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 | Warren County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $89,203 | $265,624 | $242,182 |
| Price Trend (Annual %) | 5.4% | 9.9% | 8.2% |
| Median Gross Rent | $771 | $1,162 | $1,342 |
| Rent Trend (Annual %) | 3.2% | 5.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Warren County is about 66% 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 Warren County, up about 5.4% and 3.2% a year respectively. Home prices are changing faster.
Median rent in Warren County rose about 21.8% between 2015 and 2023, from $633 to $771. Over the same span, rent in North Carolina rose about 45.9%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Warren County.
Buying the median-priced home in Warren County costs roughly 9.6 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 Warren County. The price-to-rent ratio in North Carolina is about 19.1.
| Metric | Warren County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $89,203 | $265,624 | $242,182 |
| Median Household Income | $45,274 | $69,937 | $78,145 |
| Price-to-Income Ratio | 2.0 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Warren County fell about 30.7%, while median household income rose about 58.6% 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 | Warren County | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.9% | 57.7% | 58.2% |
| Rental Rate | 20.8% | 29.2% | 31.3% |
| Vacancy Rate | 31.3% | 13.0% | 10.6% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Warren County has a homeownership rate of 47.9%, lower than the North Carolina average of 57.7%. Its housing vacancy rate is 31.3%, compared with 13.0% in North Carolina.
Housing Stock
| Metric | Warren County | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.26 people | 2.46 people | 2.54 people |
| Median Structure Built Year | 1987 | 1988 | 1978 |
| Median Number of Rooms | 5.5 | 5.6 | 5.5 |
The typical housing unit in Warren County was built around 1987. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Warren County, North Carolina.
What is the median home price in Warren County, North Carolina?
The median home price in Warren County, North Carolina is $89,203, lower than the North Carolina average of $265,624.
What is the average home price in Warren 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 Warren County, North Carolina?
The median gross rent in Warren County, North Carolina is $771 per month, lower than the North Carolina average of $1,162.
What was the median gross rent in Warren County in 2020?
In 2020, the median gross rent in Warren County, North Carolina was $633 per month.
What is the price-to-rent ratio in Warren County, North Carolina?
The price-to-rent ratio in Warren County, North Carolina is about 9.6, meaning it would take roughly 9.6 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 Warren County.
Are home prices or rent rising faster in Warren County, North Carolina?
Both home prices and rent are rising in Warren County, up about 5.4% and 3.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Warren County, North Carolina?
47.9% of households in Warren County, North Carolina own their home, lower than the North Carolina average of 57.7%.
What is the vacancy rate in Warren County, North Carolina?
The housing vacancy rate in Warren County, North Carolina is 31.3%, higher than the North Carolina average of 13.0%.