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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Kannapolis, NC Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Kannapolis, NC Housing Market Trends

With a population of 55,448, 19,026 total housing units (homes and apartments), and a median house value of $278,635, Kannapolis real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Kannapolis, accounting for 77.51% of the city's housing units. Other types of housing that are prevalent in Kannapolis include large apartment complexes or high rise apartments ( 10.48%), duplexes, homes converted to apartments or other small apartment buildings ( 6.92%), and a few mobile homes or trailers ( 3.97%).

The most prevalent building size and type in Kannapolis are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.28% owning and 37.72% renting.

Kannapolis homes and real estate are some of the newest in America. 35.78% of Kannapolis's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Kannapolis real estate market has to offer. Quite a bit of the housing here was also built between 1940-1969 ( 30.17%), and between 1970-1999 ( 21.84%). There's also some housing in Kannapolis built before 1939 ( 12.21%).

Vacant housing appears to be an issue in Kannapolis. Fully 13.78% of the housing stock is classified as vacant. Left unchecked, vacant Kannapolis homes and apartments can be a drag on the real estate market, holding Kannapolis real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Kannapolis Home Appreciation Rates

In the last 10 years, Kannapolis has experienced some of the highest home appreciation rates of any community in the nation. Kannapolis real estate appreciated 159.60% over the last ten years, which is an average annual home appreciation rate of 10.01%, putting Kannapolis in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Kannapolis definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Kannapolis appreciation rates have trailed the rest of the nation. In the last twelve months, Kannapolis's appreciation rate has been 7.08%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Kannapolis were at 2.84%, which equates to an annual appreciation rate of 11.86%.

Relative to North Carolina, our data show that Kannapolis's latest annual appreciation rate is lower than 70% of the other cities and towns in North Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Kannapolis differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Kannapolis - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Kannapolis real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$278,635

Kannapolis, NC Home Prices
> $1,502,000
$1,126,001 - $1,502,000
$751,001 - $1,126,000
$601,001 - $751,000
$450,001 - $601,000
$300,001 - $450,000
$150,001 - $300,000
$75,001 - $150,000
$0 - $75,000
2.0%
2.0%
0.8%
0.8%
3.4%
3.4%
8.1%
8.1%
11.8%
11.8%
28.1%
28.1%
32.6%
32.6%
10.2%
10.2%
3.1%
3.1%
0% 100.0%
% of Homes
Average

for North carolina

Average

for nation

Number of Homes And Apartments:

19,026

Kannapolis Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,833 / per month

Homeownership Rate

Owners
Renters
62.3%
62.3%
37.7%
37.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
13.8%
13.8%
86.2%
86.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
35.8%
35.8%
21.8%
21.8%
30.2%
30.2%
12.2%
12.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
77.5%
77.5%
1.1%
1.1%
6.9%
6.9%
10.5%
10.5%
4.0%
4.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.1%
3.1%
6.4%
6.4%
33.7%
33.7%
39.0%
39.0%
12.6%
12.6%
5.2%
5.2%
0% 100.0%
% of Homes