Housing Market Overview
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 Map: Nearby Counties
Housing Market Overview
| Metric | Currituck County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $2,000,000 | $265,624 | $242,182 |
| Price Trend (Annual %) | 61.6% | 9.9% | 8.2% |
| Median Gross Rent | $1,126 | $1,162 | $1,342 |
| Rent Trend (Annual %) | 2.4% | 5.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Currituck County is about 653% higher than in North Carolina. Rent is about 3% lower than the North Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Currituck County, up about 61.6% and 2.4% a year respectively. Home prices are changing faster.
Median rent in Currituck County rose about 13.7% between 2015 and 2023, from $990 to $1,126. Over the same span, rent in North Carolina rose about 45.9%.
Affordability
On average, housing unit costs 20.9 yearly household incomes in Currituck County.
Buying the median-priced home in Currituck County costs roughly 148.1 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 Currituck County. The price-to-rent ratio in North Carolina is about 19.1.
| Metric | Currituck County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $2,000,000 | $265,624 | $242,182 |
| Median Household Income | $95,854 | $69,937 | $78,145 |
| Price-to-Income Ratio | 20.9 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Currituck County rose about 921.0%, while median household income rose about 70.5% between 2009 and 2023 — 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 | Currituck County | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.5% | 57.7% | 58.2% |
| Rental Rate | 8.6% | 29.2% | 31.3% |
| Vacancy Rate | 30.9% | 13.0% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Currituck County has a homeownership rate of 60.5%, higher than the North Carolina average of 57.7%. Its housing vacancy rate is 30.9%, compared with 13.0% in North Carolina.
Housing Stock
| Metric | Currituck County | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.57 people | 2.46 people | 2.54 people |
| Median Structure Built Year | 1996 | 1988 | 1978 |
| Median Number of Rooms | 6.5 | 5.6 | 5.5 |
The typical housing unit in Currituck County was built around 1996. On average, 2.6 people live in a home with about 6.5 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Currituck County, North Carolina.
What is the median home price in Currituck County, North Carolina?
The median home price in Currituck County, North Carolina is $2,000,000, higher than the North Carolina average of $265,624.
What is the average home price in Currituck County, North Carolina?
The typical home price in %s, reported as the median sale price, is %s. 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 Currituck County, North Carolina?
The median gross rent in Currituck County, North Carolina is $1,126 per month, lower than the North Carolina average of $1,162.
What was the median gross rent in Currituck County in 2020?
In 2020, the median gross rent in Currituck County, North Carolina was $1,101 per month.
What is the price-to-rent ratio in Currituck County, North Carolina?
The price-to-rent ratio in Currituck County, North Carolina is about 148.1, meaning it would take roughly 148.1 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 Currituck County.
Are home prices or rent rising faster in Currituck County, North Carolina?
Both home prices and rent are rising in Currituck County, up about 61.6% and 2.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Currituck County, North Carolina?
60.5% of households in Currituck County, North Carolina own their home, higher than the North Carolina average of 57.7%.
What is the vacancy rate in Currituck County, North Carolina?
The housing vacancy rate in Currituck County, North Carolina is 30.9%, higher than the North Carolina average of 13.0%.