Chowan County, North Carolina Housing Market Prices
Chowan 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 60% above the North Carolina median More expensive than 95% of counties in North Carolina$445,528
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Median rent 45% below the North Carolina median Among the top 5 cheapest counties in North Carolina$681
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Chowan County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $445,528 | $278,288 | $248,835 |
| Price Trend (Annual %) | 34.6% | 9.3% | 7.5% |
| Median Gross Rent | $681 | $1,227 | $1,407 |
| Rent Trend (Annual %) | -0.8% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Chowan County is about 60% higher than in North Carolina. Rent is about 45% lower than the North Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Chowan County: home prices rose about 34.6% a year while rent fell about 0.8% a year. That is an unusual pattern worth watching.
Median rent in Chowan County fell about 7.1% between 2015 and 2024, from $733 to $681. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 7.8 yearly household incomes in Chowan County.
Buying the median-priced home in Chowan County costs roughly 54.5 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 Chowan County. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Chowan County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $445,528 | $278,288 | $248,835 |
| Median Household Income | $56,822 | $72,438 | $80,455 |
| Price-to-Income Ratio | 7.8 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Chowan County rose about 240.7%, while median household income rose about 44.1% 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 | Chowan County | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.2% | 58.3% | 58.5% |
| Rental Rate | 25.1% | 29.2% | 31.2% |
| Vacancy Rate | 14.7% | 12.5% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Chowan County has a homeownership rate of 60.2%, higher than the North Carolina average of 58.3%. Its housing vacancy rate is 14.7%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Chowan County | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.21 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1977 | 1989 | 1978 |
| Median Number of Rooms | 5.9 | 5.6 | 5.5 |
The typical housing unit in Chowan County was built around 1977. On average, 2.2 people live in a home with about 5.9 rooms, staying for about 17.0 years on average.
Chowan County, NC Housing Compared With Nearby Counties
Chowan County, NC is typical in size for this group, 13,836 residents against a local median of 15,205, so the measures below are close to a like for like comparison. Where Chowan County, NC breaks from the counties next to it is median home price, sitting 261% above the local median of $123,252 at $445,528.
Median rent tells the same story from another angle: $681 against a local median of $1,075, 37% below it. The counties themselves spread $339,928 on median home price, so Chowan County, NC sits at one end of an already wide local range rather than apart from it. Chowan County, NC has the highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Chowan County, NC | 13,836 | $445,528 #1/5 | $681 #5/5 | 70.5% #4/5 |
| Perquimans County, NC | 13,244 | $431,928 | $1,008 | 76.5% |
| Gates County, NC | 10,369 | $142,465 | $1,142 | 80.9% |
| Bertie County, NC | 17,166 | $92,000 | $838 | 72.7% |
| Pasquotank County, NC | 40,823 | $104,038 | $1,169 | 67.5% |
Frequently Asked Questions
Common questions about the housing market in Chowan County, North Carolina.
What is the median home price in Chowan County, North Carolina?
The median home price in Chowan County, North Carolina is $445,528, higher than the North Carolina average of $278,288.
What is the average home price in Chowan County, North Carolina?
The typical home price in Chowan County, North Carolina, reported as the median sale price, is $445,528. 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 Chowan County, North Carolina?
The median gross rent in Chowan County, North Carolina is $681 per month, lower than the North Carolina average of $1,227.
What was the median gross rent in Chowan County in 2020?
In 2020, the median gross rent in Chowan County, North Carolina was $772 per month.
What is the price-to-rent ratio in Chowan County, North Carolina?
The price-to-rent ratio in Chowan County, North Carolina is about 54.5, meaning it would take roughly 54.5 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 Chowan County.
Are home prices or rent rising faster in Chowan County, North Carolina?
Home prices and rent are moving in opposite directions in Chowan County: home prices rose about 34.6% a year while rent fell about 0.8% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Chowan County, North Carolina?
60.2% of households in Chowan County, North Carolina own their home, higher than the North Carolina average of 58.3%.
What is the vacancy rate in Chowan County, North Carolina?
The housing vacancy rate in Chowan County, North Carolina is 14.7%, higher than the North Carolina average of 12.5%.
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