Mitchell County, North Carolina Housing Market
In Mitchell County, North Carolina, the median home value is $220,100, with a median monthly rent of $813. This places Mitchell County at #1183 nationally out of 3134 counties by median home value, and #50 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: $981
- Establishments: 385
- BLS QCEW, 2025
Housing Supply
- Single-family: 44
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 5,679 (avg $58,448)
- Outflow: 5,279 (avg $58,073)
- IRS Statistics of Income
How Mitchell County Compares
| Metric | Mitchell County | North Carolina Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $220,100 | $235,312 | $227,706 |
| Median Gross Rent | $813 | $976 | $968 |
| Owner Occupancy Rate | 76.3% | 71.8% | 73.3% |
| Price/Rent Ratio | 22.6 | 19.8 | 18.7 |
Market Analysis
The median home value in Mitchell County is 6.5% below the North Carolina state average and 3.3% below the U.S. national average. The median rent of $813/month is 16.7% below the state average.
With a price-to-rent ratio of 22.6, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Mitchell County has an owner-occupancy rate of 76.3%, compared to 71.8% in North Carolina and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| White Pine County | Nevada | $220,000 | $937 |
| Ottawa County | Ohio | $219,900 | $930 |
| Houston County | Georgia | $219,800 | $1,208 |
| Madison County | Georgia | $219,700 | $972 |
| Otsego County | Michigan | $219,700 | $1,008 |
Other Counties in North Carolina
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Hoke County | $219,300 | $1,089 | 73.0% |
| Davidson County | $219,100 | $901 | 74.4% |
| Pamlico County | $216,800 | $752 | 82.9% |
| Alleghany County | $214,800 | $675 | 74.4% |
| Person County | $213,900 | $864 | 77.3% |
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).