Granite Falls, NC—28630
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Granite Falls, NC
As of Oct '25, the median home price in Granite Falls, NC is $247,000, with a year-over-year change of -2.8%. This indicates that home prices in Granite Falls, NC are decreasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $247,000 | -2.8% |
| Single Family | $247,000 | -2.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $170,000 | -6.6% |
3 Bed | $277,000 | -1.1% |
4 Bed | $465,000 | 2.0% |
| 5 Bed | $630,000 | 0.6% |
% of Housing Stock
Rental Trends — Granite Falls, NC
As of July '25, Rentcast reports the average rent in Granite Falls, NC is $1,570, with a year-over-year rent change of 4.0%. Per bedroom, the median rent as of July '25 in Granite Falls, NC is studios: $1,500, 1-bedrooms: $1,000, 2-bedrooms: $1,260, 3-bedrooms: $2,100, 4-bedrooms: $2,000. The most common rental property sizes in Granite Falls, NC are 3-bedroom and 2-bedroom, accounting for 42.5% and 38.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,570 |
| Studio Rent | $1,500 | $1,500 |
| 1 Bed Rent | $1,000 | $1,000 |
| 2 Bed Rent | $1,250 | $1,260 |
| 3 Bed Rent | $2,000 | $2,100 |
| 4 Bed Rent | $1,800 | $2,000 |
% of Rental Stock
Property Listings — Granite Falls, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Granite Falls, NC is 46. This is a increase of 17.0% 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 44.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $338,000 | 6.0% |
Listing Count | 77 | 42.0% |
| Listings as % of Homes | 0.4% | 42.0% |
Days on Market | 46 | 17.0% |
Demographics — Granite Falls, NC
As of the latest ACS Survey released in 2023, Granite Falls, NC has a population of 20,400, which has increased by 2.0% over the past 5 years. Granite Falls, NC is a moderately popular place for families, as children make up 20.6% of the population. The area has a poorly educated workforce, with 18.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,400 | 2.0% |
% Under 18 | 20.6% | -1.9% |
% Seniors | 21.2% | 16.5% |
% WFH | 7.2% | 44.0% |
% w/ College Degree | 18.2% | 10.3% |
As of the latest ACS Survey released in 2023, Granite Falls, NC is a predominantly white area, with 87.4% of the population identifying as white. The white population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in Granite Falls, NC is hispanic, making up 5.4% of the population. Foreign-born residents account for 1.9% of the population in Granite Falls, NC, and this percentage has decreased by 45.7% 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 | 87.4% | -3.6% |
% Black | 2.0% | -13.0% |
% Hispanic | 5.4% | 8.0% |
% Asian | 0.4% | -63.6% |
% Foreign Born | 1.9% | -45.7% |
Mortgage and Risk — Granite Falls, NC
According to HUD data as of 2023, there were 402 mortgage originations in Granite Falls, NC, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Granite Falls, 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 | 402 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Granite Falls, NC
As of 2024, the percent of homes in Granite Falls, NC under the Section 8 program is 5.3%. 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 Granite Falls, NC, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 96 |
Total Units Section 8 | 96 |
% Rentals under Section 8 | 5.3% |
% Occupied Section 8 | 85.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$90 | $1,000 | $910 |
| 2 Bedroom | -$130 | $1,250 | $1,120 |
| 3 Bedroom | -$570 | $2,000 | $1,430 |
| 4 Bedroom | -$120 | $1,800 | $1,680 |
Affordability — Granite Falls, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $247,000 |
| Median Household Income | $65,700 |