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City · 9,806 residents · Carteret County, North Carolina

Morehead City , North Carolina

In Morehead City, a typical home is worth $357,400 and typical rent is $1,134 a month. Compared with all of Carteret County, typical household income is 22% lower, the typical home value is 7% higher, and the share of households that own their home is 28 points lower.

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  • Typical home value

    $357,400

    7% above the county

    24% above North Carolina

    • Morehead City
    • Carteret
    • North Carolina

  • Typical rent

    $1,134a month

    2% above the county

    8% below North Carolina

    • Morehead City
    • Carteret
    • North Carolina

  • Typical household income

    $56,233a year

    22% below the county

    22% below North Carolina

    • Morehead City
    • Carteret
    • North Carolina

  • Households that own their home

    47%

    28 points below the county

    20 points below North Carolina

    • Morehead City
    • Carteret
    • North Carolina

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

Market now, with Zillow data

Zillow data
Typical home value
$413,025
1.4% more than 12 months ago
Typical rent
$1,858 a month
4.2% more than 12 months ago

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

Morehead City is in Carteret 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 Carteret County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Morehead City apart

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

  1. 47% of households in Morehead City own their home, against 75% in Carteret County.

  2. Nearby, in Half Moon, the typical home value is $182,500: 49% less than in Morehead City ($357,400).

  3. The typical household income in Morehead City is $56,233, 22% less than in Carteret County as a whole ($72,322).

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

The homes here

Housing in Morehead City

What homes there are in Morehead 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

The detached house is still the most common home in Morehead City, but it weighs less than in Carteret County: 50% against 61%.

Year built

In Morehead City, half of the homes were built before 1984; in Carteret County, before 1989.

Homes in Morehead City are smaller: 57% have 3 bedrooms or more; in Carteret County, 70%.

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

About 79% of owner-occupied homes in Morehead City are worth less than the FHA loan limit for Carteret County ($541,287).

Monthly rent with utilities

With a mortgage

$1,932 a month

Carteret County: $1,779 a month

Without a mortgage

$621 a month

Carteret County: $538 a month

Owners with a mortgage

57%

Carteret County: 56%

Owning costs more in Morehead City: with a mortgage, the typical cost is $1,932 a month; in Carteret County, $1,779. Without one, $621.

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 Morehead City rose 59% since 2015–2019, about the same as in Carteret County (56%).

Since 2015–2019, the typical rent in Morehead City rose 31%, more than in Carteret County (23%).

To compare: typical income in Morehead City rose 31%; the home, +59%; the rent, +31%.

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

MeasureMorehead CityCarteret CountyNorth CarolinaUnited States
Rental vacancy Unreliable estimateUnreliable estimate7.1%5.5%
Homeowner vacancy Unreliable estimate1.2%1.3%0.9%
More than one person per room Unreliable estimate0.8%2.2%3.4%
People per household 1.862.132.442.53
Drive alone 82%78%72%69%
Carpool Unreliable estimate6%9%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike Unreliable estimate1%2%3%
Work from home 12%13%16%15%
Other means Unreliable estimate1%1%2%
Typical commute 10 to 19 minutesUnreliable estimate20 to 29 minutes20 to 29 minutes

Households in Morehead City are smaller: 1.86 people on average; in Carteret County, 2.13.

In Morehead City, 82% of workers drive alone to work; in Carteret County, 78%.

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 Morehead City?

A typical home costs more than the typical income allows

We start with a typical home in Morehead City, worth $357,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 60% of the typical household income in Morehead City, which is $56,233 a year. For that payment to be 28% of income, a household would need to earn about $121,040 a year.

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

Your numbers

Local data
$

Starts at the typical home value in Morehead 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 $12,509 (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

$2,824

at 7.18% · 30 years

Loan amount
$350,927
Total interest
$504,901
Paid off in
November 2056

Includes $6,036 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,312 a month

  • Tight

    $1,312 to $1,687 a month

  • Hard

    more than $1,687 a month

    Your payment · 60%

Compared with the typical household income in Morehead City ($56,233 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,824
Principal & interest$2,377
Property tax$140
Home insurance$149
FHA mortgage insurance (MIP)$158

You need at least $12,509 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

Morehead City and Carteret County

Morehead City is in Carteret 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).

Morehead City's own numbers

Typical home value
$357,400
Typical monthly rent
$1,134
Typical yearly household income
$56,233
Households that own their home
47%
Effective property tax rate
0.47%

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

Numbers for all of Carteret County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,277
Price change over 5 years (FHFA)
+70%
Homes in a high flood-risk zone
28%

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 Carteret County.

Everything about Carteret County

Buying

Buying a home in Morehead City

A typical home in Morehead City is worth $357,400: 7% above the county and 24% above North Carolina. With the typical household income in Morehead City ($56,233 a year), a typical home costs 6.4 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.

  • Morehead City 6.4 years
  • Carteret 4.6 years
  • North Carolina 4.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Carteret County

According to FHFA’s house price index, home prices in Carteret County rose 112% in the 10 years through 2025.

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

Period County North Carolina U.S.
Last year (2025) +9.5% +2.5% +2.9%
5 years (2020–2025) +70% +60% +47%
10 years (2015–2025) +112% +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

Morehead City next to Carteret 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
  • Morehead City $357,400
  • Carteret $333,300
  • North Carolina $288,900
  • United States $332,700
Typical monthly rent
  • Morehead City $1,134
  • Carteret $1,108
  • North Carolina $1,228
  • United States $1,413
Typical yearly household income
  • Morehead City $56,233
  • Carteret $72,322
  • North Carolina $72,388
  • United States $80,734
See the full table
Morehead City next to Carteret County and North Carolina
Measure Morehead City Carteret County North Carolina U.S.
Typical home value $357,400 $333,300 $288,900 $332,700
Typical monthly rent $1,134 $1,108 $1,228 $1,413
Typical yearly household income $56,233 $72,322 $72,388 $80,734
Households that own their home 47% 75% 67% 65%
Typical yearly property tax $1,678 $1,423 $1,896 $3,119
Effective property tax rate 0.47% 0.43% 0.66% 0.94%
Renters with high rent for their income 58% 57% 49% 51%

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

For a typical $357,400 home in Morehead City, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Morehead City's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,824a month

    Least cash to close
    Down payment
    $12,509
    Cash to close
    $23,231
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $158

  • Conventional, 5% down $2,759a month

    Down payment
    $17,870
    Cash to close
    $28,592
    Rate
    7.18%
    Mortgage insurance
    PMI · $170

  • Conventional, 20% down, no PMI $2,226a month

    Down payment
    $71,480
    Cash to close
    $82,202
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,556a month

    Down payment
    $53,610
    Cash to close
    $64,332
    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 Morehead City and for Carteret County.

Property tax

Effective rate in Morehead City

0.47%of the home’s value each year

$1,678 a year for the typical owner in Morehead City.

  • Morehead City 0.47%
  • Carteret 0.43%
  • 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 Carteret County

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

Homes in the high-risk zone
28%
12,132
Of those, with NFIP insurance
52%
County North Carolina U.S.
Homes in the high-risk zone 28% 2.8% 3.5%
Of those, with NFIP insurance 52% 53% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Morehead City

Typical rent in Morehead City is $1,134 a month: 2% above the county. In Morehead City, 58% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Carteret County, by unit size. To pay the 2-bedroom one ($1,277 a month) without spending more than 30% of your income, you would need to earn $24.56 an hour working full time.

HUD fair market rent for all of Carteret 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 $970 $18.65 $38,800
1 bedroom $976 $18.77 $39,040
2 bedrooms $1,277 $24.56 $51,080
3 bedrooms $1,607 $30.90 $64,280
4 bedrooms $2,132 $41.00 $85,280

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 Morehead City

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Morehead City is in ZIP code 28557.

For 2 bedrooms it is $1,350: $73 more than the fair market rent for Carteret County ($1,277).

  • 28557 $1,350$1,700

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

HUD lists 10 buildings with rents for lower incomes in Morehead City. These are the largest.

  • Kings Terrace & Macon Court 2112 Bay St, Morehead City 28557 127 low-income homes · Run by Eastern Carolina Regional Housing Authority · Average payment: $481 a month · Average wait: 37 months · Homes at several sites (919) 735-0435
  • Ekklesia 405 Barbour Rd, Morehead City 28557 80 low-income homes · For older adults (252) 726-0076
  • Crystal Coast Apartments 224-234 Yaupin Terrace, Morehead City 28557 50 homes, 47 low-income · For families (252) 726-8042
  • Camellia Court Apts 4609 Country Club Rd, Morehead City 28557 44 low-income homes · 1 bd: 36 · 2 bd: 8 · In service since 1998 · For older adults
  • Edenbridge 501 Brook St, Morehead City 28557 40 low-income homes · 1 bd: 26 · 2 bd: 14 · In service since 2007 · For older adults, people with disabilities, people experiencing homelessness

See all 23 buildings in Carteret County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Morehead 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 Carteret County. The nearest ones are below; many serve by phone or online.

A man leans over the armchair to help a teenage girl with her book.

HUD counseling is free or low-cost

Assistance programs in Morehead City

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

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

  • City of Jacksonville

    815 New Bridge St, Jacksonville · 39 miles away

    • Budget and financial counseling
    • Budget and credit workshops
    • and 3 more
    (910) 938-6551

  • Cape Fear Regional CDC

    500 Compton St, Wilmington · 76 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 4 more
    (910) 762-7555

  • City of Wilmington

    929 N Front St, Wilmington · 77 miles away · Spanish

    • Mortgage delinquency and default
    • Fair housing pre-purchase workshops
    • and 5 more
    (910) 341-7836

All counseling agencies in North Carolina

Help in Spanish near Morehead City

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 Morehead City

In HUD’s record, no housing authority with an office in Carteret County is named for Morehead City or Carteret County.

2 other authorities have an office in Carteret County: see the list Source: HUD

Cities

Nearby cities

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

Everything about Carteret County Housing in North Carolina

Neighboring counties

If Carteret 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 Morehead City.

All guides
A mother and her daughters smile together on a mountain trail with a snowy peak behind them.

Questions

Housing questions about Morehead City

Short answers with the numbers for Morehead City and all of Carteret 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 Morehead City?

The typical home value in Morehead City is $357,400, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Carteret County it is $333,300.

How much does it cost to rent in Morehead City?

Typical rent in Morehead City is $1,134 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Carteret County is $1,277.

What is the FHA loan limit in Morehead City?

Morehead City uses the FHA limit for all of Carteret 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 Morehead City?

The typical homeowner in Morehead City pays $1,678 a year, according to the U.S. Census Bureau. That is 0.47% of the home’s value; in Carteret County, the rate is 0.43%.

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

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