Cleveland County, North Carolina Housing Market
In Cleveland County, North Carolina, the median home value is $200,000, with a median monthly rent of $914. This places Cleveland County at #1400 nationally out of 3134 counties by median home value, and #60 within North Carolina.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $993
- Establishments: 2,082
- BLS QCEW, 2025
Housing Supply
- Single-family: 396
- Multi-family: 159
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 38,138 (avg $58,587)
- Outflow: 36,370 (avg $58,691)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 7 active ZIP codes in Cleveland County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 28040 | 305.4 | -10.59% | 2025 |
| 2 | 28114 | 329.1 | +31.06% | 2025 |
| 3 | 28150 | 245.0 | -1.96% | 2025 |
| 4 | 28021 | 274.4 | +14.34% | 2025 |
| 5 | 28073 | 253.6 | +21.32% | 2024 |
| 6 | 28086 | 251.7 | +5.53% | 2025 |
| 7 | 28152 | 235.5 | -0.41% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
How Cleveland County Compares
| Metric | Cleveland County | North Carolina Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $200,000 | $235,312 | $227,706 |
| Median Gross Rent | $914 | $976 | $968 |
| Owner Occupancy Rate | 70.9% | 71.8% | 73.3% |
| Price/Rent Ratio | 18.2 | 19.8 | 18.7 |
Market Analysis
The median home value in Cleveland County is 15.0% below the North Carolina state average and 12.2% below the U.S. national average. The median rent of $914/month is 6.4% below the state average.
With a price-to-rent ratio of 18.2, the buy-vs-rent decision in Cleveland County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Cleveland County has an owner-occupancy rate of 70.9%, compared to 71.8% in North Carolina and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Highland County | Virginia | $200,000 | $856 |
| Gilchrist County | Florida | $199,900 | $926 |
| Daviess County | Kentucky | $199,900 | $918 |
| Onondaga County | New York | $200,200 | $1,108 |
| Ector County | Texas | $200,200 | $1,259 |
Other Counties in North Carolina
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Cumberland County | $199,200 | $1,222 | 55.0% |
| Rutherford County | $201,800 | $783 | 73.9% |
| Randolph County | $197,100 | $887 | 72.5% |
| Stokes County | $196,700 | $775 | 79.2% |
| Swain County | $207,000 | $742 | 72.7% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-13. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).