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Cornelius town, NC

ZIP 28031 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Upper Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 28031

Median Home Value
$497,400
Median Rent
$1,475
Affordability Snapshot
$137,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$3,195/mo PITI).

15%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

4.3x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

28.1 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 28031 in Cornelius town, NC, a household would need roughly $137,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $3,195. That is about 18% above the local median household income ($115,746), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
72.1%+10% vs US avg
x
Vacancy Rate
7.8%-24% vs US avg
x
Broadband Access
96.2%+11% vs US avg
x
4+ Bedrooms
11.7%-21% vs US avg
x
Built Pre-1939
1.2%-91% vs US avg
x
Built Post-2014
2.0%-72% vs US avg
x
Rent Burden >30%
20.6%-59% vs US avg
x
Mortgage-Free
29.1%-24% vs US avg
x
$497,400
Home Value
$1,475
Rent
2001
Year Built
2016
Moved In

Residents have lived here since ~2016 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached61.8%
  • 1-unit attached9.7%
  • 2-9 units8.0%
  • 10+ units19.4%
  • Mobile home & other1.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$497,400
Median rent$1,475
Owner-occupied72.1%
Vacant7.8%
Price-to-income4.3x
Est. income to buy$137,000