Concord, North Carolina Housing Market Prices
Concord 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.
-
Median home price 22% below the North Carolina median$215,704
-
Median rent 15% above the North Carolina median$1,412
Housing Market Overview
| Metric | Concord | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $215,704 | $278,288 | $248,835 |
| Price Trend (Annual %) | 7.7% | 9.3% | 7.5% |
| Median Gross Rent | $1,412 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 7.0% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Concord is about 22% lower than in North Carolina. Rent is about 15% 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 Concord, up about 7.7% and 7.0% a year respectively. Home prices are changing faster.
Median rent in Concord rose about 74.7% between 2015 and 2024, from $808 to $1,412. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Concord.
Buying the median-priced home in Concord costs roughly 12.7 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 Concord. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Concord | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $215,704 | $278,288 | $248,835 |
| Median Household Income | $83,714 | $72,438 | $80,455 |
| Price-to-Income Ratio | 2.6 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Concord rose about 56.7%, while median household income rose about 52.0% 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 | Concord | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.3% | 58.3% | 58.5% |
| Rental Rate | 31.6% | 29.2% | 31.2% |
| Vacancy Rate | 11.1% | 12.5% | 10.2% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
Concord has a homeownership rate of 57.3%, lower than the North Carolina average of 58.3%. Its housing vacancy rate is 11.1%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Concord | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.77 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1990 | 1989 | 1978 |
| Median Number of Rooms | 5.4 | 5.6 | 5.5 |
The typical housing unit in Concord was built around 1990. On average, 2.8 people live in a home with about 5.4 rooms, staying for about 11.0 years on average.
Concord, NC Housing Compared With Nearby Cities
How Concord, NC compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Concord, NC | 97,304 | $215,704 #2/2 | $1,412 #1/2 | 64.5% #1/2 |
| Kannapolis, NC | 50,058 | $232,432 | $1,324 | 63.8% |
Frequently Asked Questions
Common questions about the housing market in Concord, North Carolina.
What is the median home price in Concord, North Carolina?
The median home price in Concord, North Carolina is $215,704, lower than the North Carolina average of $278,288.
What is the average home price in Concord, North Carolina?
The typical home price in Concord, North Carolina, reported as the median sale price, is $215,704. 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 Concord, North Carolina?
The median gross rent in Concord, North Carolina is $1,412 per month, higher than the North Carolina average of $1,227.
What was the median gross rent in Concord in 2020?
In 2020, the median gross rent in Concord, North Carolina was $994 per month.
What is the price-to-rent ratio in Concord, North Carolina?
The price-to-rent ratio in Concord, North Carolina is about 12.7, meaning it would take roughly 12.7 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 Concord.
Are home prices or rent rising faster in Concord, North Carolina?
Both home prices and rent are rising in Concord, up about 7.7% and 7.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Concord, North Carolina?
57.3% of households in Concord, North Carolina own their home, lower than the North Carolina average of 58.3%.
What is the vacancy rate in Concord, North Carolina?
The housing vacancy rate in Concord, North Carolina is 11.1%, lower than the North Carolina average of 12.5%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →