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City · 7,363 residents · Rutherford County, North Carolina

Forest City , North Carolina

In Forest City, a typical home is worth $160,800 and typical rent is $813 a month. Compared with all of Rutherford County, typical household income is 31% lower, the typical home value is 20% lower, and the share of households that own their home is 28 points lower.

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  • Typical home value

    $160,800

    20% below the county

    44% below North Carolina

    • Forest City
    • Rutherford
    • North Carolina

  • Typical rent

    $813a month

    4% above the county

    34% below North Carolina

    • Forest City
    • Rutherford
    • North Carolina

  • Typical household income

    $35,524a year

    31% below the county

    51% below North Carolina

    • Forest City
    • Rutherford
    • North Carolina

  • Households that own their home

    45%

    28 points below the county

    21 points below North Carolina

    • Forest City
    • Rutherford
    • North Carolina

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$189,083
3.8% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Forest City is in Rutherford County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Rutherford County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Forest City apart

What this place has that others do not, from public data, most unusual first.

  1. 45% of households in Forest City own their home, against 74% in Rutherford County.

  2. Forest City has the 2nd lowest typical household income of the 165 cities in North Carolina with more than 5,000 people ($35,524).

  3. According to Zillow, in the 12 months to September 2026 the typical home value in Forest City rose 3.8%; in North Carolina, it barely changed.

  4. The typical home in Forest City is worth $160,800, 20% less than in Rutherford County as a whole ($201,800).

  5. Forest City has the 15th lowest typical rent of the 154 cities in North Carolina with more than 5,000 people ($813).

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data

The homes here

Housing in Forest City

What homes there are in Forest City, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

As in Rutherford County, most homes in Forest City are detached houses (71%).

Year built

Homes in Forest City are older: the typical year built is 1965; in Rutherford County, 1981.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

At least 99% of owner-occupied homes in Forest City are worth less than $500,000, below the FHA loan limit for Rutherford County ($541,287).

Monthly rent with utilities

HUD's 2-bedroom fair market rent (FMR) for Rutherford County is $1,012; about 84% of rents in Forest City are below it.

With a mortgage

$1,131 a month

Rutherford County: $1,226 a month

Without a mortgage

$359 a month

Rutherford County: $370 a month

Owners with a mortgage

49%

Rutherford County: 48%

The typical cost for an owner with a mortgage in Forest City is $1,131 a month, less than in Rutherford County ($1,226); without one, $359.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Forest City rose 59%; in Rutherford County, it rose 71%.

The typical rent in Forest City rose 37% over the same time; in Rutherford County, it rose 23%.

Here income did not keep up with housing: it rose 29%, while home values changed +59% and rent +37%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureForest CityRutherford CountyNorth CarolinaUnited States
Rental vacancy Unreliable estimate9.1%7.1%5.5%
Homeowner vacancy Unreliable estimate1.4%1.3%0.9%
More than one person per room Unreliable estimate2.4%2.2%3.4%
People per household 2.702.392.442.53
Drive alone 81%80%72%69%
Carpool Unreliable estimate9%9%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike Unreliable estimateUnreliable estimate2%3%
Work from home Unreliable estimate9%16%15%
Other means Unreliable estimate1%1%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

On average, a household in Forest City has 2.70 people, more than in Rutherford County (2.39).

To get to work, 81% of workers in Forest City drive alone; in Rutherford County, 80%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Forest City?

A typical home costs more than the typical income allows

We start with a typical home in Forest City, worth $160,800, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 44% of the typical household income in Forest City, which is $35,524 a year. For that payment to be 28% of income, a household would need to earn about $55,836 a year.

The calculator's FHA and conventional loan limits are those of all of Rutherford County.

Your numbers

Local data
$

Starts at the typical home value in Forest City. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $5,628 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,303

at 7.18% · 30 years

Loan amount
$157,888
Total interest
$227,163
Paid off in
November 2056

Includes $2,716 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $829 a month

  • Tight

    $829 to $1,066 a month

  • Hard

    more than $1,066 a month

    Your payment · 44%

Compared with the typical household income in Forest City ($35,524 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,303
Principal & interest$1,070
Property tax$95
Home insurance$67
FHA mortgage insurance (MIP)$71

You need at least $5,628 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Forest City and Rutherford County

Forest City is in Rutherford County, North Carolina. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Forest City's own numbers

Typical home value
$160,800
Typical monthly rent
$813
Typical yearly household income
$35,524
Households that own their home
45%
Effective property tax rate
0.71%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Rutherford County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,012
Price change over 5 years (FHFA)
+67%
Homes in a high flood-risk zone
0.7%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Rutherford County.

Everything about Rutherford County

Buying

Buying a home in Forest City

A typical home in Forest City is worth $160,800: 20% below the county and 44% below North Carolina. With the typical household income in Forest City ($35,524 a year), a typical home costs 4.5 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Forest City 4.5 years
  • Rutherford 3.9 years
  • North Carolina 4.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Rutherford County

According to FHFA’s house price index, home prices in Rutherford County rose 114% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Rutherford County.

Period County North Carolina U.S.
Last year (2025) +3.4% +2.5% +2.9%
5 years (2020–2025) +67% +60% +47%
10 years (2015–2025) +114% +107% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Forest City next to Rutherford County, North Carolina and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Forest City $160,800
  • Rutherford $201,800
  • North Carolina $288,900
  • United States $332,700
Typical monthly rent
  • Forest City $813
  • Rutherford $783
  • North Carolina $1,228
  • United States $1,413
Typical yearly household income
  • Forest City $35,524
  • Rutherford $51,410
  • North Carolina $72,388
  • United States $80,734
See the full table
Forest City next to Rutherford County and North Carolina
Measure Forest City Rutherford County North Carolina U.S.
Typical home value $160,800 $201,800 $288,900 $332,700
Typical monthly rent $813 $783 $1,228 $1,413
Typical yearly household income $35,524 $51,410 $72,388 $80,734
Households that own their home 45% 74% 67% 65%
Typical yearly property tax $1,143 $1,178 $1,896 $3,119
Effective property tax rate 0.71% 0.58% 0.66% 0.94%
Renters with high rent for their income 59% 47% 49% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Rutherford County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Forest City

For a typical $160,800 home in Forest City, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Forest City's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,303a month

    Least cash to close
    Down payment
    $5,628
    Cash to close
    $10,452
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $71

  • Conventional, 5% down $1,273a month

    Down payment
    $8,040
    Cash to close
    $12,864
    Rate
    7.18%
    Mortgage insurance
    PMI · $76

  • Conventional, 20% down, no PMI $1,034a month

    Down payment
    $32,160
    Cash to close
    $36,984
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,182a month

    Down payment
    $24,120
    Cash to close
    $28,944
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Forest City and for Rutherford County.

Property tax

Effective rate in Forest City

0.71%of the home’s value each year

$1,143 a year for the typical owner in Forest City.

  • Forest City 0.71%
  • Rutherford 0.58%
  • North Carolina 0.66%

What North Carolina publishes Elderly or Disabled Homestead Exclusion (North Carolina General Assembly (statute))

Exemptions and deadlines in North Carolina

Flood risk in Rutherford County

FEMA does not publish these numbers by city: they are for all of Rutherford County.

Homes in the high-risk zone
0.7%
196
Of those, with NFIP insurance
38%
County North Carolina U.S.
Homes in the high-risk zone 0.7% 2.8% 3.5%
Of those, with NFIP insurance 38% 53% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Forest City

Typical rent in Forest City is $813 a month: 4% above the county. In Forest City, 59% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Rutherford County, by unit size. To pay the 2-bedroom one ($1,012 a month) without spending more than 30% of your income, you would need to earn $19.46 an hour working full time.

HUD fair market rent for all of Rutherford County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $861 $16.56 $34,440
1 bedroom $866 $16.65 $34,640
2 bedrooms $1,012 $19.46 $40,480
3 bedrooms $1,354 $26.04 $54,160
4 bedrooms $1,374 $26.42 $54,960

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Forest City

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Forest City is in ZIP code 28043.

For 2 bedrooms it is $1,010: $2 less than the fair market rent for Rutherford County ($1,012).

  • 28043 $1,010$1,350

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Forest City when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Forest City

HUD lists 9 buildings with rents for lower incomes in Forest City. These are the largest.

  • Amity Apartments 181 Amity Dr, Forest City 28043 151 homes, 149 low-income · Run by Forest City Housing Authority · Average payment: $261 a month · Average wait: 15 months (828) 245-1390
  • Rutherford Manor 775 S Church St, Forest City 28043 116 low-income homes · 1 bd: 46 · 2 bd: 70 · In service since 2011 · For families
  • The Highlands Apartments 171 Butler Rd, Forest City 28043 44 homes, 43 low-income · 1 bd: 20 · 2 bd: 24 · In service since 2009 · For families
  • Harmony Hills 375 Harmon St, Forest City 28043 40 low-income homes · For older adults (828) 248-1410
  • Oak Villa Apartments 242 E Spruce St, Forest City 28043 25 low-income homes · For families (828) 245-1390

See all 19 buildings in Rutherford County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Forest City

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Rutherford County. The nearest ones are below; many serve by phone or online.

A grandmother pushes her grandson on a playground swing.

HUD counseling is free or low-cost

Assistance programs in Forest City

No down payment, repair or rent-help program on our list is for Forest City or Rutherford County. The ones below are statewide in North Carolina: they work in Forest City the same as in the rest of the state.

Which programs do I qualify for? All programs in North Carolina

  • NC Home Advantage Mortgage

    Statewide in North Carolina

    NCHFA fixed-rate mortgage with down payment assistance, for first-time buyers and for people who have owned a home before, in North Carolina. Offered by North Carolina Housing Finance Agency (NCHFA).

    Forgivable

    See the program Official page

  • NC 1st Home Advantage Down Payment

    Statewide in North Carolina

    A fixed amount of NCHFA down payment assistance for first-time buyers and veterans in North Carolina. Offered by North Carolina Housing Finance Agency (NCHFA).

    Type not stated

    See the program Official page

  • Community Partners Loan Pool (CPLP)

    Statewide in North Carolina

    NCHFA interest-free loan with deferred payments of up to 25% of the price (maximum $50,000) for the down payment of low- and moderate-income buyers in North Carolina; you apply through a member organization. Offered by North Carolina Housing Finance Agency (NCHFA).

    Deferred

    See the program Official page

Housing counselors near Forest City

The HUD-approved agencies closest to the center of Forest City, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Cleveland County Community Development Corporation

    823 W Warren St, Shelby · 18 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 11 more
    (704) 480-7701

  • City of Gastonia

    150 S York St, Gastonia · 39 miles away

    • Pre-purchase counseling
    • Homebuyer education workshops
    (704) 866-6756

  • Western Piedmont Council of Governments

    1880 2nd Ave NW, Hickory · 40 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 3 more
    (828) 322-9191

All counseling agencies in North Carolina

Help in Spanish near Forest City

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Forest City

HUD’s record names them for Forest City or Rutherford County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

One other authority has an office in Rutherford County: see the list Source: HUD

Cities

Nearby cities

The cities closest to Forest City, with the typical home value.

Everything about Rutherford County Housing in North Carolina

Neighboring counties

If Rutherford County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Forest City.

All guides
A smiling girl holds up a small mushroom she found on a forest outing.

Questions

Housing questions about Forest City

Short answers with the numbers for Forest City and all of Rutherford County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Forest City?

The typical home value in Forest City is $160,800, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Rutherford County it is $201,800.

How much does it cost to rent in Forest City?

Typical rent in Forest City is $813 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Rutherford County is $1,012.

What is the FHA loan limit in Forest City?

Forest City uses the FHA limit for all of Rutherford County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Forest City?

The typical homeowner in Forest City pays $1,143 a year, according to the U.S. Census Bureau. That is 0.71% of the home’s value; in Rutherford County, the rate is 0.58%.

Where can I find free help to buy or rent in Forest City?

We found no HUD-approved counseling agencies with an office in Rutherford County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).