2024 Housing Gap Overview
North Carolina is facing a growing housing crisis. Currently, only 9 counties in the state have a median list price under $200,000, making homeownership increasingly out of reach for many of our fellow North Carolinians. At the same time, the rental market continues to tighten, leaving limited options for those seeking places to live.
Addressing these challenges isn’t just about providing shelter — it’s about driving economic growth. Closing the gaps in both rental and for-sale housing could generate a staggering $489 billion in economic activity and create 2.2 million jobs across our great state. By expanding access to housing, we can strengthen our communities, boost local economies, and create a brighter future for all North Carolinians.
In 2024, a statewide Housing Supply Gap Analysis was completed by Bowen National Research on behalf of NC REALTORS®, NC Chamber Foundation, and NC Home Builders Association. The following provides a brief summary of key data from the study.
Housing Availability is a Notable Issue in Brunswick County
Brunswick County has a limited inventory of available housing. Multifamily rentals are operating at an overall vacancy rate of 1.0%, while for-sale housing has an availability rate of 1.8%. The lack of available housing is evidence of the county's housing needs and contributes to the demand for residential development.
Typically, in healthy and well-balanced markets, multifamily rentals operate with a vacancy rate between 4% and 6%. Brunswick County has an overall vacancy rate of 1.0% and a median gross rent of $1,267.
Healthy for-sale housing markets typically have an availability rate between 2% and 3%. Brunswick County has 1,091 available for-sale homes, which equates to an availability rate of 1.8% at a median sales price of $479,900.
A Substantial Overall Housing Gap Exists in Brunswick County
Of the county’s overall housing gap of 15,414 units, 3,545 are rental units and 11,869 are for sale units. These gap estimates translate to gap ratios of 23.2% and 17.2% (gap ratios are the number of units needed compared to the number of existing households for each tenure type). Among North Carolina’s 100 counties, Brunswick County has the 11th highest rental gap ratio, the 8th highest owner gap ratio, and the 11th highest overall gap ratio.