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 | Macon County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $116,348 | $265,624 | $242,182 |
| Price Trend (Annual %) | -6.5% | 9.9% | 8.2% |
| Median Gross Rent | $790 | $1,162 | $1,342 |
| Rent Trend (Annual %) | 1.5% | 5.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Macon County is about 56% lower than in North Carolina. Rent is about 32% lower than the North Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Macon County: home prices fell about 6.5% a year while rent rose about 1.5% a year. That is an unusual pattern worth watching.
Median rent in Macon County rose about 8.2% between 2015 and 2023, from $730 to $790. Over the same span, rent in North Carolina rose about 45.9%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Macon County.
Buying the median-priced home in Macon County costs roughly 12.3 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 Macon County. The price-to-rent ratio in North Carolina is about 19.1.
| Metric | Macon County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $116,348 | $265,624 | $242,182 |
| Median Household Income | $54,570 | $69,937 | $78,145 |
| Price-to-Income Ratio | 2.1 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Macon County fell about 47.7%, while median household income rose about 42.0% between 2009 and 2023 — 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 | Macon County | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.0% | 57.7% | 58.2% |
| Rental Rate | 15.8% | 29.2% | 31.3% |
| Vacancy Rate | 33.2% | 13.0% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Macon County has a homeownership rate of 51.0%, lower than the North Carolina average of 57.7%. Its housing vacancy rate is 33.2%, compared with 13.0% in North Carolina.
Housing Stock
| Metric | Macon County | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.06 people | 2.46 people | 2.54 people |
| Median Structure Built Year | 1988 | 1988 | 1978 |
| Median Number of Rooms | 5.2 | 5.6 | 5.5 |
The typical housing unit in Macon County was built around 1988. On average, 2.1 people live in a home with about 5.2 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Macon County, North Carolina.
What is the median home price in Macon County, North Carolina?
The median home price in Macon County, North Carolina is $116,348, lower than the North Carolina average of $265,624.
What is the average home price in Macon 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 Macon County, North Carolina?
The median gross rent in Macon County, North Carolina is $790 per month, lower than the North Carolina average of $1,162.
What was the median gross rent in Macon County in 2020?
In 2020, the median gross rent in Macon County, North Carolina was $758 per month.
What is the price-to-rent ratio in Macon County, North Carolina?
The price-to-rent ratio in Macon County, North Carolina is about 12.3, meaning it would take roughly 12.3 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 Macon County.
Are home prices or rent rising faster in Macon County, North Carolina?
Home prices and rent are moving in opposite directions in Macon County: home prices fell about 6.5% a year while rent rose about 1.5% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Macon County, North Carolina?
51.0% of households in Macon County, North Carolina own their home, lower than the North Carolina average of 57.7%.
What is the vacancy rate in Macon County, North Carolina?
The housing vacancy rate in Macon County, North Carolina is 33.2%, higher than the North Carolina average of 13.0%.