Matthews, North Carolina Housing Market Prices
Matthews 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 38% above the North Carolina median$385,162
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Median rent 42% above the North Carolina median$1,740
Housing Market Overview
| Metric | Matthews | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $385,162 | $278,288 | $248,835 |
| Price Trend (Annual %) | 5.9% | 9.3% | 7.5% |
| Median Gross Rent | $1,740 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 7.5% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Matthews is about 38% higher than in North Carolina. Rent is about 42% 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 Matthews, up about 5.9% and 7.5% a year respectively. Rent is changing faster.
Median rent in Matthews rose about 84.6% between 2015 and 2024, from $943 to $1,740. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 3.6 yearly household incomes in Matthews.
Buying the median-priced home in Matthews costs roughly 18.4 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 Matthews. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Matthews | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $385,162 | $278,288 | $248,835 |
| Median Household Income | $108,216 | $72,438 | $80,455 |
| Price-to-Income Ratio | 3.6 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Matthews rose about 26.2%, while median household income rose about 51.4% 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 | Matthews | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.6% | 58.3% | 58.5% |
| Rental Rate | 35.4% | 29.2% | 31.2% |
| Vacancy Rate | 5.0% | 12.5% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Matthews has a homeownership rate of 59.6%, higher than the North Carolina average of 58.3%. Its housing vacancy rate is 5.0%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Matthews | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.56 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1994 | 1989 | 1978 |
| Median Number of Rooms | 6.1 | 5.6 | 5.5 |
The typical housing unit in Matthews was built around 1994. On average, 2.6 people live in a home with about 6.1 rooms, staying for about 13.0 years on average.
Matthews, NC Housing Compared With Nearby Cities
How Matthews, NC compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Matthews, NC | 32,912 | $385,162 #1/2 | $1,740 #1/2 | 62.7% #2/2 |
| Mint Hill, NC | 25,060 | $352,520 | $1,507 | 83.7% |
Frequently Asked Questions
Common questions about the housing market in Matthews, North Carolina.
What is the median home price in Matthews, North Carolina?
The median home price in Matthews, North Carolina is $385,162, higher than the North Carolina average of $278,288.
What is the average home price in Matthews, North Carolina?
The typical home price in Matthews, North Carolina, reported as the median sale price, is $385,162. 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 Matthews, North Carolina?
The median gross rent in Matthews, North Carolina is $1,740 per month, higher than the North Carolina average of $1,227.
What was the median gross rent in Matthews in 2020?
In 2020, the median gross rent in Matthews, North Carolina was $1,307 per month.
What is the price-to-rent ratio in Matthews, North Carolina?
The price-to-rent ratio in Matthews, North Carolina is about 18.4, meaning it would take roughly 18.4 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 Matthews.
Are home prices or rent rising faster in Matthews, North Carolina?
Both home prices and rent are rising in Matthews, up about 5.9% and 7.5% a year respectively. Rent is changing faster.
What is the homeownership rate in Matthews, North Carolina?
59.6% of households in Matthews, North Carolina own their home, higher than the North Carolina average of 58.3%.
What is the vacancy rate in Matthews, North Carolina?
The housing vacancy rate in Matthews, North Carolina is 5.0%, lower than the North Carolina average of 12.5%.
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