Morganton, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Morganton Neighborhoods Since 2000




Morganton, NC Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Morganton Housing Market Information

With a population of 16,692, 6,586 total housing units (homes and apartments), and a median house value of $123,320, house prices in Morganton are solidly below the national average.

Single-family detached homes are the single most common housing type in Morganton, accounting for 65.44% of the city's housing units. Other types of housing that are prevalent in Morganton include large apartment complexes or high rise apartments ( 15.71%), duplexes, homes converted to apartments or other small apartment buildings ( 9.89%), and a few mobile homes or trailers ( 6.40%).

People in Morganton primarily live in small (one, two or no bedroom) single-family detached homes. Morganton has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Morganton's housing was primarily built during this period, from the '40s through the '60s. A full 40.83% of the city's housing hails from this era. Other housing ages represented in Morganton include homes built between 1970-1999 ( 38.56%) and housing constructed before 1939 ( 12.12%). There's also some housing in Morganton built between 2000 and later ( 8.49%).

Vacant housing appears to be an issue in Morganton. Fully 14.63% of the housing stock is classified as vacant. Left unchecked, vacant Morganton homes and apartments can be a drag on the real estate market, holding Morganton real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Morganton Home Appreciation Rates

Real estate appreciation rates in Morganton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.59% during the period.

Over the last year, Morganton appreciation rates have trailed the rest of the nation. In the last twelve months, Morganton's appreciation rate has been 1.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Morganton were at -1.33%, which equates to an annual appreciation rate of -5.22%.

Notably, Morganton's appreciation rate in the latest quarter is one of the lowest in America.

Relative to North Carolina, our data show that Morganton's latest annual appreciation rate is lower than 70% of the other cities and towns in North Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Morganton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Morganton - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Morganton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$123,320

Morganton, NC HOME PRICES

Value Range
> $1,024,000 0.0
$767,001 - $1,024,000 0.4
$512,001 - $767,000 1.9
$409,001 - $512,000 1.4
$307,001 - $409,000 4.1
$205,001 - $307,000 14.6
$102,001 - $205,000 39.9
$51,001 - $102,000 28.6
$0 - $51,000 9.1

Average for NC
Low for Nation

Value Relative to Nation Value Relative to State
63.6294386499473 58.983666061706

Number Of Homes And Apartments:
6,586

Morganton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
15.62% 0.85% 3 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$794 / per month

Homeownership Rate

Homeownership
Owners 55.25
Renters 44.75
Vacant 14.63

Housing Market Details

 

Age of Homes

AGE OF Morganton HOMES
2000 or Newer 8.5
1970 - 1999 38.6
1940 - 1969 40.8
1939 or Older 12.1

Types of Homes

TYPE OF Morganton HOMES
Single-Family 65.4
Townhomes 2.6
Small Apt. Buildings 9.9
Apt. Complexes 15.7
Mobile Homes 6.4
Other 0.0

Home Size

SIZE OF Morganton HOMES
No Bedroom 3.72
1 Bedroom 8.00
2 Bedrooms 38.63
3 Bedrooms 33.25
4 Bedrooms 12.47
5 or more bedrooms 3.94