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Morehead City, NC—28557

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$406,000
0.2% YoY Growth
Household Income
$67,800
24.3% YoY Growth
Days on Market
99
34.0% Longer YoY
Home Price Forecast
3.2%
Median Rent
$1,850
2.3% YoY Growth
1-Bed Rent
$1,530
71.8% YoY Growth
2-Bed Rent
$1,100
3.8% YoY Growth
3-Bed Rent
$2,400
15.9% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Morehead City, NC

As of Dec '25, the median home price in Morehead City, NC is $406,000, 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 3.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$406,0000.2%
Single Family $419,0000.5%
Condos $349,000-0.9%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$271,0000.0%
    3 Bed
    		$414,0000.0%
    4 Bed
    		$599,0002.0%
    5 Bed $943,0703.4%
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    % of Housing Stock

    Studio
    3.4%
    1 Bedroom
    5.2%
    2 Bedrooms
    23.1%
    3 Bedrooms
    45.0%
    4 Bedrooms
    20.8%
    5+ Bedrooms
    2.4%

    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.

    TypeMedian RentAverage Rent
    Average Rent$1,850$2,130
    Studio Rent N/AN/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
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    % of Rental Stock

    Studio
    9.0%
    1 Bedroom
    12.1%
    2 Bedrooms
    40.7%
    3 Bedrooms
    25.6%
    4 Bedrooms
    12.2%
    5+ Bedrooms
    0.4%

    Property Listings — Morehead City, NC

    As of Dec '25, Realtor.com reports that the median days on market for a home in Morehead City, NC is 82. This is a increase of 46.0% 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 14.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$531,0009.0%
    Listing Count
    		11132.0%
    Listings as % of Homes0.8%32.0%
    Days on Market
    		9934.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		15,4001.0%
    % Under 18
    		17.6%12.1%
    % Seniors
    		26.6%5.1%
    % WFH
    		9.1%78.4%
    % w/ College Degree
    		40.0%16.6%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio5.6
    Median Home Price$406,000
    Median Household Income$67,800

    Morehead City, NC — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    Frequently Asked Questions