Charlotte, North Carolina Housing Market Prices
Charlotte 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 21% above the North Carolina median$336,465
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Median rent 31% above the North Carolina median$1,610
Housing Market Overview
| Metric | Charlotte | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $336,465 | $278,288 | $248,835 |
| Price Trend (Annual %) | 8.6% | 9.3% | 7.5% |
| Median Gross Rent | $1,610 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 6.7% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Charlotte is about 21% higher than in North Carolina. Rent is about 31% higher 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 Charlotte, up about 8.6% and 6.7% a year respectively. Home prices are changing faster.
Median rent in Charlotte rose about 74.5% between 2015 and 2024, from $923 to $1,610. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 4.1 yearly household incomes in Charlotte.
Buying the median-priced home in Charlotte costs roughly 17.4 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Charlotte. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Charlotte | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $336,465 | $278,288 | $248,835 |
| Median Household Income | $82,573 | $72,438 | $80,455 |
| Price-to-Income Ratio | 4.1 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Charlotte rose about 79.3%, while median household income rose about 52.4% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Charlotte | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 46.8% | 58.3% | 58.5% |
| Rental Rate | 45.5% | 29.2% | 31.2% |
| Vacancy Rate | 7.8% | 12.5% | 10.2% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
Charlotte has a homeownership rate of 46.8%, lower than the North Carolina average of 58.3%. Its housing vacancy rate is 7.8%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Charlotte | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1992 | 1989 | 1978 |
| Median Number of Rooms | 5.2 | 5.6 | 5.5 |
The typical housing unit in Charlotte was built around 1992. On average, 2.4 people live in a home with about 5.2 rooms, staying for about 11.0 years on average.
Charlotte, NC Housing Compared With Nearby Cities
How Charlotte, NC compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Charlotte, NC | 877,380 | $336,465 #2/3 | $1,610 #2/3 | 50.7% #3/3 |
| Mint Hill, NC | 25,060 | $352,520 | $1,507 | 83.7% |
| Huntersville, NC | 52,008 | $276,674 | $1,849 | 72.0% |
Frequently Asked Questions
Common questions about the housing market in Charlotte, North Carolina.
What is the median home price in Charlotte, North Carolina?
The median home price in Charlotte, North Carolina is $336,465, higher than the North Carolina average of $278,288.
What is the average home price in Charlotte, North Carolina?
The typical home price in Charlotte, North Carolina, reported as the median sale price, is $336,465. 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 Charlotte, North Carolina?
The median gross rent in Charlotte, North Carolina is $1,610 per month, higher than the North Carolina average of $1,227.
What was the median gross rent in Charlotte in 2020?
In 2020, the median gross rent in Charlotte, North Carolina was $1,184 per month.
What is the price-to-rent ratio in Charlotte, North Carolina?
The price-to-rent ratio in Charlotte, North Carolina is about 17.4, meaning it would take roughly 17.4 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Charlotte.
Are home prices or rent rising faster in Charlotte, North Carolina?
Both home prices and rent are rising in Charlotte, up about 8.6% and 6.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Charlotte, North Carolina?
46.8% of households in Charlotte, North Carolina own their home, lower than the North Carolina average of 58.3%.
What is the vacancy rate in Charlotte, North Carolina?
The housing vacancy rate in Charlotte, North Carolina is 7.8%, lower than the North Carolina average of 12.5%.
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