North Carolina counties ranked by cap rate
| # | Market | Cap rate | Median price | Median rent | Cash flow | Analyze |
|---|---|---|---|---|---|---|
| 1 | Halifax County, NC | 7.5% | $116,316 | $1,125 | $87 | Run numbers |
| 2 | Wayne County, NC | 6.6% | $179,054 | $1,519 | -$5 | Run numbers |
| 3 | Robeson County, NC | 6.6% | $136,515 | $1,149 | -$9 | Run numbers |
| 4 | Lenoir County, NC | 6.3% | $150,169 | $1,214 | -$43 | Run numbers |
| 5 | Edgecombe County, NC | 5.6% | $136,679 | $979 | -$121 | Run numbers |
| 6 | Wilson County, NC | 5.4% | $216,195 | $1,497 | -$225 | Run numbers |
| 7 | Harnett County, NC | 5.0% | $292,371 | $1,887 | -$393 | Run numbers |
| 8 | Wilkes County, NC | 4.9% | $225,067 | $1,413 | -$329 | Run numbers |
| 9 | Hoke County, NC | 4.8% | $281,415 | $1,726 | -$437 | Run numbers |
| 10 | Cumberland County, NC | 4.7% | $227,993 | $1,382 | -$365 | Run numbers |
| 11 | Pitt County, NC | 4.7% | $243,595 | $1,465 | -$397 | Run numbers |
| 12 | Granville County, NC | 4.7% | $315,433 | $1,880 | -$525 | Run numbers |
| 13 | Nash County, NC | 4.6% | $234,011 | $1,391 | -$392 | Run numbers |
| 14 | Craven County, NC | 4.5% | $275,008 | $1,589 | -$491 | Run numbers |
| 15 | Davie County, NC | 4.5% | $325,287 | $1,881 | -$579 | Run numbers |
| 16 | Caldwell County, NC | 4.5% | $233,547 | $1,340 | -$423 | Run numbers |
| 17 | Lee County, NC | 4.5% | $287,872 | $1,649 | -$523 | Run numbers |
| 18 | Rutherford County, NC | 4.5% | $214,563 | $1,227 | -$391 | Run numbers |
| 19 | Rockingham County, NC | 4.4% | $196,825 | $1,111 | -$368 | Run numbers |
| 20 | Catawba County, NC | 4.4% | $291,519 | $1,638 | -$550 | Run numbers |
| 21 | Beaufort County, NC | 4.4% | $235,091 | $1,314 | -$448 | Run numbers |
| 22 | McDowell County, NC | 4.3% | $256,108 | $1,425 | -$492 | Run numbers |
| 23 | Gaston County, NC | 4.3% | $295,114 | $1,633 | -$573 | Run numbers |
| 24 | Cleveland County, NC | 4.3% | $210,523 | $1,165 | -$409 | Run numbers |
| 25 | Pasquotank County, NC | 4.3% | $264,204 | $1,457 | -$517 | Run numbers |
| 26 | Vance County, NC | 4.3% | $182,040 | $996 | -$361 | Run numbers |
| 27 | Forsyth County, NC | 4.3% | $281,187 | $1,533 | -$561 | Run numbers |
| 28 | Onslow County, NC | 4.2% | $290,604 | $1,577 | -$585 | Run numbers |
| 29 | Burke County, NC | 4.2% | $253,278 | $1,375 | -$509 | Run numbers |
| 30 | Davidson County, NC | 4.2% | $273,458 | $1,471 | -$558 | Run numbers |
| 31 | Stokes County, NC | 4.2% | $259,278 | $1,395 | -$529 | Run numbers |
| 32 | Guilford County, NC | 4.1% | $274,335 | $1,429 | -$591 | Run numbers |
| 33 | Rowan County, NC | 4.0% | $275,856 | $1,434 | -$596 | Run numbers |
| 34 | Johnston County, NC | 4.0% | $339,986 | $1,754 | -$743 | Run numbers |
| 35 | Franklin County, NC | 4.0% | $355,924 | $1,820 | -$788 | Run numbers |
| 36 | Surry County, NC | 3.9% | $241,900 | $1,223 | -$545 | Run numbers |
| 37 | Warren County, NC | 3.9% | $230,120 | $1,145 | -$530 | Run numbers |
| 38 | Cabarrus County, NC | 3.7% | $380,437 | $1,794 | -$941 | Run numbers |
| 39 | Union County, NC | 3.6% | $444,831 | $2,075 | -$1,115 | Run numbers |
| 40 | Haywood County, NC | 3.6% | $338,535 | $1,568 | -$856 | Run numbers |
| 41 | Alamance County, NC | 3.6% | $290,921 | $1,339 | -$741 | Run numbers |
| 42 | Moore County, NC | 3.5% | $410,202 | $1,861 | -$1,063 | Run numbers |
| 43 | Stanly County, NC | 3.5% | $302,546 | $1,374 | -$783 | Run numbers |
| 44 | Pender County, NC | 3.5% | $435,927 | $1,973 | -$1,132 | Run numbers |
| 45 | Iredell County, NC | 3.5% | $383,806 | $1,733 | -$999 | Run numbers |
| 46 | Currituck County, NC | 3.5% | $550,864 | $2,451 | -$1,458 | Run numbers |
| 47 | Transylvania County, NC | 3.4% | $466,658 | $2,053 | -$1,251 | Run numbers |
| 48 | Brunswick County, NC | 3.4% | $404,357 | $1,765 | -$1,092 | Run numbers |
| 49 | Watauga County, NC | 3.4% | $507,749 | $2,198 | -$1,384 | Run numbers |
| 50 | Henderson County, NC | 3.4% | $422,515 | $1,823 | -$1,155 | Run numbers |
Showing the top 50 of 64 ranked counties.
Looking for every county in the state, including those without rent data? Browse the full North Carolina market directory.
How this ranking is calculated
We scored 64 counties in North Carolina and ranked them by capitalization rate, calculated as annual net operating income divided by median home price. Markets without both a median home price and a median rent are excluded, because cash flow cannot be estimated without both.
Every figure assumes a median-priced home rented at the local median rent, financed with 20 percent down on a 30-year loan at 7.40%, with closing costs at 3 percent of price and operating costs at 35 percent of rent. Operating costs cover taxes, insurance, maintenance, vacancy, and management.
These are modeled estimates for comparing markets, not quotes on a specific property. A real deal turns on the individual property, its condition, and the actual rent it can command. Run any market that interests you through the calculator with real numbers before you make an offer.
National rankings
Compare North Carolina against the rest of the country.
Best Cash Flow Markets for Rental Property
US counties ranked by estimated monthly cash flow on a median-priced rental, after mortgage and operating costs.
Highest Cap Rate Markets for Rental Property
US counties ranked by estimated cap rate on a median-priced rental, using local median rent and a 35 percent operating cost assumption.
Best Rental Markets Under $200,000
US counties with a median home price under $200,000, ranked by estimated cap rate on a median-priced rental.
Cheapest Markets With Positive Cash Flow
The lowest-priced US counties where a median-priced rental still covers its mortgage and operating costs.
Best Appreciation Markets for Real Estate Investors
US counties ranked by appreciation score, blending recent home price growth with the risk of an overheated market.
Best Overall Real Estate Markets to Invest In
US counties ranked by overall investment score, blending cash flow, appreciation, stability, and affordability.
Other states
States with fewer than 5 counties reporting both price and rent are omitted, because a ranking that short would not be meaningful.