Burke County, North Carolina Housing Market Prices
Burke County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 71% below the North Carolina median Cheaper than 93% of counties in North Carolina$79,920
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Median rent 28% below the North Carolina median$883
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Burke County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $79,920 | $278,288 | $248,835 |
| Price Trend (Annual %) | 2.3% | 9.3% | 7.5% |
| Median Gross Rent | $883 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 4.7% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Burke County is about 71% lower than in North Carolina. Rent is about 28% lower than the North Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Burke County, up about 2.3% and 4.7% a year respectively. Rent is changing faster.
Median rent in Burke County rose about 45.1% between 2015 and 2024, from $609 to $883. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 1.4 yearly household incomes in Burke County.
Buying the median-priced home in Burke County costs roughly 7.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Burke County. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Burke County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $79,920 | $278,288 | $248,835 |
| Median Household Income | $59,001 | $72,438 | $80,455 |
| Price-to-Income Ratio | 1.4 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Burke County fell about 46.5%, while median household income rose about 50.4% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Burke County | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.0% | 58.3% | 58.5% |
| Rental Rate | 22.9% | 29.2% | 31.2% |
| Vacancy Rate | 10.0% | 12.5% | 10.2% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Burke County has a homeownership rate of 67.0%, higher than the North Carolina average of 58.3%. Its housing vacancy rate is 10.0%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Burke County | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.34 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1981 | 1989 | 1978 |
| Median Number of Rooms | 5.4 | 5.6 | 5.5 |
The typical housing unit in Burke County was built around 1981. On average, 2.3 people live in a home with about 5.4 rooms, staying for about 18.0 years on average.
Burke County, NC Housing Compared With Nearby Counties
Burke County, NC is the 2nd largest of the 6 counties compared here, 87,684 residents against a local median of 64,922. The measure that sets Burke County, NC apart most is median home price: $79,920, 61% below the local median of $202,989.
The counties themselves spread $186,265 on median home price, so Burke County, NC sits at one end of an already wide local range rather than apart from it. Burke County, NC has the 6th highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Burke County, NC | 87,684 | $79,920 #6/6 | $883 #2/6 | 74.5% #3/6 |
| Caldwell County, NC | 80,517 | $269,620 | $743 | 73.5% |
| McDowell County, NC | 44,809 | $202,989 | $806 | 75.6% |
| Avery County, NC | 17,672 | $185,807 | $772 | 83.0% |
| Rutherford County, NC | 64,922 | $290,943 | $783 | 73.9% |
| Cleveland County, NC | 100,962 | $104,677 | $913 | 70.9% |
Frequently Asked Questions
Common questions about the housing market in Burke County, North Carolina.
What is the median home price in Burke County, North Carolina?
The median home price in Burke County, North Carolina is $79,920, lower than the North Carolina average of $278,288.
What is the average home price in Burke County, North Carolina?
The typical home price in Burke County, North Carolina, reported as the median sale price, is $79,920. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Burke County, North Carolina?
The median gross rent in Burke County, North Carolina is $883 per month, lower than the North Carolina average of $1,227.
What was the median gross rent in Burke County in 2020?
In 2020, the median gross rent in Burke County, North Carolina was $668 per month.
What is the price-to-rent ratio in Burke County, North Carolina?
The price-to-rent ratio in Burke County, North Carolina is about 7.5, meaning it would take roughly 7.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Burke County.
Are home prices or rent rising faster in Burke County, North Carolina?
Both home prices and rent are rising in Burke County, up about 2.3% and 4.7% a year respectively. Rent is changing faster.
What is the homeownership rate in Burke County, North Carolina?
67.0% of households in Burke County, North Carolina own their home, higher than the North Carolina average of 58.3%.
What is the vacancy rate in Burke County, North Carolina?
The housing vacancy rate in Burke County, North Carolina is 10.0%, lower than the North Carolina average of 12.5%.
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