The housing market in the Durham-Chapel Hill, NC Metro Area is very strong, with a median value of $381,000 compared to the US median of $338,100. In addition, the house appreciation rate in this area is much higher than the US average at 15.78%, compared to 8.27%. This shows that not only are home prices in Durham-Chapel Hill competitive with the rest of the nation, but they are increasing at an accelerated rate. All signs point to this being a great time to purchase property in this area and an excellent investment opportunity for anyone looking for real estate.
The median home cost in Durham-Chapel Hill Metro Area is $381,000. Home appreciation the last 10 years has been 122.3%. Home Appreciation in Durham-Chapel Hill Metro Area is up 24.2%.
Average Age of Homes
- The median age of Durham-Chapel Hill Metro Area real estate is 30 years old
The Rental Market in Durham-Chapel Hill Metro Area
- Renters make up 36.2% of the Durham-Chapel Hill Metro Area population
- 2.0% of houses and apartments in Durham-Chapel Hill Metro Area, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.