New Bern, North Carolina Housing Market Prices
New Bern 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 79% below the North Carolina median$58,407
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Median rent 11% below the North Carolina median$1,087
Housing Market Overview
| Metric | New Bern | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $58,407 | $278,288 | $248,835 |
| Price Trend (Annual %) | -9.9% | 9.3% | 7.5% |
| Median Gross Rent | $1,087 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 3.1% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in New Bern is about 79% lower than in North Carolina. Rent is about 11% lower than the North Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in New Bern: home prices fell about 9.9% a year while rent rose about 3.1% a year. That is an unusual pattern worth watching.
Median rent in New Bern rose about 26.1% between 2015 and 2024, from $862 to $1,087. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 1.0 yearly household incomes in New Bern.
Buying the median-priced home in New Bern costs roughly 4.5 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 New Bern. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | New Bern | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $58,407 | $278,288 | $248,835 |
| Median Household Income | $59,115 | $72,438 | $80,455 |
| Price-to-Income Ratio | 1.0 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in New Bern fell about 67.2%, while median household income rose about 56.7% 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 | New Bern | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.8% | 58.3% | 58.5% |
| Rental Rate | 33.5% | 29.2% | 31.2% |
| Vacancy Rate | 12.8% | 12.5% | 10.2% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
New Bern has a homeownership rate of 53.8%, lower than the North Carolina average of 58.3%. Its housing vacancy rate is 12.8%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | New Bern | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.23 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1987 | 1989 | 1978 |
| Median Number of Rooms | 5.4 | 5.6 | 5.5 |
The typical housing unit in New Bern was built around 1987. On average, 2.2 people live in a home with about 5.4 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in New Bern, North Carolina.
What is the median home price in New Bern, North Carolina?
The median home price in New Bern, North Carolina is $58,407, lower than the North Carolina average of $278,288.
What is the average home price in New Bern, North Carolina?
The typical home price in New Bern, North Carolina, reported as the median sale price, is $58,407. 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 New Bern, North Carolina?
The median gross rent in New Bern, North Carolina is $1,087 per month, lower than the North Carolina average of $1,227.
What was the median gross rent in New Bern in 2020?
In 2020, the median gross rent in New Bern, North Carolina was $888 per month.
What is the price-to-rent ratio in New Bern, North Carolina?
The price-to-rent ratio in New Bern, North Carolina is about 4.5, meaning it would take roughly 4.5 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 New Bern.
Are home prices or rent rising faster in New Bern, North Carolina?
Home prices and rent are moving in opposite directions in New Bern: home prices fell about 9.9% a year while rent rose about 3.1% a year. That is an unusual pattern worth watching.
What is the homeownership rate in New Bern, North Carolina?
53.8% of households in New Bern, North Carolina own their home, lower than the North Carolina average of 58.3%.
What is the vacancy rate in New Bern, North Carolina?
The housing vacancy rate in New Bern, North Carolina is 12.8%, higher than the North Carolina average of 12.5%.
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