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City · 5,840 residents · Stanly County, North Carolina

Locust , North Carolina

In Locust, a typical home is worth $322,100. Compared with all of Stanly County, the typical home value is 33% higher, typical household income is 26% higher, and the share of households that own their home is 12 points higher.

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  • Typical home value

    $322,100

    33% above the county

    11% above North Carolina

    • Locust
    • Stanly
    • North Carolina

  • Typical household income

    $76,504a year

    26% above the county

    6% above North Carolina

    • Locust
    • Stanly
    • North Carolina

  • Households that own their home

    87%

    12 points above the county

    20 points above North Carolina

    • Locust
    • Stanly
    • North Carolina

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

Market now, with Zillow data

Zillow data
Typical home value
$382,194
about the same as 12 months ago

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

Locust is in Stanly 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 Stanly County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Locust apart

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

  1. Nearby, in Albemarle, the typical home value is $204,800: 36% less than in Locust ($322,100).

  2. The typical home in Locust is worth $322,100, 33% more than in Stanly County as a whole ($242,400).

  3. The typical household income in Locust is $76,504, 26% more than in Stanly County as a whole ($60,704).

  4. 87% of households in Locust own their home, against 74% in Stanly County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Locust

What homes there are in Locust, 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

In Locust, 8 in 10 homes are single-family detached houses; in Stanly County, 8.

Year built

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
Monthly rent with utilities

With a mortgage

$1,621 a month

Stanly County: $1,420 a month

Without a mortgage

$481 a month

Stanly County: $430 a month

Owners with a mortgage

56%

Stanly County: 54%

The typical cost for an owner with a mortgage in Locust is $1,621 a month, more than in Stanly County ($1,420); without one, $481.

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

The typical home value in Locust rose 88% since 2015–2019, more than in Stanly County (75%).

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

MeasureLocustStanly CountyNorth CarolinaUnited States
Rental vacancy Unreliable estimateUnreliable estimate7.1%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate1.3%0.9%
More than one person per room Unreliable estimate1.9%2.2%3.4%
People per household 2.662.492.442.53
Drive alone 75%78%72%69%
Carpool Unreliable estimate10%9%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike Unreliable estimate1%2%3%
Work from home 14%10%16%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

Households in Locust are bigger: 2.66 people on average; in Stanly County, 2.49.

In Locust, 14% of workers work from home, more than in Stanly County (10%).

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 Locust?

A typical home costs more than the typical income allows

We start with a typical home in Locust, worth $322,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 41% of the typical household income in Locust, which is $76,504 a year. For that payment to be 28% of income, a household would need to earn about $111,271 a year.

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

Your numbers

Local data
$

Starts at the typical home value in Locust. 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 $11,274 (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

$2,596

at 7.18% · 30 years

Loan amount
$316,265
Total interest
$455,032
Paid off in
November 2056

Includes $5,439 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,785 a month

  • Tight

    $1,785 to $2,295 a month

  • Hard

    more than $2,295 a month

    Your payment · 41%

Compared with the typical household income in Locust ($76,504 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,596
Principal & interest$2,142
Property tax$177
Home insurance$134
FHA mortgage insurance (MIP)$142

You need at least $11,274 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

Locust and Stanly County

Locust is in Stanly 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).

Locust's own numbers

Typical home value
$322,100
Typical yearly household income
$76,504
Households that own their home
87%
Effective property tax rate
0.66%

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

Numbers for all of Stanly 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)
+63%
Homes in a high flood-risk zone
0.3%

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 Stanly County.

Everything about Stanly County

Buying

Buying a home in Locust

A typical home in Locust is worth $322,100: 33% above the county and 11% above North Carolina. With the typical household income in Locust ($76,504 a year), a typical home costs 4.2 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.

  • Locust 4.2 years
  • Stanly 4.0 years
  • North Carolina 4.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Stanly County

According to FHFA’s house price index, home prices in Stanly County rose 105% in the 10 years through 2025.

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

Period County North Carolina U.S.
Last year (2025) +1.0% +2.5% +2.9%
5 years (2020–2025) +63% +60% +47%
10 years (2015–2025) +105% +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

Locust next to Stanly 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
  • Locust $322,100
  • Stanly $242,400
  • North Carolina $288,900
  • United States $332,700
Typical yearly household income
  • Locust $76,504
  • Stanly $60,704
  • North Carolina $72,388
  • United States $80,734
See the full table
Locust next to Stanly County and North Carolina
Measure Locust Stanly County North Carolina U.S.
Typical home value $322,100 $242,400 $288,900 $332,700
Typical yearly household income $76,504 $60,704 $72,388 $80,734
Households that own their home 87% 74% 67% 65%
Typical yearly property tax $2,136 $1,385 $1,896 $3,119
Effective property tax rate 0.66% 0.57% 0.66% 0.94%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Stanly 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 Locust

For a typical $322,100 home in Locust, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Locust's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,596a month

    Least cash to close
    Down payment
    $11,274
    Cash to close
    $20,937
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $142

  • Conventional, 5% down $2,537a month

    Down payment
    $16,105
    Cash to close
    $25,768
    Rate
    7.18%
    Mortgage insurance
    PMI · $153

  • Conventional, 20% down, no PMI $2,057a month

    Down payment
    $64,420
    Cash to close
    $74,083
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,355a month

    Down payment
    $48,315
    Cash to close
    $57,978
    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 Locust and for Stanly County.

Property tax

Effective rate in Locust

0.66%of the home’s value each year

$2,136 a year for the typical owner in Locust.

  • Locust 0.66%
  • Stanly 0.57%
  • 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 Stanly County

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

Homes in the high-risk zone
0.3%
77
Of those, with NFIP insurance
31%
County North Carolina U.S.
Homes in the high-risk zone 0.3% 2.8% 3.5%
Of those, with NFIP insurance 31% 53% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Locust

The Census Bureau publishes no typical rent for Locust. Below are the fair market rents for Stanly County.

HUD publishes a fair market rent for all of Stanly 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 Stanly 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 $769 $14.79 $30,760
1 bedroom $774 $14.88 $30,960
2 bedrooms $1,012 $19.46 $40,480
3 bedrooms $1,388 $26.69 $55,520
4 bedrooms $1,447 $27.83 $57,880

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 Locust

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Locust is in ZIP code 28097.

For 2 bedrooms it is $1,020: $8 more than the fair market rent for Stanly County ($1,012).

  • 28097 $1,020$1,380

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Locust 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 Locust

HUD lists 3 buildings with rents for lower incomes in Locust. These are the largest.

  • Town Centre Apartments 259C Town Center Dr, Locust 28097 60 low-income homes · 2 bd: 36 · 3 bd: 24 · In service since 2017 · For families
  • The Village 259C Town Center Dr, Locust 28097 48 low-income homes · 1 bd: 10 · 2 bd: 24 · 3 bd: 14 · In service since 2010 · For families
  • Ardsley Commons 317 Ardsley Dr, Locust 28097 36 low-income homes · 1 bd: 32 · 2 bd: 4 · In service since 2013 · For older adults

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

Free help

Help to buy or rent in Locust

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 Stanly 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 Locust

No down payment, repair or rent-help program on our list is for Locust or Stanly County. The ones below are statewide in North Carolina: they work in Locust 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 Locust

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

  • Prosperity Unlimited, Inc

    1660 Garnet St, Kannapolis · 17 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 9 more
    (704) 933-7405

  • NSC (naca Counseling Subsidiary) - National Counseling Center

    5855 Executive Center Dr Suite 400, Charlotte · 18 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (606) 230-6222

  • NSC (naca Counseling Subsidiary) - Charlotte, NC

    5500 Executive Center Dr Ste 105, Charlotte · 18 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (704) 536-7676

All counseling agencies in North Carolina

Help in Spanish near Locust

2 of the 3 agencies on this list say they serve 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 Locust

In HUD’s record, no housing authority with an office in Stanly County is named for Locust or Stanly County.

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

Cities

Other cities in Stanly County

These cities are also in Stanly County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Stanly County Housing in North Carolina

Nearby cities

The cities closest to Locust, with the typical home value.

Neighboring counties

If Stanly 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 Locust.

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

Questions

Housing questions about Locust

Short answers with the numbers for Locust and all of Stanly 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 Locust?

The typical home value in Locust is $322,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Stanly County it is $242,400.

What is the FHA loan limit in Locust?

Locust uses the FHA limit for all of Stanly 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 Locust?

The typical homeowner in Locust pays $2,136 a year, according to the U.S. Census Bureau. That is 0.66% of the home’s value; in Stanly County, the rate is 0.57%.

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

We found no HUD-approved counseling agencies with an office in Stanly 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).