Kannapolis, NC—28083
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Kannapolis, NC
Home Price Trends — Kannapolis, NC
As of Oct '25, the median home price in Kannapolis, NC is $261,000, with a year-over-year change of -1.3%. This indicates that home prices in Kannapolis, NC are decreasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $261,000 | -1.3% |
| Single Family | $261,000 | -1.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $153,000 | -0.6% |
2 Bed | $197,000 | -3.0% |
3 Bed | $282,000 | -0.7% |
4 Bed | $338,000 | -0.6% |
| 5 Bed | $377,000 | -1.8% |
% of Housing Stock
Rental Trends — Kannapolis, NC
As of July '25, Rentcast reports the average rent in Kannapolis, NC is $1,600, with a year-over-year rent change of -1.2%. Per bedroom, the median rent as of July '25 in Kannapolis, NC is studios: $1,120, 1-bedrooms: $1,060, 2-bedrooms: $1,260, 3-bedrooms: $1,760, 4-bedrooms: $1,950. The most common rental property sizes in Kannapolis, NC are 2-bedroom and 3-bedroom, accounting for 41.5% and 29.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,640 | $1,600 |
| Studio Rent | $1,120 | $1,120 |
| 1 Bed Rent | $1,050 | $1,060 |
| 2 Bed Rent | $1,240 | $1,260 |
| 3 Bed Rent | $1,740 | $1,760 |
| 4 Bed Rent | $1,940 | $1,950 |
% of Rental Stock
Property Listings — Kannapolis, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Kannapolis, NC is 66. This is a increase of 19.0% 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 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $317,000 | 5.0% |
Listing Count | 130 | 7.0% |
| Listings as % of Homes | 0.7% | 7.0% |
Days on Market | 66 | 19.0% |
Demographics — Kannapolis, NC
As of the latest ACS Survey released in 2023, Kannapolis, NC has a population of 28,500, which has increased by 11.5% over the past 5 years. Kannapolis, NC is a moderately popular place for families, as children make up 22.7% of the population. The area has a poorly educated workforce, with 18.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,500 | 11.5% |
% Under 18 | 22.7% | -12.0% |
% Seniors | 15.9% | 3.2% |
% WFH | 9.5% | 216.7% |
% w/ College Degree | 18.7% | 28.1% |
As of the latest ACS Survey released in 2023, Kannapolis, NC is a predominantly white area, with 54.6% of the population identifying as white. The white population has shrunk by 4.7% in the last 5 years. The second most common race or ethnicity in Kannapolis, NC is black, making up 26.3% of the population. Foreign-born residents account for 8.0% of the population in Kannapolis, NC, and this percentage has increased by 9.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 54.6% | -4.7% |
% Black | 26.3% | 4.4% |
% Hispanic | 16.2% | 14.1% |
% Asian | 1.1% | -8.3% |
% Foreign Born | 8.0% | 9.6% |
Mortgage and Risk — Kannapolis, NC
According to HUD data as of 2023, there were 605 mortgage originations in Kannapolis, NC, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Kannapolis, NC. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 605 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Kannapolis, NC
As of 2024, the percent of homes in Kannapolis, NC under the Section 8 program is 7.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Kannapolis, NC, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 278 |
Total Units Section 8 | 278 |
% Rentals under Section 8 | 7.5% |
% Occupied Section 8 | 87.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $240 | $1,050 | $1,290 |
| 2 Bedroom | $220 | $1,240 | $1,460 |
| 3 Bedroom | $90 | $1,740 | $1,830 |
| 4 Bedroom | $390 | $1,940 | $2,330 |
Affordability — Kannapolis, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $261,000 |
| Median Household Income | $60,600 |