Forest City, NC—28043
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Forest City, NC
As of Oct '25, the median home price in Forest City, NC is $182,000, with a year-over-year change of -6.4%. This indicates that home prices in Forest City, NC are decreasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $182,000 | -6.4% |
| Single Family | $182,000 | -4.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $133,000 | -7.6% |
3 Bed | $202,000 | -2.9% |
4 Bed | $293,000 | 2.8% |
| 5 Bed | $339,000 | 1.8% |
% of Housing Stock
Rental Trends — Forest City, NC
As of July '25, Rentcast reports the average rent in Forest City, NC is $1,100, with a year-over-year rent change of 7.8%. Per bedroom, the median rent as of July '25 in Forest City, NC is studios: $695, 1-bedrooms: $746, 2-bedrooms: $1,080, 3-bedrooms: $1,820, 4-bedrooms: $1,880. The most common rental property sizes in Forest City, NC are 2-bedroom and 3-bedroom, accounting for 44.9% and 32.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $925 | $1,100 |
| Studio Rent | $695 | $695 |
| 1 Bed Rent | $750 | $746 |
| 2 Bed Rent | $925 | $1,080 |
| 3 Bed Rent | $1,650 | $1,820 |
| 4 Bed Rent | $1,880 | $1,880 |
% of Rental Stock
Property Listings — Forest City, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Forest City, NC is 84. This is a increase of 38.0% 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 | $264,000 | 5.0% |
Listing Count | 82 | 8.0% |
| Listings as % of Homes | 0.4% | 8.0% |
Days on Market | 84 | 38.0% |
Demographics — Forest City, NC
As of the latest ACS Survey released in 2023, Forest City, NC has a population of 20,900, which has remained stable by -0.8% over the past 5 years. Forest City, NC is a moderately popular place for families, as children make up 22.8% of the population. The area has a poorly educated workforce, with 17.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,900 | -0.8% |
% Under 18 | 22.8% | -5.4% |
% Seniors | 17.9% | -13.5% |
% WFH | 5.1% | 264.3% |
% w/ College Degree | 17.9% | 29.7% |
As of the latest ACS Survey released in 2023, Forest City, NC is a predominantly white area, with 68.1% of the population identifying as white. The white population has shrunk by 9.8% in the last 5 years. The second most common race or ethnicity in Forest City, NC is black, making up 13.6% of the population. Foreign-born residents account for 4.9% of the population in Forest City, NC, and this percentage has increased by 22.5% 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 | 68.1% | -9.8% |
% Black | 13.6% | -1.4% |
% Hispanic | 9.9% | 28.6% |
% Asian | 0.8% | -27.3% |
% Foreign Born | 4.9% | 22.5% |
Mortgage and Risk — Forest City, NC
According to HUD data as of 2023, there were 322 mortgage originations in Forest City, NC, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Forest City, 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 | 322 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Forest City, NC
Forest City, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 358 |
Total Units Section 8 | 167 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 79.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $60 | $750 | $810 |
| 2 Bedroom | $5 | $925 | $930 |
| 3 Bedroom | -$400 | $1,650 | $1,250 |
| 4 Bedroom | -$440 | $1,880 | $1,440 |
Affordability — Forest City, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $182,000 |
| Median Household Income | $41,700 |