View in Interactive Map

Morganton, NC—28655

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$251,000
0.1% YoY Growth
Household Income
$53,500
23.1% YoY Growth
Days on Market
91
7.0% Longer YoY
Home Price Forecast
2.4%
Median Rent
$1,220
21.5% YoY Growth
1-Bed Rent
$925
18.1% YoY Growth
2-Bed Rent
$1,220
26.1% YoY Growth
3-Bed Rent
$1,500
9.9% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Morganton, NC

As of Dec '25, the median home price in Morganton, NC is $251,000, with a year-over-year change of -0.1%. This indicates that home prices in Morganton, NC are flat. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$251,000-0.1%
Single Family $250,0000.0%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$182,000-1.6%
    3 Bed
    		$276,0001.1%
    4 Bed
    		$396,0002.6%
    5 Bed N/AN/A
    Loading chart...

    % of Housing Stock

    Studio
    0.5%
    1 Bedroom
    3.7%
    2 Bedrooms
    32.3%
    3 Bedrooms
    50.2%
    4 Bedrooms
    10.7%
    5+ Bedrooms
    2.6%

    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.

    TypeMedian RentAverage 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
    Loading chart...

    % of Rental Stock

    Studio
    0.6%
    1 Bedroom
    6.5%
    2 Bedrooms
    52.8%
    3 Bedrooms
    35.8%
    4 Bedrooms
    4.1%
    5+ Bedrooms
    0.2%

    Property Listings — Morganton, NC

    As of Dec '25, Realtor.com reports that the median days on market for a home in Morganton, NC is 75. This is a increase of 7.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$335,000-4.0%
    Listing Count
    		18917.0%
    Listings as % of Homes0.4%17.0%
    Days on Market
    		917.0%
    Loading chart...

    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.

    MetricLatest CensusYoY % Change
    Population
    		56,2002.9%
    % Under 18
    		19.2%1.6%
    % Seniors
    		20.6%7.3%
    % WFH
    		5.4%134.8%
    % w/ College Degree
    		20.8%16.2%
    Loading chart...

    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

    MetricLatest Census5-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%
    Loading chart...

    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

    MetricZip 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%
    Loading chart...
    Loading chart...

    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio4.2
    Median Home Price$251,000
    Median Household Income$53,500

    Morganton, NC — ZIP Code Boundary Map

    Loading map...

    Nearby ZIP Codes

    Drexel

    28619

    Valdese, NC

    28690

    Nebo, NC

    28761

    Nebo, NC

    28761

    Rutherford College

    28671

    Frequently Asked Questions