Richmond County, North Carolina Housing Market Prices
Richmond County 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 43% below the North Carolina median$157,265
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Median rent 41% below the North Carolina median Cheaper than 95% of counties in North Carolina$723
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Richmond County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $157,265 | $278,288 | $248,835 |
| Price Trend (Annual %) | 12.0% | 9.3% | 7.5% |
| Median Gross Rent | $723 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 2.3% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Richmond County is about 43% lower than in North Carolina. Rent is about 41% 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 Richmond County, up about 12.0% and 2.3% a year respectively. Home prices are changing faster.
Median rent in Richmond County rose about 20.8% between 2015 and 2024, from $599 to $723. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Richmond County.
Buying the median-priced home in Richmond County 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 Richmond County. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Richmond County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $157,265 | $278,288 | $248,835 |
| Median Household Income | $44,874 | $72,438 | $80,455 |
| Price-to-Income Ratio | 3.5 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Richmond County rose about 146.0%, while median household income rose about 44.8% 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 | Richmond County | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.4% | 58.3% | 58.5% |
| Rental Rate | 29.1% | 29.2% | 31.2% |
| Vacancy Rate | 14.4% | 12.5% | 10.2% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Richmond County has a homeownership rate of 56.4%, lower than the North Carolina average of 58.3%. Its housing vacancy rate is 14.4%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Richmond County | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.43 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1978 | 1989 | 1978 |
| Median Number of Rooms | 5.4 | 5.6 | 5.5 |
The typical housing unit in Richmond County was built around 1978. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 18.0 years on average.
Richmond County, NC Housing Compared With Nearby Counties
Richmond County, NC is the 2nd largest of the 5 counties compared here, 42,335 residents against a local median of 25,984. Nothing separates Richmond County, NC sharply from the counties around it. Each measure below lands within 15% of the local median, close enough that the differences are within what survey sampling alone would produce.
The largest of those small differences is median rent, 8% below the local median at $723 against $790. Richmond County, NC has the 4th highest median rent of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Richmond County, NC | 42,335 | $157,265 #3/5 | $723 #4/5 | 65.9% #4/5 |
| Anson County, NC | 22,289 | $122,368 | $814 | 68.5% |
| Montgomery County, NC | 26,004 | $172,580 | $766 | 75.0% |
| Moore County, NC | 104,876 | $265,450 | $1,254 | 76.4% |
| Marlboro County, SC | 25,963 | $96,855 | $688 | 63.0% |
Frequently Asked Questions
Common questions about the housing market in Richmond County, North Carolina.
What is the median home price in Richmond County, North Carolina?
The median home price in Richmond County, North Carolina is $157,265, lower than the North Carolina average of $278,288.
What is the average home price in Richmond County, North Carolina?
The typical home price in Richmond County, North Carolina, reported as the median sale price, is $157,265. 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 Richmond County, North Carolina?
The median gross rent in Richmond County, North Carolina is $723 per month, lower than the North Carolina average of $1,227.
What was the median gross rent in Richmond County in 2020?
In 2020, the median gross rent in Richmond County, North Carolina was $662 per month.
What is the price-to-rent ratio in Richmond County, North Carolina?
The price-to-rent ratio in Richmond County, 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 Richmond County.
Are home prices or rent rising faster in Richmond County, North Carolina?
Both home prices and rent are rising in Richmond County, up about 12.0% and 2.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Richmond County, North Carolina?
56.4% of households in Richmond County, North Carolina own their home, lower than the North Carolina average of 58.3%.
What is the vacancy rate in Richmond County, North Carolina?
The housing vacancy rate in Richmond County, North Carolina is 14.4%, higher than the North Carolina average of 12.5%.
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