Morehead City, NC—28557
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Morehead City, NC
As of Oct '25, the median home price in Morehead City, NC is $407,000, with a year-over-year change of 0.2%. This indicates that home prices in Morehead City, NC are flat. According to Zillow, the 1-year price projection is 2.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $407,000 | 0.2% |
| Single Family | $421,000 | 0.5% |
| Condos | $344,000 | -1.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $269,000 | -0.7% |
3 Bed | $416,000 | 0.2% |
4 Bed | $601,000 | 2.2% |
| 5 Bed | $958,000 | 3.2% |
% of Housing Stock
Rental Trends — Morehead City, NC
As of July '25, Rentcast reports the average rent in Morehead City, NC is $2,130, with a year-over-year rent change of -2.3%. Per bedroom, the median rent as of July '25 in Morehead City, NC is 1-bedrooms: $1,460, 2-bedrooms: $1,360, 3-bedrooms: $2,620, 4-bedrooms: $2,770. The most common rental property sizes in Morehead City, NC are 2-bedroom and 3-bedroom, accounting for 40.7% and 25.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,850 | $2,130 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,530 | $1,460 |
| 2 Bed Rent | $1,100 | $1,360 |
| 3 Bed Rent | $2,400 | $2,620 |
| 4 Bed Rent | $2,600 | $2,770 |
% of Rental Stock
Property Listings — Morehead City, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Morehead City, NC is 78. This is a increase of 49.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $566,000 | 1.0% |
Listing Count | 121 | 32.0% |
| Listings as % of Homes | 0.8% | 32.0% |
Days on Market | 78 | 49.0% |
Demographics — Morehead City, NC
As of the latest ACS Survey released in 2023, Morehead City, NC has a population of 15,400, which has remained stable by 1.0% over the past 5 years. Morehead City, NC is a moderately popular place for families, as children make up 17.6% of the population. The area has a moderately educated workforce, with 40.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,400 | 1.0% |
% Under 18 | 17.6% | 12.1% |
% Seniors | 26.6% | 5.1% |
% WFH | 9.1% | 78.4% |
% w/ College Degree | 40.0% | 16.6% |
As of the latest ACS Survey released in 2023, Morehead City, NC is a predominantly white area, with 83.2% of the population identifying as white. The white population has grown by 0.8% in the last 5 years. The second most common race or ethnicity in Morehead City, NC is hispanic, making up 6.3% of the population. Foreign-born residents account for 3.8% of the population in Morehead City, NC, and this percentage has decreased by 40.6% 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 | 83.2% | 0.8% |
% Black | 4.5% | -41.6% |
% Hispanic | 6.3% | 10.5% |
% Asian | 1.3% | -23.5% |
% Foreign Born | 3.8% | -40.6% |
Mortgage and Risk — Morehead City, NC
According to HUD data as of 2023, there were 314 mortgage originations in Morehead City, NC, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Morehead City, NC. Investor activity is low, as 3.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 314 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 3.0% |
% Second Loans | 12.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Morehead City, NC
Morehead City, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 400 |
Total Units Section 8 | 227 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 86.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$560 | $1,530 | $970 |
| 2 Bedroom | $170 | $1,100 | $1,270 |
| 3 Bedroom | -$750 | $2,400 | $1,650 |
| 4 Bedroom | -$510 | $2,600 | $2,090 |
Affordability — Morehead City, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.6 |
| Median Home Price | $407,000 |
| Median Household Income | $67,800 |