Here’s Where North And South Carolina Rank Among Home Prices Nationwide
We grow up with the thought that home ownership is the goal. Or, at least that’s the way most of my generation thought. After all, it’s a nice feeling to know you have a place to call your own. However, with home ownership we all know comes great responsibility. And, it’s more than likely the biggest investment you make in your life. So, if this is the year you’re considering that purchase, here’s where North and South Carolina rank for home prices nationwide in 2024.
According to an article by World Population Review, Zillow Home Value Index measures the middle price tiers of homes. And, Zillow’s report put the cost of a typical home in the United States at just over $344,000 during 2022. Federal Reserve Economic Data estimated the median price for homes sold in that year was more than $428,000. And, of course, we’re all familiar with the crazy market we went through in the summer and fall of 2021 with crazy cash offer bidding war home sales. But, where do the North and South Carolina rank for home prices nationwide?
Well, according to the data analyzed in the article, North Carolina fares slightly better than South Carolina when it comes to the median home prices. But, both states are just a tad higher than the national average of $344,000 in the Zillow report. North Carolina median home prices sit at around $371,000. And, South Carolina median home prices are about $374,000. And, it doesn’t surprise any of us some of the most expensive homes are in Hawaii, California and New York.
So, we know a little of this first hand. Back in September of 2021 my husband and I made the tough decision to sell our home. We did it for a number of reasons, including a chance to relocate to South Carolina where my son attends college. But, I have to admit the hot market was appealing with a chance to make a little profit and pay off debts.
However, with inventory as it was we knew renting was the only option. And, that’s still ok since we don’t have some of the burdens of home ownership. But now, with interest rates high and inventory still slim, we continue to rent. It was part of the plan all along. Although, I am looking forward to the day we can maybe look to again buy a home of our own. I miss it sometimes.
Therefore, if I can possibly find one of those homes in the median range they speak of in this report, I might consider. I just haven’t seen one of those yet. Anyway, it’s an interesting report. All in all, the news is pretty positive for the Carolinas in comparison to other parts of the nation. So, browse the full study to see for yourself where North and South Carolina rank for home prices nationwide.
This North Carolina City Is Building The 2nd Most New Homes Nationwide
8. Charlotte-Concord-Gastonia, NC
Charlotte ranks number 8 on this list with 23.9 new housing units authorized per existing 1,000 homes. In 2022 the Charlotte Metro Area built 27,212 new homes. The median home price in the region is $369,590.
7. Orlando-Kissimmee-Sanford, FL
The median home price in Orlando is $388,191. In 2022 28,638 new homes were constructed. And 25.7 new housing units were authorized per 1,000 existing homes.
6. Dallas-Fort Worth-Arlington, TX
Coming in at number 6 with a whopping 77,894 new housing units authorized in 2022 is the Dallas region. There were 25.8 new units authorized per 1,000 existing homes. And the median price? $376,026.
5. Houston-The Woodlands-Sugarland, TX
Staying in Texas to crack the top 5 with the Houston Metro. A much lower median home price of just $306,423. 75,728 new housing units were approved with is 66.8 per 1,000 existing units.
4. Jacksonville, FL
Our second Florida city on this list is Jacksonville with a median home price of $355,024. There were 32.6 new housing units approved per 1,000 existing which comes to a total of 23,169.
3. Nashville- Davidson-Murfreesboro, TN
Coming in at number three is a city that’s growth has seemed to parallel Charlotte’s a lot. Nashville has one of the highest median home prices at $436,866. 28,192 new units were authorized in 2022, which is 32.8 per 1,000 existing,
2. Raleigh-Cary, NC
If it wasn’t Charlotte, well you knew it had to be our state’s capital city. The median home price in this area is surprisingly higher than Charlotte at $433,469. 36.2 new units were approved in 2022 per 1,000 existing which equated to 21,568 new units.
1. Austin-Round Rock-Georgetown, TX
And Austin Texas takes the title with 42,364 new homes approved which is 42.5 per 1,000 existing. These homes will run buyers a median price of $487,537. Is it too late to get involved in the Austin real estate market?
Small/Median Carolina Metros- Where They Ranked
Small Metros
- Wilmington, NC ranked 8th with 29.9 units per 1,000 existing
- Burlington, NC ranked 15th with 25.9 units per 1,000 existing
Median Metros
- Myrtle Beach-Conway-North Myrtle Beach,SC ranked 3rd with 39.5 units per existing
- Charleston-North Charleston, SC ranked 13th with 25.2 units per existing
- Durham-Chapel Hill ranked 15th with 22.1 units per existing
