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ZIP Code · NC

ZIP 28031

Pop. 31,733·Mecklenburg County·93rd most expensive ZIP in North Carolina
Median rent (all units)
$1,722/mo
Year-over-Year
-0.3%
Month-over-Month
+0.6%
vs US Median
-$243
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 28031 · $1,722
More affordable than 57% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,650
1 BR
$1,720
2 BR
$1,890
3 BR
$2,330
4 BR+
$2,960
Research median
$1,890/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
$20,664/yr
At $1,722/mo median
Location
StateNC
CountyMecklenburg County
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (-0.3% YoY, +0.6% MoM), not inventory.
Demographics

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.

Population
31,733
Median income
$113,368
Median age
44.6
Renters
28.4%
Age distribution
22%
15.8%
28.1%
13.4%
20.7%
Under 1822%
18–3415.8%
35–5428.1%
55–6413.4%
65+20.7%
Gender
46.7%
53.3%
Male46.7%
Female53.3%
Race & ethnicity
82.7%
White82.7%
Black3.6%
Hispanic5.5%
Asian3.3%
Other4.9%
Education (25+)
24.3%
62.4%
No HS diploma2.1%
HS diploma11.2%
Some college24.3%
Bachelor's+62.4%
Housing tenure
71.6%
28.4%
Owner71.6%
Renter28.4%

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

2021 vs 2026

How ZIP 28031 in Cornelius, NC has changed in 5 years

Rent
$1,379 → $1,722
up 24.9%
Income
$94,883 → $113,368
up 19.5%
Population
29,698 → 31,733
up 6.9%
Renter share
28.5% → 28.4%
-0.1 pts
Bachelor's+
55.5% → 62.4%
+6.9 pts

The median rent in ZIP 28031 in Cornelius, NC stood at $1,379 in 2021 and currently runs about $1,722, reflecting a 24.9% 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.

Community

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Local insights

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About renting in ZIP 28031

Last updated: July 20, 2026

ZIP code 28031 covers Cornelius, NC. The median rent here is $1,722/mo as of July 2026. A 1-bedroom rents for a median of $1,720/mo. A 2-bedroom rents for a median of $1,890/mo.

At 18% of local median household income ($113,368/yr), ZIP 28031 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.3% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 28031?

As of July 20, 2026, the median monthly rent in ZIP 28031 (Cornelius, NC) is $1,722. This is based on aggregated data from public sources and community submissions.

How does ZIP 28031 rent compare to the US average?

ZIP 28031's median rent of $1,722/mo is $243 (12%) below the US national median of $1,965/mo.

How does ZIP 28031 compare to other ZIPs in North Carolina?

ZIP 28031 falls in the middle range for North Carolina, ranking #93 out of 227 ZIPs at $1,722/mo.

How much income do you need to rent in ZIP 28031?

To keep rent at or below 30% of gross income, you would need to earn at least $69,000/year (~$33/hour full-time) to afford the median rent of $1,722/mo in ZIP 28031. The local median household income is $113,368/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 28031?

Rent in ZIP 28031 has been relatively stable over the past year, with a 0.3% change year over year as of July 20, 2026.

Is ZIP 28031 an affordable place to rent?

ZIP 28031 is considered very affordable for renters. At $1,722/mo, rent takes approximately 18% of the local median household income ($113,368/yr). The standard benchmark is 30%. ZIP 28031 falls comfortably within that range.

What percentage of ZIP 28031 residents rent vs. own?

According to Census data, approximately 28.4% of ZIP 28031 households are renters, while 71.6% are owner-occupied. ZIP 28031 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 28031 compare to the rest of Cornelius?

ZIP 28031 is more affordable than Cornelius overall. At $1,722/mo, it's $56 below the Cornelius citywide median of $1,778/mo.

When was rent data for ZIP 28031 last updated?

Rent data for ZIP 28031 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
18%
VERY AFFORDABLE

At $1,722/mo, rent takes ~18% of ZIP 28031's median household income ($113,368/yr). The standard benchmark is 30%.

ZIP 28031 18%Benchmark 30%
State income tax4.5%
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Public schools near ZIP 28031 (Cornelius, NC)

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