Hillsborough, NC 27278 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Hillsborough, NC—27278

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$469,000

0.7% YoY Growth

Household Income

$102,000

42.1% YoY Growth

Days on Market

8.0% Longer YoY

Home Price Forecast

1.2%

Median Rent

$1,500

1.2% YoY Growth

1-Bed Rent

$1,290

3.7% YoY Growth

2-Bed Rent

$1,500

1.3% YoY Growth

3-Bed Rent

$1,840

1.0% YoY Growth

Home Price Trends — Hillsborough, NC

As of Dec '25, the median home price in Hillsborough, NC is $469,000, with a year-over-year change of 0.7%. This indicates that home prices in Hillsborough, NC are flat. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$469,000	0.7%
Single Family	$470,000	0.2%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Hillsborough, NC

As of July '25, Rentcast reports the average rent in Hillsborough, NC is $1,620, with a year-over-year rent change of -1.2%. Per bedroom, the median rent as of July '25 in Hillsborough, NC is 1-bedrooms: $1,290, 2-bedrooms: $1,540, 3-bedrooms: $1,920, 4-bedrooms: $2,560. The most common rental property sizes in Hillsborough, NC are 2-bedroom and 3-bedroom, accounting for 46.6% and 40.7% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,500	$1,620
Studio Rent	N/A	N/A
1 Bed Rent	$1,290	$1,290
2 Bed Rent	$1,500	$1,540
3 Bed Rent	$1,840	$1,920
4 Bed Rent	$2,650	$2,560

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% of Rental Stock

Studio

1.7%

1 Bedroom

8.7%

2 Bedrooms

46.6%

3 Bedrooms

40.7%

4 Bedrooms

2.2%

5+ Bedrooms

0.1%

Property Listings — Hillsborough, NC

As of Dec '25, Realtor.com reports that the median days on market for a home in Hillsborough, NC is 65. This is a increase of 14.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 16.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$519,000	-4.0%
Listing Count	107	70.0%
Listings as % of Homes	0.4%	70.0%
Days on Market	74	8.0%

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Demographics — Hillsborough, NC

As of the latest ACS Survey released in 2023, Hillsborough, NC has a population of 28,500, which has increased by 9.6% over the past 5 years. Hillsborough, NC is a moderately popular place for families, as children make up 21.5% of the population. The area has a highly educated workforce, with 53.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	28,500	9.6%
% Under 18	21.5%	-7.3%
% Seniors	19.0%	15.2%
% WFH	22.6%	205.4%
% w/ College Degree	53.8%	13.0%

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As of the latest ACS Survey released in 2023, Hillsborough, NC is a predominantly white area, with 70.5% of the population identifying as white. The white population has shrunk by 3.7% in the last 5 years. The second most common race or ethnicity in Hillsborough, NC is hispanic, making up 12.1% of the population. Foreign-born residents account for 7.7% of the population in Hillsborough, NC, and this percentage has decreased by 8.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	70.5%	-3.7%
% Black	10.2%	-16.4%
% Hispanic	12.1%	22.2%
% Asian	3.0%	57.9%
% Foreign Born	7.7%	-8.3%

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Mortgage and Risk — Hillsborough, NC

According to HUD data as of 2023, there were 437 mortgage originations in Hillsborough, NC, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Hillsborough, NC. Investor activity is low, as 2.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	437
% Conventional Loans	94.0%
% Government Loans	6.0%
% Investor Loans	2.0%
% Second Loans	2.0%
% Cash Out Refinance	6.0%

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Rentals and Section 8 — Hillsborough, NC

As of 2024, the percent of homes in Hillsborough, NC under the Section 8 program is 7.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Hillsborough, NC, because HUD payments exceed market rent, while 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	180
Total Units Section 8	180
% Rentals under Section 8	7.8%
% Occupied Section 8	88.2%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$230	$1,290	$1,520
2 Bedroom	$240	$1,500	$1,740
3 Bedroom	$330	$1,840	$2,170
4 Bedroom	-$40	$2,650	$2,610

Hillsborough, NC—27278

Key Metrics at a Glance

Home Price Trends — Hillsborough, NC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hillsborough, NC

% of Rental Stock

Property Listings — Hillsborough, NC

Demographics — Hillsborough, NC

Race and Ethnicity

Mortgage and Risk — Hillsborough, NC

Mortgages

Rentals and Section 8 — Hillsborough, NC

Section 8 Market Size

Section 8 Opportunity

Affordability — Hillsborough, NC

Home Price to Income Ratio

Hillsborough, NC — ZIP Code Boundary Map

Nearby ZIP Codes

Efland, NC

Durham, NC

Chapel Hill, NC

Cedar Grove, NC

Colony Park

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.3
Median Home Price	$469,000
Median Household Income	$102,000

Hillsborough, NC—27278

Key Metrics at a Glance

Home Price Trends — Hillsborough, NC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hillsborough, NC

% of Rental Stock

Property Listings — Hillsborough, NC

Demographics — Hillsborough, NC

Race and Ethnicity

Mortgage and Risk — Hillsborough, NC

Mortgages

Rentals and Section 8 — Hillsborough, NC

Section 8 Market Size

Section 8 Opportunity

Affordability — Hillsborough, NC

Home Price to Income Ratio

Hillsborough, NC — ZIP Code Boundary Map

Nearby ZIP Codes

Efland, NC

Durham, NC

Chapel Hill, NC

Cedar Grove, NC

Colony Park

Frequently Asked Questions

What is the average home price in Hillsborough, NC 27278?

How have home prices in Hillsborough, NC 27278 changed over the past year?

What is the home price projection for Hillsborough, NC 27278?

What are the demographics of Hillsborough, NC 27278?

How long does it take homes to sell in Hillsborough, NC 27278?

What is the average rent price in Hillsborough, NC 27278?