Morrisville, NC—27560
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Morrisville, NC
As of Oct '25, the median home price in Morrisville, NC is $499,000, with a year-over-year change of -3.2%. This indicates that home prices in Morrisville, NC are decreasing. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $499,000 | -3.2% |
| Single Family | $506,000 | -3.4% |
| Condos | $296,000 | -3.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $326,000 | -6.1% |
3 Bed | $432,000 | -3.6% |
4 Bed | $607,000 | -2.4% |
| 5 Bed | $788,000 | -1.6% |
% of Housing Stock
Rental Trends — Morrisville, NC
As of July '25, Rentcast reports the average rent in Morrisville, NC is $1,730, with a year-over-year rent change of -4.4%. Per bedroom, the median rent as of July '25 in Morrisville, NC is studios: $1,490, 1-bedrooms: $1,460, 2-bedrooms: $1,840, 3-bedrooms: $2,110, 4-bedrooms: $2,570. The most common rental property sizes in Morrisville, NC are 2-bedroom and 1-bedroom, accounting for 35.8% and 28.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,680 | $1,730 |
| Studio Rent | $1,480 | $1,490 |
| 1 Bed Rent | $1,440 | $1,460 |
| 2 Bed Rent | $1,740 | $1,840 |
| 3 Bed Rent | $2,050 | $2,110 |
| 4 Bed Rent | $2,500 | $2,570 |
% of Rental Stock
Property Listings — Morrisville, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Morrisville, NC is 50. This is a increase of 13.0% 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 41.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $498,000 | -4.0% |
Listing Count | 102 | 7.0% |
| Listings as % of Homes | 0.3% | 7.0% |
Days on Market | 50 | 13.0% |
Demographics — Morrisville, NC
As of the latest ACS Survey released in 2023, Morrisville, NC has a population of 39,400, which has increased by 20.2% over the past 5 years. Morrisville, NC is a moderately popular place for families, as children make up 21.6% of the population. The area has a highly educated workforce, with 73.3% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 33.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 39,400 | 20.2% |
% Under 18 | 21.6% | -16.9% |
% Seniors | 5.9% | 5.4% |
% WFH | 33.0% | 312.5% |
% w/ College Degree | 73.3% | 13.5% |
As of the latest ACS Survey released in 2023, Morrisville, NC is a predominantly asian area, with 38.6% of the population identifying as asian. The asian population has grown by 10.9% in the last 5 years. The second most common race or ethnicity in Morrisville, NC is white, making up 37.4% of the population. Foreign-born residents account for 33.4% of the population in Morrisville, NC, and this percentage has increased by 3.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 37.4% | -1.6% |
% Black | 14.7% | -8.1% |
% Hispanic | 4.0% | -39.4% |
% Asian | 38.6% | 10.9% |
% Foreign Born | 33.4% | 3.4% |
Mortgage and Risk — Morrisville, NC
According to HUD data as of 2023, there were 359 mortgage originations in Morrisville, NC, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Morrisville, NC. Investor activity is low, as 3.0% 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 | 359 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Morrisville, NC
As of 2024, the percent of homes in Morrisville, NC under the Section 8 program is 0.0%. 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. In Morrisville, NC, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 6 |
Total Units Section 8 | 6 |
% Rentals under Section 8 | 0.0% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $550 | $1,440 | $1,990 |
| 2 Bedroom | $480 | $1,740 | $2,220 |
| 3 Bedroom | $710 | $2,050 | $2,760 |
| 4 Bedroom | $1,160 | $2,500 | $3,660 |
Affordability — Morrisville, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $499,000 |
| Median Household Income | $117,000 |