Charlotte-Concord-Gastonia, NC-SC · North Carolina
Rowan County
ZIP 28138
148,487 residents858 permits TTM$63,196 median HHI14 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$216,100
ACS 5-Year
Cap rate proxy
9.4%
FMR × 0.65 ÷ Home Value
Rent-to-income
18.8%
HUD FMR ÷ ACS HHI
Net migration
+1.95%
IRS SOI
Permits (TTM)
858
Census BPS
Climate risk
82.9
FEMA NRI (0–100)
ZIP 28138
Median home value
$287,672
Gross yield
5.2%
Buy Box score
0.6
Section 8 gap
25.3%
Affordability
P/I: 4.6R/I: —
Section 8 detail
SAFMR: $1,240Rent: $990Gap: 25.3%
ZIP code breakdown14 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate ↓ | Rent gap |
|---|---|---|---|---|---|
| 28144 | — | — | — | 7.9% | 10.3% |
| 28023 | — | — | — | 6.3% | 11.0% |
| 28159 | — | — | — | 5.9% | 41.3% |
| 28146 | — | — | — | 5.7% | 15.9% |
| 28039 | — | — | — | 5.5% | 41.3% |
| 28041 | — | — | — | 5.5% | 41.3% |
| 28072 | — | — | — | 5.5% | 41.3% |
| 28147 | — | — | — | 4.9% | 29.9% |
| 27054 | — | — | — | 4.5% | 41.3% |
| 28088 | — | — | — | 4.4% | 41.3% |
| 28138 | $287,672 | $1,240 | 5.2% | 4.1% | 20.2% |
| 27013 | — | — | — | 3.9% | 41.3% |
| 28071 | $320,886 | $1,160 | 4.3% | 3.7% | 14.7% |
| 28125 | — | — | — | 2.7% | 41.3% |
Sort by any column. Click a ZIP for detail. Rent gap: green = HUD FMR above market rent.
Demographics
Owner-occupied
71.2%
Census ACS
Vacancy rate
10.1%
Census ACS
Bachelor's degree +
21.5%
Census ACS
Rent burdened
41.4%
Census ACS (>30% income)
Median age
40.5
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026