At $1,436/mo, rent takes about 34% 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 $1,436 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: October 17, 2026
What the numbers show
30% of the median household income ($51,355) is $1,284 a month. That is less than HUD's Fair Market Rent for a studio ($1,290).
From Zillow's monthly rent index (ZORI) for Morganton. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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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 $1,436/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: October 17, 2026
The median rent in Morganton is $1,436/mo as of October 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 34% 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
How much income do you need to rent in Morganton?
Is rent going up or down in Morganton?
How does Morganton rent compare to other cities in North Carolina?
Which nearby cities are cheaper to rent in than Morganton?
At $1,436/mo, rent takes ~34% 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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