Lenoir, NC—28645
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lenoir, NC
As of Oct '25, the median home price in Lenoir, NC is $210,000, with a year-over-year change of -2.8%. This indicates that home prices in Lenoir, NC are decreasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $210,000 | -2.8% |
| Single Family | $210,000 | -3.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $171,000 | -3.4% |
2 Bed | $150,000 | -6.2% |
3 Bed | $241,000 | -1.6% |
4 Bed | $365,000 | 0.3% |
| 5 Bed | $437,000 | 1.9% |
% of Housing Stock
Rental Trends — Lenoir, NC
As of July '25, Rentcast reports the average rent in Lenoir, NC is $1,260, with a year-over-year rent change of 4.1%. Per bedroom, the median rent as of July '25 in Lenoir, NC is studios: $500, 1-bedrooms: $988, 2-bedrooms: $1,140, 3-bedrooms: $1,380, 4-bedrooms: $3,000. The most common rental property sizes in Lenoir, NC are 2-bedroom and 3-bedroom, accounting for 46.3% and 29.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,120 | $1,260 |
| Studio Rent | $500 | $500 |
| 1 Bed Rent | $850 | $988 |
| 2 Bed Rent | $1,100 | $1,140 |
| 3 Bed Rent | $1,200 | $1,380 |
| 4 Bed Rent | $3,000 | $3,000 |
% of Rental Stock
Property Listings — Lenoir, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Lenoir, NC is 75. This is a increase of 27.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $349,000 | 7.0% |
Listing Count | 230 | 67.0% |
| Listings as % of Homes | 0.4% | 67.0% |
Days on Market | 75 | 27.0% |
Demographics — Lenoir, NC
As of the latest ACS Survey released in 2023, Lenoir, NC has a population of 46,200, which has remained stable by -0.8% over the past 5 years. Lenoir, NC is a moderately popular place for families, as children make up 19.4% of the population. The area has a poorly educated workforce, with 17.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 46,200 | -0.8% |
% Under 18 | 19.4% | -5.4% |
% Seniors | 21.5% | 7.5% |
% WFH | 5.7% | 78.1% |
% w/ College Degree | 17.3% | 24.5% |
As of the latest ACS Survey released in 2023, Lenoir, NC is a predominantly white area, with 82.6% of the population identifying as white. The white population has shrunk by 3.1% in the last 5 years. The second most common race or ethnicity in Lenoir, NC is hispanic, making up 7.7% of the population. Foreign-born residents account for 4.3% of the population in Lenoir, NC, and this percentage has increased by 26.5% 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 | 82.6% | -3.1% |
% Black | 5.9% | -18.1% |
% Hispanic | 7.7% | 45.3% |
% Asian | 0.8% | 100.0% |
% Foreign Born | 4.3% | 26.5% |
Mortgage and Risk — Lenoir, NC
According to HUD data as of 2023, there were 868 mortgage originations in Lenoir, NC, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Lenoir, NC. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 868 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 2.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Lenoir, NC
As of 2024, the percent of homes in Lenoir, NC under the Section 8 program is 10.4%. 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. 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Lenoir, NC, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 719 |
Total Units Section 8 | 547 |
% Rentals under Section 8 | 10.4% |
% Occupied Section 8 | 89.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$30 | $850 | $820 |
| 2 Bedroom | -$70 | $1,100 | $1,030 |
| 3 Bedroom | $60 | $1,200 | $1,260 |
| 4 Bedroom | -$1,250 | $3,000 | $1,750 |
Affordability — Lenoir, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $210,000 |
| Median Household Income | $50,500 |