Which Triangle Zip Codes Are Seeing Housing Prices Rise the Most? | Triangulator | Indy Week
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Which Triangle Zip Codes Are Seeing Housing Prices Rise the Most? 

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It's been about a decade since home prices peaked in the run-up to the housing catastrophe that nearly destroyed the American economy. In aggregate, the housing market has bounced all the way back, but as a recent analysis by The Washington Post found, the recovery has "exacerbated inequality, leaving behind many Americans of moderate means."

As Jed Kolko, a senior fellow at the Terner Center for Housing Innovation at the University of California-Berkeley, put it: "U.S. housing markets are more unequal today than they were before the housing bubble."

Where are the winners, and where are the losers? In the Triangle, on the whole, both Raleigh (home values up 21 percent since 2004) and Durham-Chapel Hill (grouped together by the Post, up 19 percent) are doing well. But zoom in closer, and the nuances of this recovery reveal themselves. The ZIP code 27701—home to downtown Durham—has seen home values rise 63 percent, more than anywhere else in the Triangle.

Here's a snapshot of some notable ZIP codes and how much their home values are up since 2004. The national average is 14 percent.

27701 (downtown Durham) 63 percent

27703 (east and southeast Durham) 7 percent

27705 (Duke, Walltown, some north Durham) 22 percent

27704 (Northgate Park east out to Falls Lake) 12 percent

27713 (Southpoint) 14 percent

27510 (Carrboro) 25 percent

27514 (UNC, Chapel Hill) 20 percent

27517 (east of 501, down to Jordan Lake in Chapel Hill) 19 percent

27278 (Hillsborough) 16 percent

27560 (Morrisville) 24 percent

27502 (Apex) 27 percent

27511 (Cary) 27 percent

27601 (downtown Raleigh) 38 percent

27610 (southeast Raleigh) 7 percent

triangulator@indyweek.com

  • Downtown Durham has shot up more than 60 percent since 2004. Downtown Raleigh isn’t far behind.

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