NC · Housing affordability · 2024

North CarolinaHousing Affordability by County

North Carolina's housing market is mid-range, but medical debt is a serious problem

Home prices in North Carolina average $288,900 — moderate by national standards — but the state has a severe medical debt problem. Anson County has the highest medical debt-in-collections rate in the United States at 32.5%, and four North Carolina counties rank in the national top ten for medical debt, reflecting the state's historically low health insurance coverage in rural areas.

Getting pricey Population: 10,730,404

A mid-range market — neither a bargain nor a crisis by national standards.

Years of income to buy a home

4.0×

▼ 4% vs US average

Typical home price

$288,900

▼ 16% vs US average

Typical monthly rent

$1,228

▼ 6% vs US average

Renters paying too much for rent

44.7%

▼ 1% vs US average

Homeowners stretched thin

15.0%

▼ 7% vs US average

Typical household income

$72,388

▼ 10% vs US average

How to read the bars: the coloured bar is NC's value; the grey tick is the US average. "Paying too much" means spending more than 30% of income on housing — the standard economic threshold for cost burden.

What the data shows

Buying a home in North Carolina is manageable for many families, though it takes real commitment. The typical home costs $288,900, which is about 4.0× of the typical household income of $72,388 a year. A family saving their entire income would need around 4.0 years to cover the purchase price — before mortgage interest, taxes, or upkeep.

Renters face real pressure. The typical rent in North Carolina is $1,228 a month, and 45% of renters spend more than 30% of their income on housing — the point at which most financial advisers say rent becomes unaffordable. That figure is 1% lower than the national average of 45%.

15.0% of North Carolina homeowners with a mortgage spend more than 30% of their income on housing — close to the national average of 16.1%.

How North Carolina ranks nationally

Rank 1 = most expensive / highest burden. Compared against all 50 states and DC (51 in total).

Years to buy a home

24th

of 51 states

Typical home price

28th

of 51 states

Typical monthly rent

27th

of 51 states

Renters paying too much

27th

of 51 states

Common questions

Is North Carolina affordable to live in? +

It depends on what you're comparing to. North Carolina is in the middle of the pack nationally. The typical home costs $288,900, which is 4.0× of the typical household income — above the national average, but far from the extremes seen in California or Hawaii.

What is the average rent in North Carolina? +

The typical monthly rent in North Carolina is $1,228, according to the 2024 American Community Survey. About 45% of NC renters spend more than 30% of their income on rent.

How much do you need to earn to buy a home in North Carolina? +

As a rough guide, you'd need a household income of around $72,000 a year to comfortably afford the typical North Carolina home of $288,900, assuming a 20% down payment and standard mortgage terms. The typical North Carolina household earns $72,388 a year.

Explore North Carolina county by county on the map

The state average is only part of the story. Drill into individual counties and census tracts to see where affordability varies most across North Carolina.

Open NC on the map

Other states in the same tier — Getting pricey