Real Estate Investing in Morganton, North Carolina (28655)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28655 (Morganton, NC)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.4% vacancy may signal weakening demand.
What’s happening in Morganton, NC (28655)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 28655 Morganton
Put differently, ZIP 28655 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $261K median. It rewards specialists, not generalists.
The 28655 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Regionally, 28655 sits on the difficult end of the NC spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
Resident income in 28655 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Distressed ZIPs reward experience. solid returns are possible in 28655, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Morganton:
Property Strategy for 28655
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $183,695 | $1,370 | 5.4% | +8.1% | $91,847 |
| 3BR | $278,543 | $1,760 | 4.5% | +8.0% | $92,848 |
| 4BR | $400,286 | $2,320 | 4.2% | +8.2% | $100,071 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 28655 Compare?
| Metric | 28655 | Morganton | Hickory-Lenoir-Morganton, NC | North Carolina |
|---|---|---|---|---|
| Home Value | $261,340 | $261,340 | N/A | $330,565 |
| 5-Year CAGR | 5.6% | 5.6% | N/A | 7.8% |
| Avg Rent | $1,483 | $1,483 | N/A | - |
| Cap Rate | 4.4% | 4.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 28655 (Morganton, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $261,340 |
| Monthly Rent | $1,483 |
| Price-to-Rent | 14.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.8% |
| Cap Rate | 4.4% |
| 5-Year IRR | 10.0% |
📈 Home Appreciation
| 1-Year | +3.9% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 28655
Population: 56,201
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 28655
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,102 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are homes affordable in Morganton, NC?
In Morganton, NC the median home value sits at $261K. Against the broader NC market, that reads as reasonable for most investors.
Does Morganton, NC favor landlords or tenants?
NC ranks as a landlord-friendly state for landlord-tenant law. Morganton generally follows the statewide framework, so landlords face reasonable operating rules.
Is Morganton in NC worth investing in?
The 3.0/5 investability rating in Morganton, NC reflects its $261K prices and $1,483/mo rents. Investors generally consider it a solid option within NC.
What is the average monthly rent in Morganton, NC?
Rental rates in Morganton, NC average $1,483/mo. Tenant demand and $261K home values make the yield look reasonable by investor standards.
Is Morganton, NC a good market for FHA house hackers?
For house hackers, Morganton, NC is a challenging. The $1,483/mo rent on a unit helps defray the mortgage on a $261K property.
You know 28655 now. You don’t know where it ranks.
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How 28655 ranks in Hickory-Lenoir-Morganton, NC
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