ZIP Code · NC

ZIP 28655

Part of Morganton, NC

Pop. 55,100·Burke County·177th most expensive ZIP in North Carolina

Median rent (all units)

$1,444/mo

Year-over-Year

Stable

Month-over-Month

+0.7%

vs US Median

-$488

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 28655 · $1,444

More affordable than 77% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,170

1 BR

$1,220

2 BR

$1,370

3 BR

$1,760

4 BR+

$2,320

Research median

$1,370/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: October 17, 2026

From the history

What the numbers show

What a typical income covers

30% of the median household income ($57,713) is $1,443 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,370); a 3-bedroom is $1,760.

From Zillow's monthly rent index (ZORI) for ZIP 28655. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$17,328/yr

At $1,444/mo median

Location

CityMorganton

StateNC

CountyBurke 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 (+0.0% YoY, +0.7% MoM), not inventory.

Demographics

Who lives here

ZIP 28655 (Morganton, NC) is majority owner-occupied, has a large retiree population, has a median income below the national average, 22.2% of residents hold a bachelor's degree or higher.

Population

55,100

Median income

$57,713

Median age

44.3

Renters

27.3%

Age distribution

18.5%

20.6%

24.4%

14.6%

21.9%

Under 1818.5%

18–3420.6%

35–5424.4%

55–6414.6%

65+21.9%

Gender

51.5%

48.5%

Male51.5%

Female48.5%

Race & ethnicity

76.2%

White76.2%

Black8.7%

Hispanic11.3%

Asian2.6%

Other1.1%

Education (25+)

14.8%

31.2%

31.8%

22.2%

No HS diploma14.8%

HS diploma31.2%

Some college31.8%

Bachelor's+22.2%

Housing tenure

72.7%

27.3%

Owner72.7%

Renter27.3%

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

2021 vs 2026

How ZIP 28655 in Morganton, NC has changed in 5 years

Income

$45,725 → $57,713

up 26.2%

Population

55,752 → 55,100

down 1.2%

Renter share

27% → 27.3%

+0.3 pts

Bachelor's+

19.3% → 22.2%

+2.9 pts

Median age

43.2 → 44.3

+1.1 yrs

On the earnings side, the typical household in ZIP 28655 in Morganton, NC now reports about $57,713, up from $45,725 in 2021. The population has contracted by 1.2% since 2021, moving from about 55,752 residents to roughly 55,100. College-educated residents now make up 22.2% of adults here, versus 19.3% in 2021.

Community

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Local insights

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About renting in ZIP 28655

Last updated: October 17, 2026

ZIP code 28655 covers Morganton, NC. The median rent here is $1,444/mo as of October 2026. A 1-bedroom rents for a median of $1,220/mo. A 2-bedroom rents for a median of $1,370/mo.

At 30% of local median household income ($57,713/yr), ZIP 28655 ranks as moderate compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 28655?

To keep rent at or below 30% of gross income, you would need to earn at least $58,000/year (about $28/hour full-time) to afford the median rent of $1,444/mo in ZIP 28655. The local median household income is $57,713/yr, so the typical household falls short of that bar.