Morrisville: Housing & Real Estate
Homes in Morrisville carry a median value of $518,800 (estimated market value runs 19% higher at $616,801), with median rent $1,858 (1.1× higher than Wake County median $1,623; 1.5× higher than North Carolina median $1,228). Homeownership rate: 45.4%. That's 1.1× higher than the Wake County median ($461,300); 1.8× higher than the North Carolina median ($288,900). Market is warm. Vacancy rate 9.8%. New construction makes up 36.8% of stock. A municipal building code is in effect.
- 4.1× annual income — home value vs. household income (vs North Carolina 4.5×).
- 23.3 years to break even renting at the median (vs North Carolina 22y).
- 4-BR rent is 1.8× a studio — rent gradient by unit size.
- Median rent runs 8% above HUD 2-BR FMR — local market vs federal subsidy benchmark.
Home Values & Rent
Median home value $518,800 — 1.5× the North Carolina median ($353,700). Median rent $1,858/month. homeownership rate 45.4% — below the U.S. share of ~65%.
| Affordability · Home Price To Income | 4.1× |
|---|---|
| Affordability · Home Affordability | moderate |
| Affordability · Rent Pct Income | 17.1% |
| Affordability · Rent Affordability | affordable |
| Affordability · Pct Severely Rent Burdened | 19.6% |
| Affordability · Poverty Rate | 3.1% |
| Affordability · Property Tax Pct Income | 3.3% |
| Fair Market Rent · Studio rent | $1,417 (vs North Carolina $1,167) |
| Fair Market Rent · One-bedroom rent | $1,507 (vs North Carolina $1,429) |
| Fair Market Rent · Two-bedroom rent | $1,711 (vs North Carolina $1,567) |
| Fair Market Rent · Three-bedroom rent | $2,117 (vs North Carolina $1,905) |
| Fair Market Rent · Four-bedroom rent | $2,527 (vs North Carolina $2,319) |
| Fair Market Rent · HUD FMR area | Durham-Chapel Hill, NC HUD Metro FMR Area |
| Fair Market Rent · Fiscal year | FY2026 |
| Home Value Estimate | $616,801 |
| Median Home Value | $518,800 (vs North Carolina $353,700) |
| Median Rent | $1,858 (vs North Carolina $1,360) |
Sources: HUD FMR FY2026 · Census ACS 5-Year 2023, B25077 · Census ACS 5-Year 2023 · Refreshed 2026-04-12
Tenure & Occupancy
Owner-occupied vs renter-occupied housing units, plus vacancy rates.
| Housing Market · Market temperature | warm |
|---|---|
| Housing Market · Vacancy rate | 9.8% |
| Housing Market · New construction (% of stock) | 36.8% |
| Housing Market · Price Appreciation 2Yr | 7.7% |
Utilities
Electricity, water, and broadband infrastructure serving residents. Broadband percentages reflect the share of premises that can subscribe to service at the listed speed (FCC Form 477).
Systems (5)
| Broadband · % of premises with 25/3 Mbps broadband | 100.0% (at North Carolina median) |
|---|---|
| Broadband · % of premises with 100/20 Mbps broadband | 100.0% (at North Carolina median) |
| Broadband · % of premises with 250/25 Mbps broadband | 100.0% (at North Carolina median) |
| Broadband · % of premises with 1 Gbps / 100 Mbps broadband | 80.1% (vs North Carolina 63.3%) |
| Broadband · Broadband-capable premises | 12,984 |
| Electricity · Electricity rate (¢/kWh) | 14.13¢/kWh |
| Electricity · Customers | 5067762 |
| Electricity · Revenue Millions | $8,727 |
| Electricity · Year | 2024 |
| Mobile Broadband · 3G mobile coverage | 0.000000000 |
| Mobile Broadband · 4G mobile coverage | 1.000000000 (at North Carolina median) |
| Mobile Broadband · 5G mobile coverage | 1.000000000 (at North Carolina median) |
| Mobile Home Parks Detail · County total | 28 |
Sources: FCC BDC Jun 2025 · EIA Annual Retail Sales 2023 · FCC BDC Mobile 2024 · HIFLD / IRS BMF · Refreshed 2026-04-12
Charging & Mobility
| Ev Charging · Stations | 50 |
|---|---|
| Ev Charging · Public Stations | 47 |
| Ev Charging · L2 Ports | 153 |
| Ev Charging · Dc Fast Ports | 12 |
Sources: DOE AFDC API
Other
| Homeownership Rate | 45.4% (vs North Carolina 52.8%) |
|---|---|
| Median Year Built | 2007 |
Sources: Census ACS 5-Year 2023 · Refreshed 2026-04-12