Dare County, North Carolina Housing Market Prices
Dare 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 75% below the North Carolina median Cheaper than 95% of counties in North Carolina$69,230
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Median rent 10% above the North Carolina median More expensive than 91% of counties in North Carolina$1,345
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Dare County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $69,230 | $278,288 | $248,835 |
| Price Trend (Annual %) | -7.8% | 9.3% | 7.5% |
| Median Gross Rent | $1,345 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 3.2% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Dare County is about 75% lower than in North Carolina. Rent is about 10% higher 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 Dare County: home prices fell about 7.8% a year while rent rose about 3.2% a year. That is an unusual pattern worth watching.
Median rent in Dare County rose about 28.3% between 2015 and 2024, from $1,048 to $1,345. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 0.8 yearly household incomes in Dare County.
Buying the median-priced home in Dare County costs roughly 4.3 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 Dare County. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Dare County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $69,230 | $278,288 | $248,835 |
| Median Household Income | $89,741 | $72,438 | $80,455 |
| Price-to-Income Ratio | 0.8 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Dare County fell about 73.3%, while median household income rose about 52.6% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Dare County | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 37.4% | 58.3% | 58.5% |
| Rental Rate | 10.3% | 29.2% | 31.2% |
| Vacancy Rate | 52.3% | 12.5% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Dare County has a homeownership rate of 37.4%, lower than the North Carolina average of 58.3%. Its housing vacancy rate is 52.3%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Dare County | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.24 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1991 | 1989 | 1978 |
| Median Number of Rooms | 5.2 | 5.6 | 5.5 |
The typical housing unit in Dare County was built around 1991. On average, 2.2 people live in a home with about 5.2 rooms, staying for about 16.0 years on average.
Dare County, NC Housing Compared With Nearby Counties
How Dare County, NC compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Dare County, NC | 37,875 | $69,230 #3/3 | $1,345 #1/3 | 78.4% #1/3 |
| Tyrrell County, NC | 3,423 | $98,928 | $643 | 77.8% |
| Pasquotank County, NC | 40,823 | $104,038 | $1,169 | 67.5% |
Frequently Asked Questions
Common questions about the housing market in Dare County, North Carolina.
What is the median home price in Dare County, North Carolina?
The median home price in Dare County, North Carolina is $69,230, lower than the North Carolina average of $278,288.
What is the average home price in Dare County, North Carolina?
The typical home price in Dare County, North Carolina, reported as the median sale price, is $69,230. 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 Dare County, North Carolina?
The median gross rent in Dare County, North Carolina is $1,345 per month, higher than the North Carolina average of $1,227.
What was the median gross rent in Dare County in 2020?
In 2020, the median gross rent in Dare County, North Carolina was $1,136 per month.
What is the price-to-rent ratio in Dare County, North Carolina?
The price-to-rent ratio in Dare County, North Carolina is about 4.3, meaning it would take roughly 4.3 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 Dare County.
Are home prices or rent rising faster in Dare County, North Carolina?
Home prices and rent are moving in opposite directions in Dare County: home prices fell about 7.8% a year while rent rose about 3.2% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Dare County, North Carolina?
37.4% of households in Dare County, North Carolina own their home, lower than the North Carolina average of 58.3%.
What is the vacancy rate in Dare County, North Carolina?
The housing vacancy rate in Dare County, North Carolina is 52.3%, higher than the North Carolina average of 12.5%.
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