Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$266,722+1.7% YoY · prices are rising
Market right nowBuyer's marketMore homes for sale than last year, 25% have cut their price
Income needed to buy, per year$57,820About 0.9× the local median income ($65,713): affordable for a typical household
Days on market69 daysAbout the same pace as a year ago
Next 12 months+2.3%Zillow expects prices to rise slightly
The typical home in Hickory-Lenoir-Morganton, NC is worth $266,722, up 1.7% from a year ago. That is well above what local incomes have historically supported: fair value is about $228,464, so the area is 16.7% overvalued. It is a buyer's market: homes take about 69 days to sell, listings are up 23% from a year ago, 25% of listings have had a price cut. Zillow expects prices to rise about 2.3% over the next year. A household needs about $57,820 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $65,713. Typical rent is $1,595 a month, or $1,770 for a house. In the latest IRS figures, 3,074 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$266,722
Change in 1 year
+1.7%
Overvalued %
+16.7%
Show 7 more
Fair home value
$228,464
Change in 5 years
+29.5%
Zillow forecast, next 12 months
+2.3%
Home value to income
4.1×
Monthly mortgage payment (20% down)
$1,445
Income needed to afford it
$57,820
Property tax rate
0.60%
Rent and investing
Typical rent
$1,595
Typical rent for houses
$1,770
Price-to-rent ratio
13.9×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,147
Gross rental yield
7.18%
Cap rate (estimate)
4.66%
Market activity
Listings vs a year ago
+22.6%
Days on market
69
Listings with a price cut
25.0%
Show 3 more
Homes for sale
1,459
Pending sales per 100 listings
37
Asking price per sq ft
$196
People and jobs
Median household income
$65,713
Population change (1 year)
+0.9%
Unemployment rate
4.3%
Show 4 more
Population
376,890
Income adjusted for cost of living
$74,252
Net moves in (IRS)
+3,074
Cost of living (US = 100)
88.5
Schools, risk and environment
School rating (1 to 10)
6.4
FEMA hazard risk score (0 to 100)
71.9
Unhealthy air days a year
0
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Flood risk score
80.0
Wildfire risk score
41.5
Walkability (1 to 20)
6.0
Road, rail and air noise
55 dB
Questions people ask
Is Hickory-Lenoir-Morganton, NC overvalued?
Home prices in Hickory-Lenoir-Morganton, NC are well above what local incomes have historically supported: fair value is about $228,464, so the area is 16.7% overvalued.
Is Hickory-Lenoir-Morganton, NC a buyer's or seller's market?
Hickory-Lenoir-Morganton, NC is a buyer's market: homes take about 69 days to sell, listings are up 23% from a year ago, 25% of listings have had a price cut.
Are home prices going down in Hickory-Lenoir-Morganton, NC?
Home values in Hickory-Lenoir-Morganton, NC are up 1.7% over the last year. Zillow's forecast for the next 12 months is +2.3%.
How much do you need to earn to buy a home in Hickory-Lenoir-Morganton, NC?
A household needs about $57,820 a year to afford the typical home in Hickory-Lenoir-Morganton, NC at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $65,713.