Granville County, North Carolina Housing Market Prices
Granville 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 59% below the North Carolina median Cheaper than 78% of counties in North Carolina$113,314
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Median rent 18% below the North Carolina median$1,008
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Granville County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $113,314 | $278,288 | $248,835 |
| Price Trend (Annual %) | 2.6% | 9.3% | 7.5% |
| Median Gross Rent | $1,008 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 3.8% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Granville County is about 59% lower than in North Carolina. Rent is about 18% lower 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 Granville County, up about 2.6% and 3.8% a year respectively. Rent is changing faster.
Median rent in Granville County rose about 31.4% between 2015 and 2024, from $767 to $1,008. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Granville County.
Buying the median-priced home in Granville County costs roughly 9.4 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 Granville County. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Granville County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $113,314 | $278,288 | $248,835 |
| Median Household Income | $71,064 | $72,438 | $80,455 |
| Price-to-Income Ratio | 1.6 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Granville County rose about 7.7%, while median household income rose about 40.8% 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 | Granville County | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.9% | 58.3% | 58.5% |
| Rental Rate | 20.8% | 29.2% | 31.2% |
| Vacancy Rate | 9.3% | 12.5% | 10.2% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Granville County has a homeownership rate of 69.9%, higher than the North Carolina average of 58.3%. Its housing vacancy rate is 9.3%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Granville County | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.51 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1991 | 1989 | 1978 |
| Median Number of Rooms | 5.9 | 5.6 | 5.5 |
The typical housing unit in Granville County was built around 1991. On average, 2.5 people live in a home with about 5.9 rooms, staying for about 18.0 years on average.
Granville County, NC Housing Compared With Nearby Counties
Granville County, NC is typical in size for this group, 60,874 residents against a local median of 58,363, so the measures below are close to a like for like comparison. Where Granville County, NC breaks from the counties next to it is median home price, sitting 61% below the local median of $291,473 at $113,314.
The counties themselves spread $1,891,815 on median home price, so Granville County, NC sits at one end of an already wide local range rather than apart from it. Granville County, NC has the 5th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Granville County, NC | 60,874 | $113,314 #5/5 | $1,008 #3/5 | 77.1% #3/5 |
| Vance County, NC | 42,305 | $134,971 | $882 | 60.1% |
| Person County, NC | 39,541 | $2,026,786 | $864 | 77.3% |
| Durham County, NC | 331,707 | $290,354 | $1,507 | 55.5% |
| Franklin County, NC | 74,421 | $292,591 | $1,083 | 78.6% |
Frequently Asked Questions
Common questions about the housing market in Granville County, North Carolina.
What is the median home price in Granville County, North Carolina?
The median home price in Granville County, North Carolina is $113,314, lower than the North Carolina average of $278,288.
What is the average home price in Granville County, North Carolina?
The typical home price in Granville County, North Carolina, reported as the median sale price, is $113,314. 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 Granville County, North Carolina?
The median gross rent in Granville County, North Carolina is $1,008 per month, lower than the North Carolina average of $1,227.
What was the median gross rent in Granville County in 2020?
In 2020, the median gross rent in Granville County, North Carolina was $848 per month.
What is the price-to-rent ratio in Granville County, North Carolina?
The price-to-rent ratio in Granville County, North Carolina is about 9.4, meaning it would take roughly 9.4 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 Granville County.
Are home prices or rent rising faster in Granville County, North Carolina?
Both home prices and rent are rising in Granville County, up about 2.6% and 3.8% a year respectively. Rent is changing faster.
What is the homeownership rate in Granville County, North Carolina?
69.9% of households in Granville County, North Carolina own their home, higher than the North Carolina average of 58.3%.
What is the vacancy rate in Granville County, North Carolina?
The housing vacancy rate in Granville County, North Carolina is 9.3%, lower than the North Carolina average of 12.5%.
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