North Carolina
Ranked #24 of 51 for housing affordability
Median Home Price
🏠$309K
4.36x income
Median Rent
🔑$1,245
31.5% rent-burdened
Median Income
💰$71K
Population: 10,698,973
Homeownership
🏡66.0%
9,280 experiencing homelessness
Housing Shortage
📉160,000
units needed
Building Permits (2024)
🔨95,163
Price-to-Income
📊4.36x
Severe Rent Burden
⚠️15.0%
paying >50% of income
Rent Burden Breakdown
vs. National Average
House Price Index (2000–2025)
FHFA All-Transactions HPI · Base = 100 (1980s)
HUD Fair Market Rents (FY2026)
Maximum rent HUD considers fair for Section 8 voucher holders
FMR ($1378) is above the state median rent ($1245) — vouchers cover typical rents.
Metros in North Carolina
| Metro | Score | Home Price | Rent | Income | Rent Burden |
|---|---|---|---|---|---|
| Charlotte | 45 | $381K | $1,505 | $81K | 32.0% |
| Raleigh | 45 | $440K | $1,605 | $96K | 30.0% |
| Greensboro | 60 | $244K | $1,103 | $63K | 32.0% |
| Winston-Salem | 81 | $249K | $994 | $64K | 18.7% |
| Durham-Chapel Hill | 48 | $415K | $1,532 | $83K | 31.0% |
| Asheville | 61 | $399K | $1,286 | $68K | 19.0% |
| Hickory-Lenoir-Morganton | 80 | $230K | $828 | $58K | 14.6% |
| Fayetteville | 85 | $217K | $1,220 | $61K | 22.7% |
| Rocky Mount | 90 | $188K | $884 | $61K | 13.0% |
| Goldsboro | 87 | $182K | $931 | $55K | 15.5% |
| Pinehurst-Southern Pines | 73 | $369K | $1,342 | $78K | 24.5% |
Market Trends
Homeownership Rate
66.0%
Rent-to-Income Ratio
21.0%
of gross income spent on rent
Total Households
4,392,669
Owner-Occupied
2,913,467
Renter-Occupied
1,479,202
Homelessness
Latest Count (2024)
11,626
1-Year Change
+19.2%
10-Year Trend (2015–2024)
+8.8%
10,685 → 11,626
Housing Policies
Construction Activity
Total Permits (2024)
95,163
6.8% of national total
Single-Family
70,047
74% of state permits
Multi-Family
25,116
26% of state permits
Mortgage Access
National HMDA data — mortgage denial rates by race/ethnicity
Denial Rates by Race
Top Denial Reasons
Housing Shortage
State Shortage
160,000
units needed
National Shortage
7,300,000
2.2% of national total
Affordable Units per 100 ELI Renters
35
nationally (NLIHC)
National Shortage by Unit Type
45%
Single-Family
18%
Small Multi (2-4)
22%
Medium Multi (5-49)
15%
Large Multi (50+)
Rent Burden Detail
North Carolina burden rates with national demographic breakdown
Cost-Burdened Renters
31.5%
paying >30% of income
Severely Burdened
15.0%
paying >50% of income
Households >30% Burden
318,115
Households >35% Burden
122,899