Cherryville, NC—28021
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cherryville, NC
As of Oct '25, the median home price in Cherryville, NC is $240,000, with a year-over-year change of 1.2%. This indicates that home prices in Cherryville, NC are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $240,000 | 1.2% |
| Single Family | $240,000 | 1.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $159,000 | 0.6% |
3 Bed | $264,000 | 2.7% |
4 Bed | $375,000 | 4.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Cherryville, NC
As of July '25, Rentcast reports the average rent in Cherryville, NC is $1,410, with a year-over-year rent change of -4.7%. Per bedroom, the median rent as of July '25 in Cherryville, NC is studios: $600, 1-bedrooms: $850, 2-bedrooms: $1,130, 3-bedrooms: $1,670. The most common rental property sizes in Cherryville, NC are 2-bedroom and 3-bedroom, accounting for 50.6% and 36.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,450 | $1,410 |
| Studio Rent | $600 | $600 |
| 1 Bed Rent | $850 | $850 |
| 2 Bed Rent | $1,200 | $1,130 |
| 3 Bed Rent | $1,550 | $1,670 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Cherryville, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Cherryville, NC is 84. This is a increase of 36.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $285,000 | -7.0% |
Listing Count | 74 | 79.0% |
| Listings as % of Homes | 0.8% | 79.0% |
Days on Market | 84 | 36.0% |
Demographics — Cherryville, NC
As of the latest ACS Survey released in 2023, Cherryville, NC has a population of 13,700, which has decreased by -2.3% over the past 5 years. Cherryville, NC is a moderately popular place for families, as children make up 21.3% of the population. The area has a poorly educated workforce, with 22.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,700 | -2.3% |
% Under 18 | 21.3% | -6.2% |
% Seniors | 20.1% | 7.5% |
% WFH | 5.8% | 141.7% |
% w/ College Degree | 22.0% | 21.5% |
As of the latest ACS Survey released in 2023, Cherryville, NC is a predominantly white area, with 89.6% of the population identifying as white. The white population has grown by 3.6% in the last 5 years. The second most common race or ethnicity in Cherryville, NC is hispanic, making up 4.4% of the population. Foreign-born residents account for 1.1% of the population in Cherryville, NC, and this percentage has decreased by 60.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 89.6% | 3.6% |
% Black | 3.7% | -53.8% |
% Hispanic | 4.4% | 46.7% |
% Asian | 0.1% | -92.3% |
% Foreign Born | 1.1% | -60.7% |
Mortgage and Risk — Cherryville, NC
According to HUD data as of 2023, there were 392 mortgage originations in Cherryville, NC, of which 67.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Cherryville, NC. Investor activity is low, as 1.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 392 |
% Conventional Loans | 67.0% |
% Government Loans | 33.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Cherryville, NC
Cherryville, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 65 |
Total Units Section 8 | 65 |
% Rentals under Section 8 | 4.3% |
% Occupied Section 8 | 89.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $130 | $850 | $980 |
| 2 Bedroom | -$90 | $1,200 | $1,110 |
| 3 Bedroom | -$120 | $1,550 | $1,430 |
| 4 Bedroom | N/A | N/A | $1,720 |
Affordability — Cherryville, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $240,000 |
| Median Household Income | $57,700 |