Market Overview
Home Prices in Penrose, NC
The median home value in Penrose, NC is $416,081 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 1.1% compared to a year ago and up 3.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Penrose are priced1% above average. Penrose is part of the Brevard, NC metro area.
Over the past five years, Penrose home values have risen by approximately41.7%, reflecting strong long-term appreciation in this market.
Price History
Penrose Home Price Trend
City Comparison
Penrose vs. National Median
At $416,081, homes in Penrose cost 1% above the national median of $410,000. Buyers in Penrose should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Penrose?
20% Down Payment
$83,216
on $416,081
Monthly P&I
$2,170/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,756/mo
incl. taxes & insurance
Income Needed
$110,240
gross annual (30% rule)
10% Down Option
$41,608
+ PMI applies
Loan Amount (20% dn)
$332,865
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Penrose, NC?
The median home value in Penrose is $416,081 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 1.1% year-over-year.
How much have home prices changed in Penrose?
Over the past year, home values in Penrose have decreased by 1.1%. Over five years, prices have risen approximately 41.7%.
How much do I need to earn to buy a home in Penrose?
To comfortably afford the median home price of $416,081 with a 20% down payment ($83,216) at today's rates (6.8%), you'd need a gross annual income of approximately $110,240. This assumes keeping total housing costs at or below 30% of gross income.
How does Penrose compare to the national average home price?
The national median home value is approximately $410,000. At $416,081, homes in Penrose are 1% above the national average.
What metro area is Penrose part of?
Penrose is part of the Brevard, NC metropolitan area. Home prices and market conditions can vary across the broader metro region.