh include large apartment complexes or high rise apartments ( 33.58%), row houses and other attached homes ( 14.26%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.72%).
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 49.53% owning and 50.47% 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 ( 38.33%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.46%). There's also some housing in Raleigh built before 1939 ( 3.07%).
In the last 10 years, Raleigh has experienced some of the highest home appreciation rates of any community in the nation. Raleigh real estate appreciated 108.63% over the last ten years, which is an average annual home appreciation rate of 7.63%, putting Raleigh in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Raleigh definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Raleigh appreciation rates have trailed the rest of the nation. In the last twelve months, Raleigh's appreciation rate has been -1.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Raleigh were at 3.52%, which equates to an annual appreciation rate of 14.85%.
Relative to North Carolina, our data show that Raleigh's latest annual appreciation rate is lower than 90% 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.
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