Cornelius, North Carolina Housing Market Prices
Cornelius 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 33% above the North Carolina median$369,605
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Median rent 38% above the North Carolina median$1,693
Housing Market Overview
| Metric | Cornelius | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $369,605 | $278,288 | $248,835 |
| Price Trend (Annual %) | 2.5% | 9.3% | 7.5% |
| Median Gross Rent | $1,693 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 5.1% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cornelius is about 33% higher than in North Carolina. Rent is about 38% 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 Cornelius, up about 2.5% and 5.1% a year respectively. Rent is changing faster.
Median rent in Cornelius rose about 56.4% between 2015 and 2024, from $1,083 to $1,693. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 3.6 yearly household incomes in Cornelius.
Buying the median-priced home in Cornelius costs roughly 18.2 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 Cornelius. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Cornelius | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $369,605 | $278,288 | $248,835 |
| Median Household Income | $104,023 | $72,438 | $80,455 |
| Price-to-Income Ratio | 3.6 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Cornelius rose about 44.9%, while median household income rose about 44.5% between 2009 and 2025 — keeping pace with each other.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Cornelius | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.7% | 58.3% | 58.5% |
| Rental Rate | 36.1% | 29.2% | 31.2% |
| Vacancy Rate | 7.2% | 12.5% | 10.2% |
| Median Tenure (years) | 10.0 | 15.0 | 15.0 |
| Median Year Moved In | 2016 | 2011 | 2011 |
Cornelius has a homeownership rate of 56.7%, lower than the North Carolina average of 58.3%. Its housing vacancy rate is 7.2%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Cornelius | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.31 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 2002 | 1989 | 1978 |
| Median Number of Rooms | 6.0 | 5.6 | 5.5 |
The typical housing unit in Cornelius was built around 2002. On average, 2.3 people live in a home with about 6.0 rooms, staying for about 10.0 years on average.
Cornelius, NC Housing Compared With Nearby Cities
How Cornelius, NC compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Cornelius, NC | 23,004 | $369,605 #1/3 | $1,693 #2/3 | 61.1% #3/3 |
| Huntersville, NC | 52,008 | $276,674 | $1,849 | 72.0% |
| Mooresville, NC | 32,577 | $227,062 | $1,515 | 63.5% |
Frequently Asked Questions
Common questions about the housing market in Cornelius, North Carolina.
What is the median home price in Cornelius, North Carolina?
The median home price in Cornelius, North Carolina is $369,605, higher than the North Carolina average of $278,288.
What is the average home price in Cornelius, North Carolina?
The typical home price in Cornelius, North Carolina, reported as the median sale price, is $369,605. 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 Cornelius, North Carolina?
The median gross rent in Cornelius, North Carolina is $1,693 per month, higher than the North Carolina average of $1,227.
What was the median gross rent in Cornelius in 2020?
In 2020, the median gross rent in Cornelius, North Carolina was $1,277 per month.
What is the price-to-rent ratio in Cornelius, North Carolina?
The price-to-rent ratio in Cornelius, North Carolina is about 18.2, meaning it would take roughly 18.2 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 Cornelius.
Are home prices or rent rising faster in Cornelius, North Carolina?
Both home prices and rent are rising in Cornelius, up about 2.5% and 5.1% a year respectively. Rent is changing faster.
What is the homeownership rate in Cornelius, North Carolina?
56.7% of households in Cornelius, North Carolina own their home, lower than the North Carolina average of 58.3%.
What is the vacancy rate in Cornelius, North Carolina?
The housing vacancy rate in Cornelius, North Carolina is 7.2%, lower than the North Carolina average of 12.5%.
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