Kannapolis, North Carolina Housing Market Prices
Kannapolis 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 16% below the North Carolina median$232,432
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Median rent 8% above the North Carolina median$1,324
Housing Market Overview
| Metric | Kannapolis | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $232,432 | $278,288 | $248,835 |
| Price Trend (Annual %) | 14.6% | 9.3% | 7.5% |
| Median Gross Rent | $1,324 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 6.3% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Kannapolis is about 16% lower than in North Carolina. Rent is about 8% 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 Kannapolis, up about 14.6% and 6.3% a year respectively. Home prices are changing faster.
Median rent in Kannapolis rose about 65.3% between 2015 and 2024, from $801 to $1,324. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 3.3 yearly household incomes in Kannapolis.
Buying the median-priced home in Kannapolis costs roughly 14.6 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 Kannapolis. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Kannapolis | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $232,432 | $278,288 | $248,835 |
| Median Household Income | $69,933 | $72,438 | $80,455 |
| Price-to-Income Ratio | 3.3 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Kannapolis rose about 80.2%, while median household income rose about 55.5% 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 | Kannapolis | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.7% | 58.3% | 58.5% |
| Rental Rate | 32.1% | 29.2% | 31.2% |
| Vacancy Rate | 11.2% | 12.5% | 10.2% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
Kannapolis has a homeownership rate of 56.7%, lower than the North Carolina average of 58.3%. Its housing vacancy rate is 11.2%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Kannapolis | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.55 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1982 | 1989 | 1978 |
| Median Number of Rooms | 5.0 | 5.6 | 5.5 |
The typical housing unit in Kannapolis was built around 1982. On average, 2.5 people live in a home with about 5.0 rooms, staying for about 11.0 years on average.
Kannapolis, NC Housing Compared With Nearby Cities
How Kannapolis, NC compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Kannapolis, NC | 50,058 | $232,432 #1/2 | $1,324 #2/2 | 63.8% #2/2 |
| Concord, NC | 97,304 | $215,704 | $1,412 | 64.5% |
Frequently Asked Questions
Common questions about the housing market in Kannapolis, North Carolina.
What is the median home price in Kannapolis, North Carolina?
The median home price in Kannapolis, North Carolina is $232,432, lower than the North Carolina average of $278,288.
What is the average home price in Kannapolis, North Carolina?
The typical home price in Kannapolis, North Carolina, reported as the median sale price, is $232,432. 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 Kannapolis, North Carolina?
The median gross rent in Kannapolis, North Carolina is $1,324 per month, higher than the North Carolina average of $1,227.
What was the median gross rent in Kannapolis in 2020?
In 2020, the median gross rent in Kannapolis, North Carolina was $875 per month.
What is the price-to-rent ratio in Kannapolis, North Carolina?
The price-to-rent ratio in Kannapolis, North Carolina is about 14.6, meaning it would take roughly 14.6 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 Kannapolis.
Are home prices or rent rising faster in Kannapolis, North Carolina?
Both home prices and rent are rising in Kannapolis, up about 14.6% and 6.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Kannapolis, North Carolina?
56.7% of households in Kannapolis, North Carolina own their home, lower than the North Carolina average of 58.3%.
What is the vacancy rate in Kannapolis, North Carolina?
The housing vacancy rate in Kannapolis, North Carolina is 11.2%, lower than the North Carolina average of 12.5%.
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