Hickory, North Carolina Housing Market Prices
Hickory 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 23% below the North Carolina median$215,420
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Median rent 19% below the North Carolina median$994
Housing Market Overview
| Metric | Hickory | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $215,420 | $278,288 | $248,835 |
| Price Trend (Annual %) | 17.9% | 9.3% | 7.5% |
| Median Gross Rent | $994 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 5.4% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hickory is about 23% lower than in North Carolina. Rent is about 19% 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 Hickory, up about 17.9% and 5.4% a year respectively. Home prices are changing faster.
Median rent in Hickory rose about 52.8% between 2015 and 2024, from $650 to $994. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in Hickory.
Buying the median-priced home in Hickory costs roughly 18.1 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 Hickory. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Hickory | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $215,420 | $278,288 | $248,835 |
| Median Household Income | $56,601 | $72,438 | $80,455 |
| Price-to-Income Ratio | 3.8 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Hickory rose about 81.3%, while median household income rose about 46.4% 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 | Hickory | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.6% | 58.3% | 58.5% |
| Rental Rate | 39.0% | 29.2% | 31.2% |
| Vacancy Rate | 10.4% | 12.5% | 10.2% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
Hickory has a homeownership rate of 50.6%, lower than the North Carolina average of 58.3%. Its housing vacancy rate is 10.4%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Hickory | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.35 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1977 | 1989 | 1978 |
| Median Number of Rooms | 5.3 | 5.6 | 5.5 |
The typical housing unit in Hickory was built around 1977. On average, 2.3 people live in a home with about 5.3 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hickory, North Carolina.
What is the median home price in Hickory, North Carolina?
The median home price in Hickory, North Carolina is $215,420, lower than the North Carolina average of $278,288.
What is the average home price in Hickory, North Carolina?
The typical home price in Hickory, North Carolina, reported as the median sale price, is $215,420. 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 Hickory, North Carolina?
The median gross rent in Hickory, North Carolina is $994 per month, lower than the North Carolina average of $1,227.
What was the median gross rent in Hickory in 2020?
In 2020, the median gross rent in Hickory, North Carolina was $734 per month.
What is the price-to-rent ratio in Hickory, North Carolina?
The price-to-rent ratio in Hickory, North Carolina is about 18.1, meaning it would take roughly 18.1 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 Hickory.
Are home prices or rent rising faster in Hickory, North Carolina?
Both home prices and rent are rising in Hickory, up about 17.9% and 5.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hickory, North Carolina?
50.6% of households in Hickory, North Carolina own their home, lower than the North Carolina average of 58.3%.
What is the vacancy rate in Hickory, North Carolina?
The housing vacancy rate in Hickory, North Carolina is 10.4%, lower than the North Carolina average of 12.5%.
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