ZIP Code · NC

ZIP 28906

Part of Murphy, NC

Pop. 20,526·Cherokee County·137th most expensive ZIP in North Carolina

Median rent (all units)

$1,583/mo

Year-over-Year

Stable

Month-over-Month

-4.1%

vs US Median

-$349

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 28906 · $1,583

More affordable than 67% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$780

1 BR

$830

2 BR

$930

3 BR

$1,280

4 BR+

$1,480

Research median

$930/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: September 25, 2026

From the history

What the numbers show

What a typical income covers

30% of the median household income ($55,759) is $1,394 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,280); a 4-bedroom is $1,480.

From Zillow's monthly rent index (ZORI) for ZIP 28906. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$18,996/yr

At $1,583/mo median

Location

CityMurphy

StateNC

CountyCherokee County

Rent Market Meter

Strong Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are down 0.0% year-over-year. Push hard on price, concessions, and lease terms.

Based on rent-price momentum (+0.0% YoY, -4.1% MoM), not inventory.

Demographics

Who lives here

ZIP 28906 (Murphy, NC) is majority owner-occupied, has a large retiree population, has a median income below the national average, 25% of residents hold a bachelor's degree or higher.

Population

20,526

Median income

$55,759

Median age

56.5

Renters

15.8%

Age distribution

15.2%

13.2%

19.9%

16.9%

34.9%

Under 1815.2%

18–3413.2%

35–5419.9%

55–6416.9%

65+34.9%

Gender

49.9%

50.1%

Male49.9%

Female50.1%

Race & ethnicity

91.7%

White91.7%

Black1.5%

Hispanic3.5%

Other3.1%

Education (25+)

32.4%

35.6%

25%

No HS diploma7.1%

HS diploma32.4%

Some college35.6%

Bachelor's+25%

Housing tenure

84.2%

15.8%

Owner84.2%

Renter15.8%

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

2021 vs 2026

How ZIP 28906 in Murphy, NC has changed in 5 years

Income

$43,195 → $55,759

up 29.1%

Population

19,447 → 20,526

up 5.5%

Renter share

17.5% → 15.8%

-1.7 pts

Bachelor's+

22.7% → 25%

+2.3 pts

Median household income grew from $43,195 to $55,759 between 2021 and 2024, a 29.1% shift. Headcount in the area went from 19,447 to 20,526 between 2021 and 2024, a 5.5% change. About 15.8% of households rent today, against 17.5% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 22.7% to 25%.

Community

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Local insights

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About renting in ZIP 28906

Last updated: September 25, 2026

ZIP code 28906 covers Murphy, NC. The median rent here is $1,583/mo as of September 2026. A 1-bedroom rents for a median of $830/mo. A 2-bedroom rents for a median of $930/mo.

At 34% of local median household income ($55,759/yr), ZIP 28906 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 28906?

To keep rent at or below 30% of gross income, you would need to earn at least $63,000/year (about $30/hour full-time) to afford the median rent of $1,583/mo in ZIP 28906. The local median household income is $55,759/yr, so the typical household falls short of that bar.