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 62,098, 19,965 total housing units (homes and apartments), and a median house value of $859,193, Chapel Hill house prices are not only among the most expensive in North Carolina, Chapel Hill real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Chapel Hill, accounting for 43.46% of the town's housing units. Other types of housing that are prevalent in Chapel Hill include large apartment complexes or high rise apartments ( 35.18%), row houses and other attached homes ( 12.45%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.28%).
People in Chapel Hill primarily live in small (one, two or no bedroom) single-family detached homes. Chapel Hill has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Chapel Hill 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 Chapel Hill built between 2000 and later ( 29.56%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.21%). There's also some housing in Chapel Hill built before 1939 ( 3.28%).
Vacant housing appears to be an issue in Chapel Hill. Fully 10.86% of the housing stock is classified as vacant. Left unchecked, vacant Chapel Hill homes and apartments can be a drag on the real estate market, holding Chapel Hill 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 Chapel Hill have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 92.92%, which ranks in the top 50% nationwide. This equates to an annual average Chapel Hill house appreciation rate of 6.79%.
Appreciation rates are so strong in Chapel Hill that despite a nationwide downturn in the housing market, Chapel Hill real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Chapel Hill appreciation rates continue to be some of the highest in America, at 8.77%, which is higher than appreciation rates in 78.83% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Chapel Hill. Chapel Hill appreciation rates in the latest quarter were at 2.64%, which equates to an annual appreciation rate of 10.98%.
Relative to North Carolina, our data show that Chapel Hill's latest annual appreciation rate is higher than 80% 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 town. Individual neighborhoods within Chapel Hill differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Chapel Hill - 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 Chapel Hill real estate investment or home purchase decisions.
$859,193
for North carolina
for nation
19,965
$2,674 / per month