Cherokee County, North Carolina Housing Market Prices
Cherokee 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 24% below the North Carolina median$210,710
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Median rent 34% below the North Carolina median$813
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Cherokee County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $210,710 | $278,288 | $248,835 |
| Price Trend (Annual %) | 10.0% | 9.3% | 7.5% |
| Median Gross Rent | $813 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 2.4% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cherokee County is about 24% lower than in North Carolina. Rent is about 34% 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 Cherokee County, up about 10.0% and 2.4% a year respectively. Home prices are changing faster.
Median rent in Cherokee County rose about 22.2% between 2015 and 2024, from $665 to $813. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Cherokee County.
Buying the median-priced home in Cherokee County costs roughly 21.6 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Cherokee County. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Cherokee County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $210,710 | $278,288 | $248,835 |
| Median Household Income | $54,386 | $72,438 | $80,455 |
| Price-to-Income Ratio | 3.9 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Cherokee County rose about 150.4%, while median household income rose about 36.4% 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 | Cherokee County | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.2% | 58.3% | 58.5% |
| Rental Rate | 11.7% | 29.2% | 31.2% |
| Vacancy Rate | 28.1% | 12.5% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Cherokee County has a homeownership rate of 60.2%, higher than the North Carolina average of 58.3%. Its housing vacancy rate is 28.1%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Cherokee County | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.20 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 Cherokee County was built around 1992. On average, 2.2 people live in a home with about 5.2 rooms, staying for about 16.0 years on average.
Cherokee County, NC Housing Compared With Nearby Counties
How Cherokee County, NC compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Cherokee County, NC | 29,563 | $210,710 #3/3 | $813 #2/3 | 83.7% #2/3 |
| Union County, GA | 26,304 | $336,792 | $807 | 84.4% |
| Fannin County, GA | 25,731 | $434,538 | $899 | 78.6% |
Frequently Asked Questions
Common questions about the housing market in Cherokee County, North Carolina.
What is the median home price in Cherokee County, North Carolina?
The median home price in Cherokee County, North Carolina is $210,710, lower than the North Carolina average of $278,288.
What is the average home price in Cherokee County, North Carolina?
The typical home price in Cherokee County, North Carolina, reported as the median sale price, is $210,710. 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 Cherokee County, North Carolina?
The median gross rent in Cherokee County, North Carolina is $813 per month, lower than the North Carolina average of $1,227.
What was the median gross rent in Cherokee County in 2020?
In 2020, the median gross rent in Cherokee County, North Carolina was $712 per month.
What is the price-to-rent ratio in Cherokee County, North Carolina?
The price-to-rent ratio in Cherokee County, North Carolina is about 21.6, meaning it would take roughly 21.6 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Cherokee County.
Are home prices or rent rising faster in Cherokee County, North Carolina?
Both home prices and rent are rising in Cherokee County, up about 10.0% and 2.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Cherokee County, North Carolina?
60.2% of households in Cherokee County, North Carolina own their home, higher than the North Carolina average of 58.3%.
What is the vacancy rate in Cherokee County, North Carolina?
The housing vacancy rate in Cherokee County, North Carolina is 28.1%, higher than the North Carolina average of 12.5%.
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