Morganton, NC—28655
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Morganton, NC
As of Oct '25, the median home price in Morganton, NC is $253,000, with a year-over-year change of -0.6%. This indicates that home prices in Morganton, NC are flat. 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 | $253,000 | -0.6% |
| Single Family | $252,000 | -0.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $184,000 | -2.1% |
3 Bed | $279,000 | 1.1% |
4 Bed | $400,000 | 2.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Morganton, NC
As of July '25, Rentcast reports the average rent in Morganton, NC is $1,580, with a year-over-year rent change of 21.5%. Per bedroom, the median rent as of July '25 in Morganton, NC is studios: $612, 1-bedrooms: $1,140, 2-bedrooms: $1,450, 3-bedrooms: $1,550, 4-bedrooms: $8,000. The most common rental property sizes in Morganton, NC are 2-bedroom and 3-bedroom, accounting for 52.8% and 35.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,220 | $1,580 |
| Studio Rent | $350 | $612 |
| 1 Bed Rent | $925 | $1,140 |
| 2 Bed Rent | $1,220 | $1,450 |
| 3 Bed Rent | $1,500 | $1,550 |
| 4 Bed Rent | $8,000 | $8,000 |
% of Rental Stock
Property Listings — Morganton, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Morganton, NC is 72. This is a increase of 5.0% 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 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $344,000 | -3.0% |
Listing Count | 214 | 6.0% |
| Listings as % of Homes | 0.4% | 6.0% |
Days on Market | 72 | 5.0% |
Demographics — Morganton, NC
As of the latest ACS Survey released in 2023, Morganton, NC has a population of 56,200, which has increased by 2.9% over the past 5 years. Morganton, NC is a moderately popular place for families, as children make up 19.2% of the population. The area has a poorly educated workforce, with 20.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 56,200 | 2.9% |
% Under 18 | 19.2% | 1.6% |
% Seniors | 20.6% | 7.3% |
% WFH | 5.4% | 134.8% |
% w/ College Degree | 20.8% | 16.2% |
As of the latest ACS Survey released in 2023, Morganton, NC is a predominantly white area, with 74.6% of the population identifying as white. The white population has shrunk by 3.2% in the last 5 years. The second most common race or ethnicity in Morganton, NC is hispanic, making up 10.8% of the population. Foreign-born residents account for 6.6% of the population in Morganton, NC, and this percentage has increased by 29.4% 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 | 74.6% | -3.2% |
% Black | 8.4% | -9.7% |
% Hispanic | 10.8% | 38.5% |
% Asian | 2.7% | 0.0% |
% Foreign Born | 6.6% | 29.4% |
Mortgage and Risk — Morganton, NC
According to HUD data as of 2023, there were 1066 mortgage originations in Morganton, NC, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Morganton, NC. Investor activity is low, as 1.0% 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 | 1,066 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 1.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Morganton, NC
As of 2024, the percent of homes in Morganton, NC under the Section 8 program is 4.6%. 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. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Morganton, NC, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 543 |
Total Units Section 8 | 277 |
% Rentals under Section 8 | 4.6% |
% Occupied Section 8 | 83.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $425 | $925 | $1,350 |
| 2 Bedroom | $300 | $1,220 | $1,520 |
| 3 Bedroom | $450 | $1,500 | $1,950 |
| 4 Bedroom | -$5,430 | $8,000 | $2,570 |
Affordability — Morganton, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $253,000 |
| Median Household Income | $53,500 |