North Carolina Election Results: Swing State Where Square-Foot Prices Are Up 54% Votes Red

North Carolina’s election results are in, with the swing state voting for Donald Trump in the 2024 presidential election, according to projections from the Associated Press decision team.

The state’s 16 Electoral College votes will go toward the Republican candidate in a closely contested race where housing policy was among the key issues debated by the campaigns.

In August, Vice President Kamala Harris campaigned in Raleigh, NC, where she touted her plan to give first-time homebuyers a $25,000 down payment subsidy.

“I know how to fight for people who are being exploited in the housing market, and I know what homeownership means. It’s more than a financial transaction,” she said at the event.

Trump also campaigned heavily in the state, highlighting inflation and higher housing costs at a September rally in Wilmington, NC.

“We will end inflation and make America affordable again,” Trump said at the event. “And we will get your energy bills cut in half within 12 months.”

For the latest election results, check the Wall Street Journal’s live election tracker.

Key stats on North Carolina’s housing market

The homeownership rate in North Carolina is 65.9% as of last year, roughly in line with the national average of 65.6%, according to U.S. Census Bureau data.

In the first nine months of 2024, the median listing price for homes in North Carolina averaged $411,052—a 32% increase from the same period in 2019, according to Realtor.com® listing data. That compares with a national median listing price of $428,860 for 2024 through September—up 38% from five years ago.

On a square-foot basis, North Carolina homes were typically listed for $218 in 2024, up 54% from 2019. Nationally, the median list price per square foot rose 52% in the same period, to $228.

The average North Carolina homeowner gained $25,000 in equity in the 12 months through June 2024, on par with the national average of $25,000, according to CoreLogic.

Among renters in North Carolina, 43% are considered rent-burdened, spending more than 30% of their income on rent. That compares with 50% of renters nationally who are considered rent-burdened.