Cost of Living in Granville County, North Carolina
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Granville County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Granville County ranks #2,578 of 3,144 counties for affordability (bottom 18%)
Data Story
About Cost of Living in Granville County, North Carolina
Granville balances strong income and rent
Granville residents spend 17.0% of their $70,975 median income on $1,008 rent—well below the national average and among the best rates nationally. The county's above-average income and below-average rent ratio create genuine affordability for working families.
Above-average incomes, below-average burden
Granville's rent-to-income ratio of 17.0% beats North Carolina's state average of 18.6%, and its median income of $70,975 ranks well above state norms. The county ranks in the top tier of North Carolina affordability, competing with Franklin for best value.
Second only to Franklin in affordability
Granville's $1,008 rent and 17.0% ratio come close to Franklin's superior 16.6% ratio, while offering higher rent than Franklin's $988. Granville edges Forsyth (19.1%) and Gaston (19.9%) meaningfully, offering better affordability for comparable urban amenities.
Renters and owners share similar costs
Renters pay $1,008 monthly while homeowners pay $1,103 on incomes averaging $70,975, with renters enjoying slightly better affordability. Annual housing costs for renters total $12,100, a reasonable burden on this income level.
Excellent choice near Raleigh-Durham area
Granville offers the Raleigh-Durham region's best rent-to-income balance, combining strong incomes with controlled housing costs just north of the metro. Residents enjoy rural character with access to urban job markets—Franklin remains slightly more affordable, but Granville rivals it with more housing options.
Cost of Living Advisory: Granville County
Affordability Verdict
Housing in Granville County is affordable. The median rent is $1,008/month against a median household income of $70,975, putting rent at 17.0% of income.
Rent vs. Own
The median rent in Granville County is $1,008/month, while owner costs run $1,103/month. Renting saves approximately $95/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $40,320/year. For owner costs at the 28% rule, the required income is roughly $47,271/year. With a median household income of $70,975, most households can comfortably afford rent here. Notably, 28.0% of renter households in Granville County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Granville County sits 5% less expensive than Perquimans County ($1,061/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Granville County
Rent Burden
17.0%
of gross income
Max Housing (28% Rule)
$1,656
per month
Owner Cost Burden
18.6%
of gross income
The median home in Granville County may be a stretch
Median home value is $235,700. Estimated monthly cost: $1,882 vs. your max of $1,656.
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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