At $1,483/mo, rent takes about 35% of the local median household income, slightly above the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,483 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 →
12-month history
Last updated: August 17, 2026
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Who lives here
Morganton, NC is roughly split between renters and owners, has a large retiree population, has a median income below the national average, 26.1% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Morganton, NC has changed in 5 years
Local incomes tracked alongside that move, going from a median of $43,103 in 2021 to $51,355 more recently. The population has grown by 1.5% since 2021, moving from about 17,389 residents to roughly 17,646. Renters now make up 45.3% of households, compared with 48.1% five years ago. College-educated residents now make up 26.1% of adults here, versus 24% in 2021.
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Can you afford rent in Morganton on your salary?
At $1,483/mo, how Morganton rent compares to typical pay (30% rule).
Morganton rent by bedroom count
Median rent for each apartment size in Morganton. Click any size for full breakdown.
Tips for renters in Morganton
Last updated: August 17, 2026
The median rent in Morganton is $1,483/mo as of August 2026. A studio apartment averages $1,290/mo while a 2-bedroom runs $1,520/mo. One-bedroom apartments average $1,350/mo and 3-bedroom units go for $1,950/mo.
At 35% of local median household income ($51,355/yr), Morganton ranks as moderate compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.
Frequently asked questions
Is Morganton an affordable city for renters?
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Is rent going up or down in Morganton?
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What percentage of Morganton residents rent vs. own?
How does Morganton rent compare to the national average?
At $1,483/mo, rent takes ~35% of Morganton's median household income ($51,355/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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