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City Report · NC

Morganton

Pop. 17,646·111th most expensive in North Carolina·One of the most affordable rental markets in the US
Median rent (all units)
$1,341/mo
Year-over-Year
Stable
Month-over-Month
-2.5%
vs US Median
-$624
Falling (Monthly)
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Most AffordableMost Expensive
Morganton · $1,341
More affordable than 85% of US cities · National median $1,965/mo
Affordability
31% of income
MODERATE
0%30% benchmark60%+

At $1,341/mo, rent takes about 31% of the local median household income, slightly above the 30% benchmark.

Income to afford
$54,000/yr
Local median income
$51,355/yr
Based on the 30%-of-income rule using Morganton's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,290
1 BR
$1,350
2 BR
$1,520
3 BR
$1,950
4 BR+
$2,570
Research median
$1,520/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$16,092/yr
At $1,341/mo median
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (down 0.0% YoY), so renters have negotiating leverage.
Based on rent-price momentum (+0.0% YoY, -2.5% MoM), not inventory.
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Demographics

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.

Population
17,646
Median income
$51,355
Median age
37.8
Renters
45.3%
Age distribution
24.4%
23.8%
20.1%
22%
Under 1824.4%
18–3423.8%
35–5420.1%
55–649.8%
65+22%
Gender
48.8%
51.2%
Male48.8%
Female51.2%
Race & ethnicity
60.4%
14.8%
22.6%
White60.4%
Black14.8%
Hispanic22.6%
Asian1.3%
Other0.9%
Education (25+)
18.8%
27.4%
27.7%
26.1%
No HS diploma18.8%
HS diploma27.4%
Some college27.7%
Bachelor's+26.1%
Housing tenure
54.7%
45.3%
Owner54.7%
Renter45.3%

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

2021 vs 2026

How Morganton, NC has changed in 5 years

Income
$43,103 → $51,355
up 19.1%
Population
17,389 → 17,646
up 1.5%
Renter share
48.1% → 45.3%
-2.8 pts
Bachelor's+
24% → 26.1%
+2.1 pts

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.

Community

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Salary vs rent

Can you afford rent in Morganton on your salary?

At $1,341/mo, how Morganton rent compares to typical pay (30% rule).

By apartment size

Morganton rent by bedroom count

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

Local insights

Tips for renters in Morganton

About renting in Morganton, NC

Last updated: July 20, 2026

The median rent in Morganton is $1,341/mo as of July 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 31% 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.

FAQ

Frequently asked questions

Is Morganton an affordable city for renters?

Morganton is considered moderate for renters. At $1,341/mo, rent takes approximately 31% of the local median household income ($51,355/yr). The standard benchmark is 30%. Morganton slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in Morganton?

To keep rent at or below 30% of gross income, you would need to earn at least $54,000/year (~$26/hour full-time) to afford the median rent of $1,341/mo in Morganton. The local median household income is $51,355/yr, meaning the typical Morganton household falls short of that threshold.

Is rent going up or down in Morganton?

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

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

Morganton is one of the more affordable cities in North Carolina for rent, ranking #111 out of 126 tracked cities at $1,341/mo.

Which nearby cities are cheaper to rent in than Morganton?

Several nearby cities have lower median rents than Morganton ($1,341/mo): Cherryville ($1,100/mo), Lenoir ($1,218/mo), Marion ($1,310/mo).

What percentage of Morganton residents rent vs. own?

According to Census data, approximately 45.3% of Morganton households are renters, while 54.7% are owner-occupied. Morganton leans toward homeownership, which can mean a smaller rental inventory.

How does Morganton rent compare to the national average?

Morganton's median rent of $1,341/mo is $624 (32%) below the US national median of $1,965/mo. Within North Carolina, it ranks #111 out of 126 tracked cities.
Income Affordability
31%
MODERATE

At $1,341/mo, rent takes ~31% of Morganton's median household income ($51,355/yr). The standard benchmark is 30%.

Morganton 31%Benchmark 30%
State income tax4.5%
Run the Morganton affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Morganton, NC

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