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 | Stokes County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $172,244 | $265,624 | $242,182 |
| Price Trend (Annual %) | 15.1% | 9.9% | 8.2% |
| Median Gross Rent | $765 | $1,162 | $1,342 |
| Rent Trend (Annual %) | 3.2% | 5.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Stokes County is about 35% lower than in North Carolina. Rent is about 34% 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 Stokes County, up about 15.1% and 3.2% a year respectively. Home prices are changing faster.
Median rent in Stokes County rose about 24.8% between 2015 and 2023, from $613 to $765. Over the same span, rent in North Carolina rose about 45.9%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Stokes County.
Buying the median-priced home in Stokes County costs roughly 18.8 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 Stokes County. The price-to-rent ratio in North Carolina is about 19.1.
| Metric | Stokes County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $172,244 | $265,624 | $242,182 |
| Median Household Income | $60,078 | $69,937 | $78,145 |
| Price-to-Income Ratio | 2.9 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Stokes County rose about 28.8%, while median household income rose about 50.3% 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 | Stokes County | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.1% | 57.7% | 58.2% |
| Rental Rate | 19.6% | 29.2% | 31.3% |
| Vacancy Rate | 9.3% | 13.0% | 10.6% |
| Median Tenure (years) | 20.0 | 15.0 | 15.0 |
| Median Year Moved In | 2006 | 2011 | 2011 |
Stokes County has a homeownership rate of 71.1%, higher than the North Carolina average of 57.7%. Its housing vacancy rate is 9.3%, compared with 13.0% in North Carolina.
Housing Stock
| Metric | Stokes County | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.46 people | 2.54 people |
| Median Structure Built Year | 1983 | 1988 | 1978 |
| Median Number of Rooms | 5.5 | 5.6 | 5.5 |
The typical housing unit in Stokes County was built around 1983. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Stokes County, North Carolina.
What is the median home price in Stokes County, North Carolina?
The median home price in Stokes County, North Carolina is $172,244, lower than the North Carolina average of $265,624.
What is the average home price in Stokes 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 Stokes County, North Carolina?
The median gross rent in Stokes County, North Carolina is $765 per month, lower than the North Carolina average of $1,162.
What was the median gross rent in Stokes County in 2020?
In 2020, the median gross rent in Stokes County, North Carolina was $681 per month.
What is the price-to-rent ratio in Stokes County, North Carolina?
The price-to-rent ratio in Stokes County, North Carolina is about 18.8, meaning it would take roughly 18.8 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 Stokes County.
Are home prices or rent rising faster in Stokes County, North Carolina?
Both home prices and rent are rising in Stokes County, up about 15.1% and 3.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Stokes County, North Carolina?
71.1% of households in Stokes County, North Carolina own their home, higher than the North Carolina average of 57.7%.
What is the vacancy rate in Stokes County, North Carolina?
The housing vacancy rate in Stokes County, North Carolina is 9.3%, lower than the North Carolina average of 13.0%.