28602, Hickory, NC

Hickory, North Carolina is a small town located in the foothills of the Appalachian Mountains. The population of Hickory was just over 10,000 as of the 2010 census. Hickory is a bedroom community for Charlotte and is served by two interstate highways and several smaller state highways. Hickory has a strong agricultural economy with tobacco being the main crop, but it has also become known for its furniture manufacturing industry.

The 28602 zip code covers most of Hickory and includes both residential and commercial properties. The median home value in this zip code was $137,500 as of September 30, 2016 according to Zillow data. This is lower than the statewide median home value of $217,600 but higher than the national median home value of $127,200. The average list price per square foot for homes in this zip code was $104 which is lower than both the statewide average list price per square foot ($128) and the national average list price per square foot ($97). There are more expensive homes in this zip code compared to cheaper homes but there are also more affordable homes compared to other zip codes across North Carolina.

There are a number of factors that could contribute to why home values are lower in Hickory compared to other areas across North Carolina or nationally. One reason may be that Hickory does not have as many large corporations or major attractions that drive up housing prices elsewhere. Additionally, Hickory has seen an increase in retirees moving into the area which may lead to slower growth in demand for housing units and consequently lower home values. Another possible explanation could be that there are not as many new development projects underway in Hickory which could lead to slower appreciation rates over time due to limited supply relative to demand.

Despite these factors, it should be noted that there have been modest increases recently in both home values and List Price Per Square Foot (LPSF) within this particular zip code according to Zillow data from January 1st through September 30th 2017 (+2%). It's unclear what caused these modest gains but they may provide some encouragement for those looking to buy or sell property within this area over time.