The typical owner-occupied home in Morganton is worth about $263,800, 13% below the Georgia median of $303,300 and 21% below the national median of $332,700. Owners pay a median $591 a year in property taxes, about 0.22% of their home's value, lower than the Georgia rate of 0.77%. The median household earns $70,625 a year, so the median home costs 3.7 times the median income (3.9 times for Georgia). 77% of occupied homes here are lived in by their owners, and 64% of those owners still have a mortgage.
Morganton at a glance
| Morganton | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $263,800 | $303,300 | $332,700 |
| Median property tax paid per year | $591 | $2,341 | $3,119 |
| Property tax as a share of value | 0.22% | 0.77% | 0.94% |
| Median household income | $70,625 | $77,353 | $80,734 |
| Homes lived in by their owners | 77% | 66% | 65% |
| Owner homes with a mortgage | 64% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $1,233 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 13.1% | 20.0% | 21.0% |
| Median rent | $725 | $1,393 | $1,413 |
| Rent as a share of renters' income | 14.3% | 31.3% | 30.6% |
| Median year homes were built | 1971 | 1992 | 1980 |
| Vacant homes | 20.2% | 10.3% | 10.1% |
| Population | 241 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Morganton
At this week's average 30-year rate of 7.11%, buying the median Morganton home of $263,800 with 20% down costs about $1,578 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,017, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $67,627 for the 20%-down payment. That payment is 27% of the median Morganton household income of $70,625; at that income and 20% down, the 28% guideline points to a home of about $275,000.
The median rent here is $725 a month, so owning the median home costs about $853 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $52,760 |
|---|---|
| Loan amount | $211,040 |
| Principal and interest | $1,420 |
| Property taxes (0.22% a year) | $48 |
| Homeowners insurance (our estimate, 0.5% a year) | $110 |
| PMI | $0 |
| Total per month | $1,578 |
Change the numbers in the calculator
| Down payment | $9,233 |
|---|---|
| Loan amount | $259,022 |
| Principal and interest | $1,742 |
| Property taxes (0.22% a year) | $48 |
| Homeowners insurance (our estimate, 0.5% a year) | $110 |
| FHA mortgage insurance | $117 |
| Total per month | $2,017 |
Change the numbers in the calculator
Questions about home buying in Morganton
What is the median home value in Morganton?
About $263,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Morganton?
Homeowners pay a median $591 a year, which is about 0.22% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Morganton?
For the median home with 20% down at 7.11%, the payment is about $1,578 a month. Keeping that under 28% of gross income takes about $67,627 a year.
More about Morganton
- Mortgage Refinance in Morganton
- Debt Relief in Morganton
- Home Equity Loans in Morganton
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data