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City Report · NC

Cherryville

Pop. 6,226·123rd most expensive in North Carolina·One of the most affordable rental markets in the US
Median rent (all units)
$1,100/mo
Year-over-Year
Stable
Month-over-Month
-12.0%
vs US Median
-$862
Falling (Monthly)
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Most AffordableMost Expensive
Cherryville · $1,100
More affordable than 95% of US cities · National median $1,962/mo
Affordability
19% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,100/mo, rent takes about 19% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$44,000/yr
Local median income
$70,625/yr
Based on the 30%-of-income rule using Cherryville's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$940
1 BR
$980
2 BR
$1,110
3 BR
$1,430
4 BR+
$1,720
Fair Market Rent (HUD)
$1,110/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,100 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$13,200/yr
At $1,100/mo median
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 0.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (+0.0% YoY, -12.0% MoM), not inventory.
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Demographics

Who lives here

Cherryville, NC is majority owner-occupied, has a large share of families with children, 24.8% of residents hold a bachelor's degree or higher.

Population
6,226
Median income
$70,625
Median age
38
Renters
30.3%
Age distribution
25.2%
19.1%
25.3%
20%
Under 1825.2%
18–3419.1%
35–5425.3%
55–6410.3%
65+20%
Gender
48.8%
51.2%
Male48.8%
Female51.2%
Race & ethnicity
85.6%
White85.6%
Black8.7%
Hispanic5.6%
Education (25+)
12.4%
31.7%
31.1%
24.8%
No HS diploma12.4%
HS diploma31.7%
Some college31.1%
Bachelor's+24.8%
Housing tenure
69.7%
30.3%
Owner69.7%
Renter30.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Cherryville, NC has changed in 5 years

Income
$51,938 → $70,625
up 36.0%
Population
6,044 → 6,226
up 3.0%
Renter share
35.3% → 30.3%
-5.0 pts
Bachelor's+
26.5% → 24.8%
-1.7 pts

Median household income rose from $51,938 to $70,625 between 2021 and 2024, a 36.0% shift. The population has grown by 3.0% since 2021, moving from about 6,044 residents to roughly 6,226. Renters now make up 30.3% of households, compared with 35.3% five years ago.

Community

Discussions about Cherryville

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View Cherryville rent history (2015–2026) →
Salary vs rent

Can you afford rent in Cherryville on your salary?

At $1,100/mo, how Cherryville rent compares to typical pay (30% rule).

By apartment size

Cherryville rent by bedroom count

Median rent for each apartment size in Cherryville. Click any size for full breakdown.

Local insights

Tips for renters in Cherryville

About renting in Cherryville, NC

Last updated: July 20, 2026

The median rent in Cherryville is $1,100/mo as of July 2026. A studio apartment averages $940/mo while a 2-bedroom runs $1,110/mo. One-bedroom apartments average $980/mo and 3-bedroom units go for $1,430/mo.

At 19% of local median household income ($70,625/yr), Cherryville ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Cherryville an affordable city for renters?

Cherryville is considered very affordable for renters. At $1,100/mo, rent takes approximately 19% of the local median household income ($70,625/yr). The standard benchmark is 30%. Cherryville falls comfortably within that range.

How much income do you need to rent in Cherryville?

To keep rent at or below 30% of gross income, you would need to earn at least $44,000/year (~$21/hour full-time) to afford the median rent of $1,100/mo in Cherryville. The local median household income is $70,625/yr, meaning the typical Cherryville household meets that threshold.

Is rent going up or down in Cherryville?

Rent in Cherryville has been relatively stable over the past year, with a 0.0% change year over year as of July 2026.

How does Cherryville rent compare to other cities in North Carolina?

Cherryville is one of the more affordable cities in North Carolina for rent, ranking #123 out of 126 tracked cities at $1,100/mo.

What percentage of Cherryville residents rent vs. own?

According to Census data, approximately 30.3% of Cherryville households are renters, while 69.7% are owner-occupied. Cherryville leans toward homeownership, which can mean a smaller rental inventory.

How does Cherryville rent compare to the national average?

Cherryville's median rent of $1,100/mo is $862 (44%) below the US national median of $1,962/mo. Within North Carolina, it ranks #123 out of 126 tracked cities.
Income Affordability
19%
VERY AFFORDABLE

At $1,100/mo, rent takes ~19% of Cherryville's median household income ($70,625/yr). The standard benchmark is 30%.

Cherryville 19%Benchmark 30%
State income tax4.5%
Run the Cherryville affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Cherryville, NC

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