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 9,765 people, 3,988 houses or apartments, and a median cost of homes of $424,944, Hillsborough real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Hillsborough, accounting for 63.73% of the town's housing units. Other types of housing that are prevalent in Hillsborough include large apartment complexes or high rise apartments ( 19.97%), row houses and other attached homes ( 12.54%), and a few mobile homes or trailers ( 2.26%).
The most prevalent building size and type in Hillsborough are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 61.17% owning and 38.83% renting.
Hillsborough homes and real estate are some of the newest in America. 42.88% of Hillsborough'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 Hillsborough real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 26.81%), and between 1940-1969 ( 18.73%). There's also some housing in Hillsborough built before 1939 ( 11.59%).
Appreciation rates for homes in Hillsborough have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 106.17%, which ranks in the top 30% nationwide. This equates to an annual average Hillsborough house appreciation rate of 7.50%.
NeighborhoodScout's data show that during the latest twelve months, Hillsborough's appreciation rate, at 5.53%, has been at or slightly above the national average. In the latest quarter, Hillsborough's appreciation rate has been 2.64%, which annualizes to a rate of 10.98%.
Relative to North Carolina, our data show that Hillsborough's latest annual appreciation rate is lower than 60% 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 Hillsborough differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hillsborough - 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 Hillsborough real estate investment or home purchase decisions.
$424,944
for North carolina
for nation
3,988
$2,264 / per month