Zillow North Carolina Homes' Value Index Analysis using R

September 18, 2023 | Marielli Reyes

Observations using data analysis:

There were some dips in home values in Wake County but overall the home values in Wake County have been increasing.
In 1997, 1998, 2009, 2010, 2011 and 2012, home values in Wake County decreased.
In 2018, the least expensive area to purchase a home would be in Zebulon, and the most expensive area is New Hill.
There are no area home values trending down. Zebulon stands out compared to others because its home values remained fairly consistent throughout the years.

Observations using data analysis:

Overall, rental costs for the state have increased throughout the years. Fayetteville, however, decreased its rental cost in 2011 and 2016, and remained consistent for the other years.
For 2018, the most expensive city to rent in is Asheville, while the least expensive is Fayetteville.
Wilmington has a lower rent cost than Asheville.

Observations using data analysis:

Charlotte-Concord-Gastonia has the lowest median price.
Charlotte-Concord-Gastonia has the most density around the median value of homes.

Observations using data analysis:

Houston’s housing is the most affordable and New York is the least affordable.
New York saw the largest change in prices over the past 5 years while Texas remained more consistent.
New York was impacted the most during the market downturn in 2012, while Denver experienced an increase in housing values in 2012. All the cities recovered after the market downturn in 2012 but New York and Denver’s housing values increased more than Chicago and Houston.