Location: Hickory-Lenoir-Morganton, NC | Metro: Hickory-Lenoir-Morganton, NC MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $240,608 | 0.42% | F |
| 3BR | $1,240 | $319,164 | 0.39% | F |
| 4BR | $1,510 | $444,214 | 0.34% | F |
U.S. Census Bureau data (2024)
The market in Taylorsville, NC, represented by ZIP code 28681, presents a dynamic environment characterized by specific housing metrics that offer insight into its current state and underlying pressures. The Fair Market Rent (FMR) for the area is set at $950 for fiscal year 2024, indicating the government's benchmark for rental affordability. However, the actual market rent as per the Census ACS stands at $736, suggesting that renters are paying below the FMR, which can be an indicator of a competitive rental market.
The 0.2% price-cut share among homes for sale is notably low, implying that sellers are generally able to achieve their asking prices without significant reductions. This figure contrasts with a higher percentage seen in markets where supply significantly outpaces demand, leading to more aggressive pricing strategies by sellers. In Taylorsville, it suggests a balanced or slightly favoring demand side of the market.
With a median home value of $263,503, the housing stock in Taylorsville is relatively affordable compared to many other areas across the country. This makes it attractive to potential buyers who are looking for entry-level homes or those seeking to relocate to a more cost-effective location.
The 20.6% renter share is a critical metric for understanding long-term housing pressure. A higher proportion of renters often signifies underlying economic conditions where homeownership is less accessible or desirable, potentially due to financial constraints or transient populations. This could indicate a persistent demand for rental properties, suggesting that the rental market is likely to remain robust over time.
In summary, Taylorsville, NC, appears to be a market where demand is steady, if not slightly exceeding supply, especially in the rental sector. The low price-cut share among homes for sale and the relatively low market rent suggest a competitive environment where both buyers and renters have options but are also under some pressure to secure their preferred housing choices. The median home value indicates that the area remains accessible to a broad range of buyers, contributing to its appeal and ongoing activity in the housing market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.