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City · 17,646 residents · Burke County, North Carolina

Morganton , North Carolina

In Morganton, a typical home is worth $221,700 and typical rent is $944 a month. Compared with all of Burke County, the typical home value is 20% higher, typical household income is 12% lower, and the share of households that own their home is 20 points lower.

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  • Typical home value

    $221,700

    20% above the county

    23% below North Carolina

    • Morganton
    • Burke
    • North Carolina

  • Typical rent

    $944a month

    7% above the county

    23% below North Carolina

    • Morganton
    • Burke
    • North Carolina

  • Typical household income

    $51,355a year

    12% below the county

    29% below North Carolina

    • Morganton
    • Burke
    • North Carolina

  • Households that own their home

    55%

    20 points below the county

    12 points below North Carolina

    • Morganton
    • Burke
    • North Carolina

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

Market now, with Zillow data

Zillow data
Typical home value
$258,145
1.1% more than 12 months ago
Typical rent
$1,436 a month

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

Morganton is in Burke 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 Burke County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Morganton apart

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

  1. 55% of households in Morganton own their home, against 75% in Burke County.

  2. Nearby, in Lenoir, the typical rent is $664: 30% less than in Morganton ($944).

  3. Nearby, in Long View, the typical home value is $157,300: 29% less than in Morganton ($221,700).

  4. The typical home in Morganton is worth $221,700, 20% more than in Burke County as a whole ($185,400).

  5. 8% of households in Morganton have no internet at home (13% in Burke County).

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

The homes here

Housing in Morganton

What homes there are in Morganton, 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 Morganton, 6 in 10 homes are single-family detached houses; in Burke County, 7.

Year built

In Morganton, half of the homes were built before 1976; in Burke County, before 1980.

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

With an FHA limit of $541,287, at least 94% of owner-occupied homes in Morganton sit below it: they are worth less than $500,000.

Monthly rent with utilities

HUD's 2-bedroom fair market rent (FMR) for Burke County is $1,147; about 68% of rents in Morganton are below it.

With a mortgage

$1,286 a month

Burke County: $1,220 a month

Without a mortgage

$533 a month

Burke County: $389 a month

Owners with a mortgage

60%

Burke County: 52%

In Morganton, 60% of owners have a mortgage, and their typical cost is $1,286 a month, against $1,220 in Burke County. Without one it drops to $533.

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 Morganton rose 39% since 2015–2019, less than in Burke County (54%).

Much as in Burke County, the typical rent in Morganton rose 38% since 2015–2019.

The typical household income in Morganton rose 22%: less than home values (+39%) and rent (+38%).

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

MeasureMorgantonBurke 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 5.5%2.4%2.2%3.4%
People per household 2.402.342.442.53
Drive alone 76%84%72%69%
Carpool 15%10%9%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike Unreliable estimateUnreliable estimate2%3%
Work from home 8%5%16%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute 10 to 19 minutesUnreliable estimate20 to 29 minutes20 to 29 minutes

More households are short on space in Morganton: 5.5% have more than one person per room; in Burke County, 2.4%.

A household in Morganton has 2.40 people on average, about the same as in Burke County (2.34).

In Morganton, 15% of workers share a car to get to work; in Burke 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 Morganton?

A typical home costs more than the typical income allows

We start with a typical home in Morganton, worth $221,700, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 42% of the typical household income in Morganton, which is $51,355 a year. For that payment to be 28% of income, a household would need to earn about $77,379 a year.

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

Your numbers

Local data
$

Starts at the typical home value in Morganton. 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 $7,760 (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

$1,806

at 7.18% · 30 years

Loan amount
$217,684
Total interest
$313,196
Paid off in
November 2056

Includes $3,744 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,198 a month

  • Tight

    $1,198 to $1,541 a month

  • Hard

    more than $1,541 a month

    Your payment · 42%

Compared with the typical household income in Morganton ($51,355 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,806
Principal & interest$1,475
Property tax$140
Home insurance$92
FHA mortgage insurance (MIP)$98

You need at least $7,760 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

Morganton and Burke County

Morganton is in Burke 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).

Morganton's own numbers

Typical home value
$221,700
Typical monthly rent
$944
Typical yearly household income
$51,355
Households that own their home
55%
Effective property tax rate
0.76%

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

Numbers for all of Burke County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,147
Price change over 5 years (FHFA)
+60%
Homes in a high flood-risk zone
0.5%

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 Burke County.

Everything about Burke County

Buying

Buying a home in Morganton

A typical home in Morganton is worth $221,700: 20% above the county and 23% below North Carolina. With the typical household income in Morganton ($51,355 a year), a typical home costs 4.3 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.

  • Morganton 4.3 years
  • Burke 3.2 years
  • North Carolina 4.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Burke County

According to FHFA’s house price index, home prices in Burke County rose 104% in the 10 years through 2025.

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

Period County North Carolina U.S.
Last year (2025) +2.5% +2.5% +2.9%
5 years (2020–2025) +60% +60% +47%
10 years (2015–2025) +104% +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

Morganton next to Burke 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
  • Morganton $221,700
  • Burke $185,400
  • North Carolina $288,900
  • United States $332,700
Typical monthly rent
  • Morganton $944
  • Burke $884
  • North Carolina $1,228
  • United States $1,413
Typical yearly household income
  • Morganton $51,355
  • Burke $58,592
  • North Carolina $72,388
  • United States $80,734
See the full table
Morganton next to Burke County and North Carolina
Measure Morganton Burke County North Carolina U.S.
Typical home value $221,700 $185,400 $288,900 $332,700
Typical monthly rent $944 $884 $1,228 $1,413
Typical yearly household income $51,355 $58,592 $72,388 $80,734
Households that own their home 55% 75% 67% 65%
Typical yearly property tax $1,689 $1,253 $1,896 $3,119
Effective property tax rate 0.76% 0.68% 0.66% 0.94%
Renters with high rent for their income 48% 37% 49% 51%

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

For a typical $221,700 home in Morganton, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Morganton's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,806a month

    Least cash to close
    Down payment
    $7,760
    Cash to close
    $14,411
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $98

  • Conventional, 5% down $1,765a month

    Down payment
    $11,085
    Cash to close
    $17,736
    Rate
    7.18%
    Mortgage insurance
    PMI · $105

  • Conventional, 20% down, no PMI $1,434a month

    Down payment
    $44,340
    Cash to close
    $50,991
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,639a month

    Down payment
    $33,255
    Cash to close
    $39,906
    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 Morganton and for Burke County.

Property tax

Effective rate in Morganton

0.76%of the home’s value each year

$1,689 a year for the typical owner in Morganton.

  • Morganton 0.76%
  • Burke 0.68%
  • 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 Burke County

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

Homes in the high-risk zone
0.5%
175
Of those, with NFIP insurance
40%
County North Carolina U.S.
Homes in the high-risk zone 0.5% 2.8% 3.5%
Of those, with NFIP insurance 40% 53% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Morganton

Typical rent in Morganton is $944 a month: 7% above the county. In Morganton, 48% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Burke County, by unit size. To pay the 2-bedroom one ($1,147 a month) without spending more than 30% of your income, you would need to earn $22.06 an hour working full time.

HUD fair market rent for all of Burke 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 $961 $18.48 $38,440
1 bedroom $965 $18.56 $38,600
2 bedrooms $1,147 $22.06 $45,880
3 bedrooms $1,399 $26.90 $55,960
4 bedrooms $1,707 $32.83 $68,280

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 Morganton

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Morganton is in ZIP code 28655.

For 2 bedrooms it is $1,660: $513 more than the fair market rent for Burke County ($1,147).

  • 28655 $1,660$2,010

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

HUD lists 17 buildings with rents for lower incomes in Morganton. These are the largest.

  • Providence Place 105A Carolina St, Morganton 28655 150 homes, 148 low-income · Run by Morganton Housing Authority · Average payment: $390 a month · Average wait: 11 months · Homes at several sites (828) 437-9101
  • Cascade Gardens 642 1st St, Morganton 28655 100 homes, 99 low-income · Run by Morganton Housing Authority · Average payment: $379 a month · Average wait: 8 months · Homes at several sites (828) 437-9101
  • Sienna 607 Valdese Ave, Morganton 28655 76 low-income homes · 1 bd: 12 · 2 bd: 40 · 3 bd: 24 · In service since 2016 · For families
  • Glenwood Hills 1300 Burkemont Ave, Morganton 28655 60 low-income homes · 1 bd: 12 · 2 bd: 36 · 3 bd: 12 · In service since 2011 · For families
  • Morgan Hills Apts 906 Jamestown Rd, Morganton 28655 48 low-income homes · 1 bd: 16 · 2 bd: 32 · In service since 2002 · For families

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

Free help

Help to buy or rent in Morganton

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 Burke County. The nearest ones are below; many serve by phone or online.

An older man and his daughter go over papers with a professional.

HUD counseling is free or low-cost

Assistance programs in Morganton

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

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

  • Western Piedmont Council of Governments

    1880 2nd Ave NW, Hickory · 18 miles away · Spanish

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

  • Cleveland County Community Development Corporation

    823 W Warren St, Shelby · 32 miles away

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

  • City of Gastonia

    150 S York St, Gastonia · 44 miles away

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

All counseling agencies in North Carolina

Help in Spanish near Morganton

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 Morganton

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

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

Cities

Nearby cities

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

Everything about Burke County Housing in North Carolina

Neighboring counties

If Burke 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 Morganton.

All guides
Three women of one family lean in together to stir the pan.

Questions

Housing questions about Morganton

Short answers with the numbers for Morganton and all of Burke 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 Morganton?

The typical home value in Morganton is $221,700, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Burke County it is $185,400.

How much does it cost to rent in Morganton?

Typical rent in Morganton is $944 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Burke County is $1,147.

What is the FHA loan limit in Morganton?

Morganton uses the FHA limit for all of Burke 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 Morganton?

The typical homeowner in Morganton pays $1,689 a year, according to the U.S. Census Bureau. That is 0.76% of the home’s value; in Burke County, the rate is 0.68%.

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

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