ZIP 28031
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12-month history
Last updated: October 17, 2026
What the numbers show
December. Asking rents in ZIP 28031 usually run 1.5% below trend in December and 1.6% above it in July, about $54 a month apart at today's median. Based on 11 years of data.
Rent in ZIP 28031 is 0.6% below its high of $1,760 in July 2025, at $1,750 as of September 2026.
Rent in ZIP 28031 changed +0.9% over the year to September 2026. Across the 190 North Carolina ZIP codes Zillow tracks, the typical change was +2.6%.
From 2019 to 2024, rent in ZIP 28031 rose 39.8% while median household income rose 23.7% ($91,658 to $113,368). Rent outpaced income.
Rent in ZIP 28031 is 36.6% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 2 months in a row, and rose in 5 of the last 12 months.
30% of the median household income ($113,368) is $2,834 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,330); a 4-bedroom is $2,960.
From Zillow's monthly rent index (ZORI) for ZIP 28031. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Who lives here
ZIP 28031 (Cornelius, NC) is majority owner-occupied, has a large retiree population, has a median income above the national average, 62.4% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 28031 in Cornelius, NC has changed in 5 years
The median rent in ZIP 28031 in Cornelius, NC stood at $1,398 in 2021 and currently runs about $1,750, reflecting a 25.2% increase over the period. On the earnings side, the typical household in ZIP 28031 in Cornelius, NC now reports about $113,368, up from $94,883 in 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 6.9% since 2021, moving from about 29,698 residents to roughly 31,733. College-educated residents now make up 62.4% of adults here, versus 55.5% in 2021. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 28031 in Cornelius, NC reflects that arc in its own way.
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Tips for renters in ZIP 28031
Last updated: October 17, 2026
ZIP code 28031 covers Cornelius, NC. The median rent here is $1,750/mo as of October 2026. A 1-bedroom rents for a median of $1,720/mo. A 2-bedroom rents for a median of $1,890/mo.
At 19% of local median household income ($113,368/yr), ZIP 28031 ranks as affordable compared to the national benchmark of 30%. Rents have increased 0.9% over the past year.
Frequently asked questions
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How does ZIP 28031 compare to other ZIPs in North Carolina?
How does ZIP 28031 compare to the rest of Cornelius?
At $1,750/mo, rent takes ~19% of ZIP 28031's median household income ($113,368/yr). The standard benchmark is 30%.
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