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5 Things You Should Know Before Moving to Chapel Hill, NC

Considered a perfect combination of suburban and urban living, Chapel Hill, NC, is a vibrant city with a lot to offer. The area is famous for the University of North Carolina at Chapel Hill and is the center of innovation and research that makes the town so economically viable. If you are considering moving to Chapel Hill, here are five things you should know about this historic and exuberant city.

Chapel Hill’s Housing Market Is Vibrant and Competitive

Chapel Hill’s vibrant economy and job market mean people always want to move here. The real estate market is thus stable but competitive, with many Chapel Hill homes for sale only staying on the market for 22 days or less before finding a buyer. The high demand for Chapel Hill homes also sees many properties sell for 10 to 19 percent more than the listing price on average. And with more tech companies setting up shop in the area, the market is expected to get more competitive.

Chapel Hill Is a College Town

Chapel Hill is perhaps most associated with its resident college, the University of North Carolina at Chapel Hill. One of the oldest public universities in the United States, the school produces among the most skilled workforces in the country and draws employers from across the globe. Of course, this means that Chapel Hill has a sizeable student population. The community takes great pride in the collegiate sports, and many restaurants and entertainment spots are geared toward students.

The Cost of Living Is Relatively High

The cost of living in Chapel Hill is 10 percent higher than the North Carolina average and 4 percent higher than the national average. The steepest expenses come from food, transportation, and housing, which is about 25 percent more expensive in Chapel Hill than in the country on average. Currently, the median home sale price is $480,000, with Chapel Hill luxury homes for sale selling for a lot more.

There Is a Lot to Do in Chapel Hill

The strong collegiate spirit in Chapel Hill often means there is a lot to do in the city. You can head to the Morehead Planetarium and Science Center and learn about the solar system and galaxy or play a round of golf at the UNC Finley Golf Course. If you are into plants and nature, the North Carolina Botanical Garden offers guided tours, and basketball fans will love the Carolina Basketball Museum.

The Job Market Is Strong

Chapel Hill is one of the cities that makes up the largest research park in the country, Research Triangle Park. This and the university make it attractive to stakeholders and investors in the medical, academic, government, and business fields. In fact, 94 percent of the residents in Chapel Hill work in white-collar jobs within the city in tech, science, social assistance, healthcare, education, and corporate. 

Find Your Chapel Hill Home with Erika & Co.

The lifestyle in Chapel Hill is a healthy balance of work and play, allowing residents to enjoy the peace of suburbia living while maintaining proximity to Raleigh, Durham, and other metropolitan areas. While the student population may not be attractive to everyone, there is much to love about living here, including the many job opportunities and low crime rates. If you are ready to begin your home-buying journey, contact Erika and Co. today to gain expert insight into the Chapel Hill real estate market.