Housing Affordability
Housing
Home values and rents in Cabarrus County have outpaced income growth since 2006, compressing affordability even as the county’s population surge continues to attract new residents.
Housing Affordability
Between 2006 and 2023, the median home value in Cabarrus County rose to an index of 258 (base year 2006 = 100) while household income reached only 173 over the same period. Home prices have outpaced income growth by 85 index points, compressing the affordability margin that historically made Cabarrus County an attractive alternative to Mecklenburg. By 2023 the price-to-income ratio had reached 4.4, above the 3.0 threshold that housing economists traditionally mark as the boundary of affordability. Rents have followed a similar trajectory, tightening the housing market for owners and renters alike as population growth continues to drive demand.