Rent, population, and median household income are important factors to consider for a 1031 exchange in Hickory-Morganton due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Hickory-Morganton, North Carolina is a part of the Hickory-Lenoir-Morganton, NC metropolitan area, and contains 5 zip codes: 28602, 28680, 28601, 28655, and 28603.
Hickory-Morganton Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Hickory-Morganton, NC metropolitan area was $724, which is 12.07% lower than 2014 average rent. This represents a compounded annual growth rate of 2.31%. 2019 vacancy in Hickory-Morganton, NC was 2.80%.
The total population of the city of Hickory-Morganton, NC has grown 2.29% since 2010. As of 2018, the population was 40,925. The median household income of the Hickory-Morganton was $46,390, which is 23.06% lower than the national average.
- metropolitan area Hickory-Lenoir-Morganton, NC
- avg rent $724
- rent growth 12.07%
- vacancy 2.80%
- median income $46,390
- population (2018) 40,925
- population growth 2.29%
- vs. nat'l avg 23.06%
- zip codes 28601 28602 28603 28655 28680