Rent-to-Own Homes in Morganton, NC: What You Need to Know
Morganton, North Carolina is a small city with a big heart. The cost of living is low and the job market is plentiful and stable. The weather here is beautiful year-round, and the neighborhoods are fantastic for those interested in a quiet life.
Cost of Living
Morganton is an inexpensive city to live in. Overall, it is 10% cheaper than the national average. Groceries, goods, services, and transportation are also cheaper. Housing is a total of 28% less expensive than the national average and 13% less expensive than the state average. The median home price is $160,000. The average rent is $486 per month.
There is a stable and growing job sector in Morganton, especially since the state’s overall economy is so strong. The major sectors here are Manufacturing, Health Care and Social Assistance, and Retail Trade. The major employers here are the Burke County School District, Carolinas HealthCare Blue Ridge, and Broughton Hospital. The average income here is $22,00 per year and the median household income is $35,140.
Weather and Climate
Morganton residents enjoy a medium continental climate, meaning summers are hot and humid, while winters are ice-cold. January is the coldest month with temperatures bottoming out around 31°F. July is the warmest month, with 88°F typically being the hottest it gets. Morganton sees many hurricanes between the months of June and November.
17,000 people call Morganton home. Located in Burke County, Morganton is a small, but friendly city. 66% of the population is white, 21% is Hispanic, 8% is African American, and 3% is Native American. 23% of all adult residents have a Bachelor’s degree, and 77% have their high school diploma!
Know Your Neighborhoods
Home to 4,000, Valdese is a quiet suburb popular among retirees. The median home value is $118,000 and the majority of residents own their homes. The median rent is just $597.
Glen Alpine is home to just under 2,000 residents. Many of these residents are young professionals interested in settling down and starting their adult lives. They enjoy a quiet rural town and top-rated public schools. The median home value is $114,300 and the majority of residents own their homes. The median rent is $717.
2,000 residents call Drexel home. Many of these residents are young professionals and retirees. These residents enjoy a rural environment and above-average schools. The median home value is $112,000 and just over half the people own their homes. The median rent is $672.