North Carolina is facing a significant housing inventory gap across all income levels and geographic regions, according to a statewide report commissioned by the NC Chamber Foundation, NC REALTORS and the N.C. Homebuilders Association.
The report, which was released this week, predicts the gap will increase with projected job and population growth. Addressing the gap could generate $489 billion in economic activity and create nearly 2.2 million jobs, the report said.
Meredith Archie (Photo: NC Chamber Foundation)
“Addressing North Carolina’s significant housing supply gap is more than just meeting immediate demand; it’s a critical investment in our state’s future,” NC Chamber Foundation President Meredith Archie said in a statement. “With projected population and job growth, accessible and available housing is essential to supporting our communities, strengthening infrastructure, and creating an environment where both workers and businesses can thrive.”
The report details rental and for-sale housing supply inventory in each of the state’s 100 counties for a five-year projection period from 2024 to 2029.
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Eighty counties have projected increases in the number of households, with the largest percent increases projected to occur in Brunswick (15.3%), Johnston (12.2%), and Currituck (11.3%) counties. Wake and Mecklenburg counties are projected to have the largest numerical increases in new households, totaling 41,241 and 35,676, respectively.
Meanwhile, 20 counties have a projected decrease in the number of households, with individual declines that range from less than 0.1% (Vance County) to 3.0% (Northampton County).
The research group Bowen National Research conducted the Housing Supply Gap analysis. Mike Walden, an emeritus professor of agricultural economics at NC State and a private consultant, conducted the economic impact analysis.
Here are the report’s key findings:
The number of households in the state is projected to increase by 5% (218,160 households) between 2024 and 2029.
North Carolina faces a five-year housing inventory gap of 764,478 units (322,360 rental units and 442,118 for-sale units).
The state has an overall for-sale availability rate of 0.8%. This is well below the 2%-3% range of a “healthy” market.
Only nine counties, representing less than 10% of the state’s counties, have a median list price under $200,000, making it likely that many lower income households, including first-time homebuyers, have difficulty finding affordable homes to purchase.
The statewide vacancy rate for multifamily rental units is 5%. This is within the healthy market range of 4%-6%, but affordable rental programs show near-zero vacancies and over 41,000 households are on waitlists for affordable rental housing.
“The data and key findings of the housing study underscore not only the pressing need but also the urgency of implementing tangible solutions to bridge the housing inventory gap at all income levels across the state,” said NC REALTORS 2025 President John McPherson.
The report concludes that North Carolina is too large, has too many differences among rural, urban and suburban areas and too many regional socioeconomic variations to develop a one-size-fits-all solution for all regions.
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“However, there are many broad housing efforts that housing advocates across the state could consider when making efforts to address housing issues in the state,” the authors wrote.
The authors made these recommendations:
Educate the public, including decision-makers, on the housing characteristics, challenges and opportunities in North Carolina.
Research other communities and states on possible approaches to address housing Issues.
Encourage municipalities and counties to develop individual housing plans.
Support efforts to preserve existing housing and encourage new residential development.
Encourage local housing advocates to build organizational capacity.
Leverage data from this statewide housing study to encourage and attract residential development.
“This report demonstrates the urgency of policy changes needed for housing and the financial benefits for the community and all levels of government,” said North Carolina Home Builders Association Executive Vice President Tim Minton.
Add one more name to the list of high school recruits scheduled to visit Clemson on Saturday.
2027 three-star EDGE Xavier Perkins (C.E. Jordan, Durham, NC) will be on hand for the Tigers’ junior day.
The 6-foot-3, 240-pound recruit is fresh off a visit to Duke, with the Blue Devils already having offered. North Carolina, Ole Miss, Florida State and Virginia Tech have also offered. Clemson won’t start offering players in the 2027 class until the summer.
As a sophomore, Perkins was credited with 34 tackles, 12 tackles for loss, six sacks and 21 quarterback hurries.
Wildfires are raging through several North Carolina communities already struggling to recover from the devastation of Hurricane Helene.
POLK COUNTY, N.C. – The fight against destructive wildfires tearing through North Carolina is being significantly hampered by Hurricane Helene’s lingering devastation, officials revealed, calling the situation “an absolute travesty.”
EVACUATIONS EXPAND IN CAROLINAS AS WILDFIRES RAGE IN HURRICANE HELENE-RAVAGED AREAS
Footage posted by Greenville Water shows the scene at Table Rock Reservoir in South Carolina.
(Greenville Water)
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The powerful storm, which swept through the region in late September, left behind a trail of destruction that is now proving to be a major obstacle in containing the blazes that have consumed over 6,000 acres in the state.
As evacuation orders remain in place for several neighborhoods, the stark reality of the intertwined disasters is becoming increasingly clear, North Carolina Forest Service Supervisor Nicholas Hoffmann said.
A “Home Sweet Home” sign is seen outside a home that was destroyed by a fire on March 23, 2025, in Columbus, North Carolina.
(Allison Joyce/Getty Images)
“It is an absolute travesty that it’s happened,” he emphasized. “And the Helene damage is actually one of the biggest contributing factors to the difficulty in fighting this fire because of all the damage, the landslides, the lack of access that it has created … in addition to the steep, steep terrain and the high winds we’re having right now.”
Fire officials are now grappling with a two-layered crisis.
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A view of the Black Cove Fire burning in Polk County, North Carolina. (Polk County Local Government/Facebook)
Troutman Fire Department firefighter Sam Mills (left) and Deputy Chief of Troutman Fire Department Jimmy Kestler (right) work a backburn preventative fire to stop the spread of the Deepwoods Fire on March 23, 2025 in Columbus, North Carolina. (Allison Joyce)
Debris from Hurricane Helene litters the side of the road as smoke hangs in the air near the Black Cove wildfire on March 24, 2025 in Polk County near Saluda, North Carolina. (Sean Rayford)
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Smoke rises from a mountain ridge near storm debris and heavy machinery at the Black Cove wildfire on March 24, 2025 in Polk County near Saluda, North Carolina. (Sean Rayford/Getty Images)
A motorist navigate a flood damaged road as smoke hangs in the air near the Black Cove wildfire on March 24, 2025 in Polk County near Saluda, North Carolina (Sean Rayford)
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Debris from Hurricane Helene litters the side of the road as smoke hangs in the air near the Black Cove wildfire on March 24, 2025 in Polk County near Saluda, North Carolina. (Sean Rayford)
FOX Weather meteorologists spent weeks on the ground in North Carolina following Helene, and their reports painted a stark picture of the sheer volume of fallen trees and debris that would dry out and become potent fuel, increasing the fire risk.
FOX Weather’s Robert Ray traveled to North Carolina where residents have described apocalyptic scenes of destruction.
“You have thousands of trees that are just lying in the forest that have been drying up over the last couple of months, and it’s a tinderbox,” FOX Weather Meteorologist Britta Merwin said. “These are hard areas to access. That’s what made it so challenging with Helene and the response efforts, and they’re still trying to rebuild. Now, they have a second natural disaster pretty much on their hands.”
The destructive power of wildfires in Polk County has become evident after 11 homes were destroyed on Tuesday.
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Officials report that the Black Cove Fire, which was started by a downed power line, has burned over 3,000 acres and remains uncontained. The nearby Deep Woods Fire has also consumed nearly 3,000 acres with no containment. The smaller Fish Hook Fire is partially contained, but the situation led to the evacuation of 165 homes by Tuesday evening.
The Deep Woods Fire is seen on March 23, 2025, in Columbus, North Carolina.
(Allison Joyce/Getty Images)
By Tuesday evening, emergency management officials in Henderson County had mandated evacuations for the Summer Haven community and four other neighborhoods. An additional dozen nearby communities were also under pre-evacuation advisories.
NEW WILDFIRE NEARLY TRAPS DEPUTIES SEARCHING FOR HIKER MISSING WEEKS IN SOUTH CAROLINA WILDERNESS
Smoke from the Black Cove Fire in Polk County, North Carolina, was seen wafting skyward on Sunday. This video, shared to X by Grant Finch, captures the massive smoke cloud as seen from Peter Guice Bridge.
Simultaneously, South Carolina also issued evacuation orders Tuesday evening in Greenville and Pickens counties due to the Persimmon Ridge Fire, which is part of the larger Table Rock Fire Complex.
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The South Carolina Forestry Commission said that good progress was made in battling the blaze on Tuesday, but later, “wind gusts dramatically increased fire activity.”
The Table Rock Fire has burned over 2,200 acres, and the Persimmon Ridge Fire has charred about 1,000 acres. Both are at 0% containment.
Republican Senate Majority Leader Paul Newton announced his resignation from the North Carolina Senate, effective Wednesday evening, creating a leadership vacancy as the Senate enters a busy legislative period
Newton, 64, is stepping down to pursue an opportunity outside of state government, according to a statement from Senate Republicans.
His specific plans have not been disclosed, according to the Associated Press.
“It has been an honor of a lifetime to serve the people of Cabarrus County for nearly a decade,” Newton said in his statement.
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Senate leader Phil Berger praised Newton as a “valued voice and leader” who “provided a calm presence and wise counsel to many legislators during his time in Raleigh.”
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Newton’s departure means that Republicans in the 34th Senate District will select someone to fill his seat through the end of 2026. Additionally, Senate Republicans will need to convene to choose a new majority leader.
As majority leader, Newton played a significant role in enacting laws that extended conservative tax policies, removed the three-day grace period for mail-in absentee ballots, and set greenhouse gas reduction mandates on electric power plants operated by Duke Energy.
Newton, a former Duke Energy state president, joined the Senate in 2017 and was elected by his GOP colleagues to the majority leadership post after the 2022 elections.
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The Senate’s bill-filing deadline was Tuesday, and the Senate aims to approve a two-year state government budget proposal next month.
Newton’s resignation marks a significant change in the North Carolina Senate’s leadership as the legislative body prepares for an intense work period.
The selection of his successor will be crucial in shaping the Senate’s future direction.
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