Cost of Living in Craven County, North Carolina
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Craven County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Craven County ranks #2,707 of 3,144 counties for affordability (bottom 14%)
Data Story
About Cost of Living in Craven County, North Carolina
Craven rents slightly strain household budgets
Renters in Craven County dedicate 20.4% of their income to housing, slightly above the national average of 18%. This means a typical renter household earning $64,635 annually spends about $1,100 monthly on rent—a manageable but tight burden compared to national norms.
Middle of the pack in North Carolina
Craven's rent-to-income ratio of 20.4% ranks it above North Carolina's state average of 18.6%, indicating moderately higher housing pressure than typical for the state. At $1,100 per month, median rent exceeds the state average of $938, contributing to this less favorable position.
Pricier than inland cousins
Craven's $1,100 median rent sits between nearby Davidson County ($863) and coastal Dare County ($1,307). While more affordable than the beachside premium in Dare, Craven costs renters significantly more than the piedmont bargains found in Davidson and Duplin counties.
Split nearly evenly between rent and ownership
Renters spend $1,100 monthly while homeowners pay $976—a rare case where renters pay more than owners. With median household income at $64,635, housing absorbs roughly one-fifth of gross income for renters and about 18% for mortgage holders.
Consider Craven for coastal living on budget
If you're drawn to North Carolina's coastal communities, Craven offers more affordable rents than Dare County while maintaining similar income levels to neighboring regions. Compare Craven's $1,100 rents and $206,200 median home values against inland alternatives like Davidson or Davie for your best affordability match.
Cost of Living Advisory: Craven County
Affordability Verdict
Housing in Craven County is affordable. The median rent is $1,100/month against a median household income of $64,635, putting rent at 20.4% of income.
Rent vs. Own
At $1,100/month rent versus $976/month in owner costs, owning is roughly $124/month cheaper — a 11% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $44,000/year. For owner costs at the 28% rule, the required income is roughly $41,829/year. With a median household income of $64,635, most households can comfortably afford rent here. Notably, 28.0% of renter households in Craven County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Hoke County where rent averages $1,047/month, Craven County is approximately 5% more expensive.
Affordability Calculator
See how your income compares to housing costs in Craven County
Rent Burden
20.4%
of gross income
Max Housing (28% Rule)
$1,508
per month
Owner Cost Burden
18.1%
of gross income
The median home in Craven County may be a stretch
Median home value is $206,200. Estimated monthly cost: $1,646 vs. your max of $1,508.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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