The ZIP codes in the Raleigh area experiencing the highest home appreciation in the past year include areas in exurban Johnston County as well as some of the most desirable neighborhoods in town.
Why it matters: Fewer homes on the market kept prices growing in most areas, meaning affordability dwindled, according to Zillow chief economist Skylar Olsen.
State of play: The area seeing the fastest home appreciation in the past year was the ZIP code 27542 in Johnston County, home to the town of Kenly , which is about 40 miles east of Raleigh.
- Home values there grew 11% to $250,122 in the past year.
- The second-fastest appreciating ZIP code was 27518 in southern Cary, where home values grew 10% to $728,237.
The other ZIP codes seeing the biggest rise in home values were:
- 27609, located around North Hills in Raleigh, with home values up 9%.
- 27569, rural Princeton in Johnston County, 9%
- 27523, Apex, 8%.
Reality check: Zillow’s analysis includes some smaller and rural ZIP codes, where there tend to be fewer, and less expensive houses.