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 | Stanly County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $270,506 | $265,624 | $242,182 |
| Price Trend (Annual %) | 20.5% | 9.9% | 8.2% |
| Median Gross Rent | $829 | $1,162 | $1,342 |
| Rent Trend (Annual %) | 3.0% | 5.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Stanly County is about 2% higher than in North Carolina. Rent is about 29% lower than the North Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Stanly County, up about 20.5% and 3.0% a year respectively. Home prices are changing faster.
Median rent in Stanly County rose about 26.9% between 2015 and 2023, from $653 to $829. Over the same span, rent in North Carolina rose about 45.9%.
Affordability
On average, housing unit costs 4.4 yearly household incomes in Stanly County.
Buying the median-priced home in Stanly County costs roughly 27.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Stanly County. The price-to-rent ratio in North Carolina is about 19.1.
| Metric | Stanly County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $270,506 | $265,624 | $242,182 |
| Median Household Income | $61,997 | $69,937 | $78,145 |
| Price-to-Income Ratio | 4.4 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Stanly County rose about 260.4%, while median household income rose about 42.8% between 2009 and 2023 — 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 | Stanly County | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.6% | 57.7% | 58.2% |
| Rental Rate | 22.8% | 29.2% | 31.3% |
| Vacancy Rate | 13.6% | 13.0% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Stanly County has a homeownership rate of 63.6%, higher than the North Carolina average of 57.7%. Its housing vacancy rate is 13.6%, compared with 13.0% in North Carolina.
Housing Stock
| Metric | Stanly County | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.52 people | 2.46 people | 2.54 people |
| Median Structure Built Year | 1978 | 1988 | 1978 |
| Median Number of Rooms | 5.5 | 5.6 | 5.5 |
The typical housing unit in Stanly County was built around 1978. On average, 2.5 people live in a home with about 5.5 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Stanly County, North Carolina.
What is the median home price in Stanly County, North Carolina?
The median home price in Stanly County, North Carolina is $270,506, higher than the North Carolina average of $265,624.
What is the average home price in Stanly 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 Stanly County, North Carolina?
The median gross rent in Stanly County, North Carolina is $829 per month, lower than the North Carolina average of $1,162.
What was the median gross rent in Stanly County in 2020?
In 2020, the median gross rent in Stanly County, North Carolina was $753 per month.
What is the price-to-rent ratio in Stanly County, North Carolina?
The price-to-rent ratio in Stanly County, North Carolina is about 27.2, meaning it would take roughly 27.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Stanly County.
Are home prices or rent rising faster in Stanly County, North Carolina?
Both home prices and rent are rising in Stanly County, up about 20.5% and 3.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Stanly County, North Carolina?
63.6% of households in Stanly County, North Carolina own their home, higher than the North Carolina average of 57.7%.
What is the vacancy rate in Stanly County, North Carolina?
The housing vacancy rate in Stanly County, North Carolina is 13.6%, higher than the North Carolina average of 13.0%.