Morganton, NC

Very Low · 65

North Carolina · Population 17,541 · Updated March 2026

$909
Median Rent / Month
$49,434
Median Income
$208,300
Median Home Value
$932
Owner Costs / Month

Affordability

How far your income goes in Morganton

22.1%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in North Carolina

State-level tax rates that affect your costs

4.5%
Income Tax (Top Rate)
4.75%
Sales Tax
0.8%
Property Tax Rate

Estimated Annual Costs

$10,908
Annual Rent
$2,225
State Income Tax
$1,666
Property Tax (est.)

Cost of Living Overview

Morganton is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 65 (where 100 equals the national median), Morganton residents can expect to pay median rent of $909/month while earning a median household income of $49,434/year.

The median home value in Morganton, NC is $208,300, with typical monthly owner costs around $932 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.1% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

North Carolina has a moderate income tax rate of 4.5%. Combined with a 4.75% sales tax rate and 0.8% effective property tax rate, the overall tax environment is a factor in the total cost of living in Morganton.

Frequently Asked Questions

Common questions about living costs in Morganton

What is the cost of living in Morganton, NC?
The cost of living index in Morganton, NC is 65 (US average = 100). Median monthly rent is $909, median household income is $49,434/year, and the median home value is $208,300.
Is Morganton, NC affordable?
Yes, Morganton is more affordable than the national average with a cost index of 65. The rent-to-income ratio is 22.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Morganton, NC?
The median gross rent in Morganton, NC is $909 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,908.
What is the median household income in Morganton?
The median household income in Morganton, NC is $49,434 per year. This compares to the national median of approximately $80,000.
What are the taxes like in North Carolina?
North Carolina has a top income tax rate of 4.5%, a sales tax of 4.75%, and an effective property tax rate of 0.8%.