Matthews, NC Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Matthews, NC Housing Market Trends

With a population of 33,138, 12,011 total housing units (homes and apartments), and a median house value of $318,978, Matthews real estate is some of the most expensive in North Carolina, although Matthews home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Matthews, accounting for 71.49% of the town's housing units. Other types of housing that are prevalent in Matthews include large apartment complexes or high rise apartments ( 21.40%), row houses and other attached homes ( 4.52%), and a few mobile homes or trailers ( 1.51%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Matthews. Owner-occupied housing accounts for 71.07% of Matthews's homes, and 67.96% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Matthews 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 Matthews built between 2000 and later ( 25.86%). A lesser amount of the housing stock also hails from between 1940-1969 ( 5.08%).

Matthews Home Appreciation Rates

In the last 10 years, Matthews has experienced some of the highest home appreciation rates of any community in the nation. Matthews real estate appreciated 74.63% over the last ten years, which is an average annual home appreciation rate of 5.73%, putting Matthews in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Matthews definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Matthews's appreciation rate, at 10.25%, has been at or slightly above the national average. In the latest quarter, Matthews's appreciation rate has been 2.98%, which annualizes to a rate of 12.48%.

Relative to North Carolina, our data show that Matthews's latest annual appreciation rate is lower than 50% 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 Matthews differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Matthews - 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 Matthews real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$318,978

Matthews, NC HOME PRICES

> $1,305,000
0.9%
0.9%
$978,001 - $1,305,000
0.8%
0.8%
$652,001 - $978,000
5.2%
5.2%
$522,001 - $652,000
10.1%
10.1%
$391,001 - $522,000
19.2%
19.2%
$261,001 - $391,000
37.6%
37.6%
$130,001 - $261,000
22.3%
22.3%
$65,001 - $130,000
2.2%
2.2%
$0 - $65,000
1.5%
1.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for NC

Value Relative To Nation

Number Of Homes And Apartments:
12,011

Matthews Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
93.66% 3.12%
9
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,956 / per month

Homeownership Rate

Owners
71.1%
71.1%
Renters
28.9%
28.9%
Vacant
4.0%
4.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
25.9%
25.9%
1970 - 1999
68.4%
68.4%
1940 - 1969
5.1%
5.1%
1939 or Older
0.7%
0.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
71.5%
71.5%
Townhomes
4.5%
4.5%
Small Apt. Buildings
1.1%
1.1%
Apt. Complexes
21.4%
21.4%
Mobile Homes
1.5%
1.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.9%
0.9%
1 Bedroom
8.7%
8.7%
2 Bedrooms
15.8%
15.8%
3 Bedrooms
35.0%
35.0%
4 Bedrooms
33.0%
33.0%
5 or more bedrooms
6.6%
6.6%
0.0% 100.0%
% OF HOMES