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 31,493, 11,151 total housing units (homes and apartments), and a median house value of $543,842, Morrisville real estate is some of the most expensive in North Carolina, although Morrisville home values aren't among America's most expensive.
Large apartment complexes or high rise apartments are the single most common housing type in Morrisville, accounting for 36.57% of the town's housing units. Other types of housing that are prevalent in Morrisville include single-family detached homes ( 35.26%), row houses and other attached homes ( 23.40%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.15%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
The most prevalent building size and type in Morrisville are three and four bedroom dwellings. The town has a mixture of owners and renters, with 50.42% owning and 49.58% renting.
Morrisville homes and real estate are some of the newest in America. 70.55% of Morrisville's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Morrisville real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 27.41%), and between 1940-1969 ( 1.96%).
Appreciation rates for homes in Morrisville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 103.59%, which ranks in the top 40% nationwide. This equates to an annual average Morrisville house appreciation rate of 7.37%.
Over the last year, Morrisville appreciation rates have trailed the rest of the nation. In the last twelve months, Morrisville's appreciation rate has been 3.44%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Morrisville were at 1.25%, which equates to an annual appreciation rate of 5.11%.
Relative to North Carolina, our data show that Morrisville's latest annual appreciation rate is lower 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 Morrisville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Morrisville - 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 Morrisville real estate investment or home purchase decisions.
$543,842
for North carolina
for nation
11,151
$3,133 / per month