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 476,587, 189,830 total housing units (homes and apartments), and a median house value of $471,155, 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 44.30% of the city's housing units. Other types of housing that are prevalent in Raleigh include large apartment complexes or high rise apartments ( 34.85%), row houses and other attached homes ( 13.87%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.70%).
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 49.00% owning and 51.00% 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 ( 40.29%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.62%). There's also some housing in Raleigh built before 1939 ( 3.09%).
Vacant housing appears to be an issue in Raleigh. Fully 10.21% of the housing stock is classified as vacant. Left unchecked, vacant Raleigh homes and apartments can be a drag on the real estate market, holding Raleigh real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
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 108.94%, which ranks in the top 30% nationwide. This equates to an annual average Raleigh house appreciation rate of 7.65%.
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 1.10%, 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 -1.51%, which equates to an annual appreciation rate of -5.90%.
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 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.
$471,155
for North carolina
for nation
189,830
$2,330 / per month