HOUSING & REAL ESTATE

North Carolina’s housing market is more affordable than many other U.S. states, though costs are climbing in high-growth areas. From modern city apartments to peaceful rural homes and mountain cabins, the state offers housing options for every lifestyle and budget.

Overview

North Carolina’s population has grown rapidly in the last two decades, adding over 900,000 residents since 2010.
This growth fuels housing demand, particularly in metro areas like Charlotte, Raleigh-Durham, and Asheville.
The state offers a mix of urban condos, suburban family homes, mountain cabins, and coastal cottages, appealing to different lifestyles.

Housing Affordability

North Carolina’s housing costs remain below the national average, though inflation and high demand are pushing prices upward.
As of 2024, the median home price is around $320,000, compared to the national median of about $412,000.
Median monthly rent for a two-bedroom apartment is $1,200–$1,400, with lower costs in rural areas.

Homeownership vs. Renting

65% of households own their homes, while about 35% rent.
Young professionals and students often rent in cities like Charlotte, Durham, and Raleigh, where job growth and universities attract newcomers.
Families and retirees tend to favor suburban or rural areas with more space and lower costs.

Regional Differences

Charlotte & Raleigh-Durham: Higher housing costs, competitive rental markets, driven by finance, tech, and healthcare jobs.
Eastern NC (coastal towns): Affordable housing inland, but high demand (and higher prices) in popular beach towns like Wilmington and the Outer Banks.
Western NC (mountains): Asheville and Boone are more expensive due to tourism, retirees, and vacation homes.