Matthews, NC—28104
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Matthews, NC
Home Price Trends — Matthews, NC
As of Oct '25, the median home price in Matthews, NC is $590,000, with a year-over-year change of 0.9%. This indicates that home prices in Matthews, NC are flat. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $590,000 | 0.9% |
| Single Family | $592,000 | 1.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $349,000 | -1.7% |
3 Bed | $402,000 | -1.0% |
4 Bed | $714,000 | 1.7% |
| 5 Bed | $1,039,000 | 1.3% |
% of Housing Stock
Rental Trends — Matthews, NC
As of July '25, Rentcast reports the average rent in Matthews, NC is $2,470, with a year-over-year rent change of 0.8%. Per bedroom, the median rent as of July '25 in Matthews, NC is studios: $1,370, 2-bedrooms: $1,200, 3-bedrooms: $2,240, 4-bedrooms: $2,690. The most common rental property sizes in Matthews, NC are 3-bedroom and 2-bedroom, accounting for 55.6% and 23.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,350 | $2,470 |
| Studio Rent | $1,370 | $1,370 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,200 | $1,200 |
| 3 Bed Rent | $2,200 | $2,240 |
| 4 Bed Rent | $2,500 | $2,690 |
% of Rental Stock
Property Listings — Matthews, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Matthews, NC is 61. This is a increase of 34.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $725,000 | 14.0% |
Listing Count | 180 | 43.0% |
| Listings as % of Homes | 0.9% | 43.0% |
Days on Market | 61 | 34.0% |
Demographics — Matthews, NC
As of the latest ACS Survey released in 2023, Matthews, NC has a population of 36,200, which has increased by 16.6% over the past 5 years. Matthews, NC is a popular place for families, as children make up 26.2% of the population. The area has a highly educated workforce, with 56.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,200 | 16.6% |
% Under 18 | 26.2% | -5.1% |
% Seniors | 12.8% | 0.0% |
% WFH | 23.7% | 121.5% |
% w/ College Degree | 56.7% | 9.7% |
As of the latest ACS Survey released in 2023, Matthews, NC is a predominantly white area, with 73.6% of the population identifying as white. The white population has shrunk by 10.9% in the last 5 years. The second most common race or ethnicity in Matthews, NC is hispanic, making up 8.7% of the population. Foreign-born residents account for 12.7% of the population in Matthews, NC, and this percentage has increased by 60.8% 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 | 73.6% | -10.9% |
% Black | 7.3% | 5.8% |
% Hispanic | 8.7% | 93.3% |
% Asian | 6.7% | 97.1% |
% Foreign Born | 12.7% | 60.8% |
Mortgage and Risk — Matthews, NC
According to HUD data as of 2023, there were 1027 mortgage originations in Matthews, NC, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Matthews, NC. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,027 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Matthews, NC
Matthews, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 8 |
Total Units Section 8 | 8 |
% Rentals under Section 8 | 0.7% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $2,030 |
| 2 Bedroom | $1,050 | $1,200 | $2,250 |
| 3 Bedroom | $580 | $2,200 | $2,780 |
| 4 Bedroom | $1,020 | $2,500 | $3,520 |
Affordability — Matthews, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $590,000 |
| Median Household Income | $130,000 |