How much is a home worth in ZIP code 28602?

The typical home in 28602 is worth $253,922, based on the Zillow Home Value Index.

Are home values rising in 28602?

Home values in 28602 are up 3.1% over the past year, and up 7.0% a year over five years.

What is the typical rent in 28602?

A typical home in 28602 rents for about $1,370 a month, a gross rental yield of 6.5%.

What is the property tax rate in 28602?

The effective property tax rate in 28602 is 0.6% — roughly $1,523 a year on a typical home.

ZIP code 28602 has a population of 31,113 and a median household income of $62,048.

HousingHandbookReference data

…

U.S. ZIP Code · NC28602

Catawba County · Hickory-Lenoir-Morganton, NC

Typical home value

$253,922^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +3.1%
5-year / yr: +7.0%
10-year / yr: +8.3%

Relative price

vs U.S.: -10.6%
vs metro: -2.0%
vs state: -10.8%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 28602 is worth $253,922 — 2.0% below the Hickory-Lenoir-Morganton, NC median. Over the past year, values have risen 3.1%. Homes here rent for a typical $1,370 a month — a 6.5% gross rental yield. The effective property tax rate is 0.6%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,370^[2]
Gross yield: 6.5%^[2]
Cap rate: 3.9%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.6%^[3]
Typical annual tax: $1,523^[3]

#Climate risk

FEMA National Risk Index ratings for Catawba County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Low^[4]
Riverine flood: Relatively Moderate
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: Relatively Low
Heat wave: Relatively Low
Hurricane: Relatively Low
Tornado: Relatively Moderate
Earthquake: Relatively Low
Winter weather: Relatively Moderate

#Who lives here

Population: 31,113^[3]
Median household income: $62,048^[3]

#Migration

Household moves in and out of Catawba County over a year, from IRS tax-return data.

Net migration: +761^[5]
Moved in: 4,965
Moved out: 4,204

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 5
Elementary: 3
Middle: 1
High: 1

Mountain View Elementary
Elementary · Grades K–6 · Catawba County Schools
713 students
Grandview Middle
Middle · Grades 6–8 · Hickory City Schools
393 students
Challenger Early College High
High · Grades 9–12 · Catawba County Schools
362 students
Longview Elementary
Elementary · Grades 3–5 · Hickory City Schools
313 students
Southwest Primary
Elementary · Grades PK–2 · Hickory City Schools
311 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield6.5%

Net yield (after ~40% expenses)3.9%

Annual rent$16,444

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,284

Loan principal$203,137

Down payment$50,784

Total interest paid$259,090

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.18

Monthly cost to own$1,623

Monthly rent$1,370

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 100th percentile^[1]
Rental yield: 75th percentile^[2]
Property tax: 50th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 28602?: The typical home in 28602 is worth $253,922, based on the Zillow Home Value Index.
Are home values rising in 28602?: Home values in 28602 are up 3.1% over the past year, and up 7.0% a year over five years.
What is the typical rent in 28602?: A typical home in 28602 rents for about $1,370 a month, a gross rental yield of 6.5%.
What is the property tax rate in 28602?: The effective property tax rate in 28602 is 0.6% — roughly $1,523 a year on a typical home.
Who lives in 28602?: ZIP code 28602 has a population of 31,113 and a median household income of $62,048.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

28638 vs 28602 →
Hudson, NC
Typical home
$252,606
Gross yield
—
28658 vs 28602 →
Newton, NC
Typical home
$256,439
Gross yield
7.3%
28630
Granite Falls, NC
Typical home
$259,053
Gross yield
—
28655
Morganton, NC
Typical home
$259,077
Gross yield
6.0%
28690
Valdese, NC
Typical home
$247,632
Gross yield
—
28681
Bethlehem CDP, NC
Typical home
$261,880
Gross yield
—

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#Jump to section

U.S. ZIP Code · NC28602

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