Hillsborough, NC—27278
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hillsborough, NC
As of Oct '25, the median home price in Hillsborough, NC is $470,000, with a year-over-year change of 0.9%. This indicates that home prices in Hillsborough, NC are flat. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $470,000 | 0.9% |
| Single Family | $472,000 | 0.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $285,000 | -0.3% |
2 Bed | $315,000 | 0.0% |
3 Bed | $431,000 | 0.5% |
4 Bed | $658,000 | 1.1% |
| 5 Bed | $789,000 | 0.3% |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Hillsborough, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Hillsborough, NC is 61. This is a increase of 23.0% 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 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $502,000 | -9.0% |
Listing Count | 136 | 69.0% |
| Listings as % of Homes | 0.4% | 69.0% |
Days on Market | 61 | 23.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Hillsborough, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $470,000 |
| Median Household Income | $102,000 |