Federal Housing Finance Agency Home Price Index (FHFA HPI):
Hickory-Lenoir-Morganton, NC is a Federal Housing Finance Agency home price index that comprises counties including Caldwell County, and Burke County. Its most recent index value is 244.01.
The Hickory-Lenoir-Morganton, NC, Federal Housing Finance Agency (FHFA) House Price Index (HPI) is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same properties. The index covers single-family homes with mortgages owned or securitized by Fannie Mae or Freddie Mac.
As of the fourth quarter of 2019, the HPI for Hickory-Lenoir-Morganton was 176.7, down 0.4 percent from the third quarter and up 1.8 percent from a year earlier. The HPI for North Carolina was 172.3 in the fourth quarter of 2019, down 0.2 percent from the previous quarter and up 2.1 percent from a year earlier (Federal Housing Finance Agency).
Home equity is calculated as the difference between a property's market value and the outstanding balance of all liens on the property; it therefore represents the portion of a property's value that would be realized in a sale after payment of all debts secured by liens against it. In other words, home equity is equal to a property's market value minus any mortgage debt owed against it (Investopedia).
In Hickory-Lenoir-Morganton, NC, as of December 31st, 2019, median home values were $142,100 while median mortgage debt outstanding was $111,700 resulting in home equity of $30,400 or 21% (NeighborhoodScout). Home prices have increased 1.8% over last year while mortgage debt has remained relatively unchanged over that same time period leading to an increase in home equity levels for many homeowners in Hickory-Lenoir-Morganton area during 2019.
Price Index: Hickory-Lenoir-Morganton, NC
Name | State | Metromicro | Fips State Code | Fips County Code | Region Type | Population |
---|---|---|---|---|---|---|
Catawba County | North Carolina | Metropolitan | 37 | 035 | Central | 166,248 |
Burke County | North Carolina | Metropolitan | 37 | 023 | Central | 80,956 |
Caldwell County | North Carolina | Metropolitan | 37 | 027 | Central | 80,262 |
Alexander County | North Carolina | Metropolitan | 37 | 003 | Outlying | 37,025 |
Name | State | Population |
---|---|---|
Hickory | North Carolina | 80,303 |
Morganton | North Carolina | 55,009 |
Lenoir | North Carolina | 46,232 |
Newton | North Carolina | 27,688 |
Taylorsville | North Carolina | 26,448 |
Conover | North Carolina | 23,353 |
Granite Falls | North Carolina | 20,262 |
Connelly Springs | North Carolina | 12,314 |
Hudson | North Carolina | 12,277 |
Maiden | North Carolina | 10,955 |
Zipcode | Population | Density | Timezone | Latitude | Longitude | City | County | State |
---|---|---|---|---|---|---|---|---|
28655 | 55,009 | 66.8 | America/New_York | 35.75713 | -81.74413 | Morganton | Burke County | North Carolina |
28612 | 12,314 | 56.9 | America/New_York | 35.66086 | -81.54008 | Connelly Springs | Burke County | North Carolina |
28690 | 9,189 | 164.3 | America/New_York | 35.73296 | -81.57401 | Valdese | Burke County | North Carolina |
28637 | 1,692 | 227.4 | America/New_York | 35.71798 | -81.41929 | Hildebran | Burke County | North Carolina |
28619 | 1,593 | 515.4 | America/New_York | 35.75855 | -81.60243 | Drexel | Burke County | North Carolina |
28671 | 545 | 283.8 | America/New_York | 35.75273 | -81.52787 | Rutherford College | Burke County | North Carolina |
28628 | 476 | 356.6 | America/New_York | 35.72629 | -81.78507 | Glen Alpine | Burke County | North Carolina |
28666 | 138 | 114.6 | America/New_York | 35.72506 | -81.47052 | Icard | Burke County | North Carolina |
28667 | 360 | 231.3 | America/New_York | 35.77216 | -81.42794 | Rhodhiss | Caldwell County | North Carolina |
28611 | 1,131 | 5.9 | America/New_York | 36.01102 | -81.73527 | Collettsville | Caldwell County | North Carolina |