Housing Report for Hickory-Lenoir-Morganton

In Hickory-Lenoir-Morganton, the census reported 155,122 homes in 2005. The metro area has experienced a medium level of growth in the number housing units, adding in all 6,725 residential units since 2001, or 4.5 percent.

The residential real estate values in Hickory-Lenoir-Morganton, North Carolina have experienced moderate increases since the Census values accounted for in the year 2000. The values have increased by $15,100, or 16.1 percent, from their 2000 median values of $93,500.

When comparing areas across the State of North Carolina, Hickory-Lenoir-Morganton stands 12 of the 14 metro areas in terms of growth of new housing structures between 2001 and 2005. The MSA stands 217 of 361, when comparing the change in housing structures in other metropolitan areas throughout the nation.

According to the data, there is a large amount affordable residential real estate in Hickory-Lenoir-Morganton, North Carolina. In 2005, 60.2 percent of housing was valued under $125k.

Hickory-Lenoir-Morganton can be understood as having a medium proportion of high-valued homes. For the year 2005, the American Community Survey reports that 1.1 percent of the areas residential property was valued over $500k.

Hickory-Lenoir-Morganton recorded a median home value in 2005 of $108,600, according to the American Community Survey. This median is less than the North Carolina 2005 median owner-occupied dwelling value of $127,600 and less than median home value of $167,500 across the nation during that year.

Data Source: U.S. Census Bureau

Employment Report for Hickory, North Carolina -- Annual 2005 Industry Summary

Wholesale trade is the industry with the largest change in employment since the year 2001 in Hickory, moving a total of 2.1 percent. This is greater than the change in industry employment in the United States of 0.4 percent. The State of North Carolina had changed in sector employment of 6.1 percent, in the period of time since 2001.

In Hickory, Manufacturing, Retail Trade, and the Accommodation and food services sectors, in terms of total employment, are the largest. Manufacturing provides the most jobs and contributes 39.8 percent of the total MSA employment. This totals 54,137 people employed. The Retail Trade and Accommodation and food services industries total 12.1 and 7.7 percent of all employment.

The Hickory-Lenoir-Morganton is the Metropolitain Area that is ranked 126 of 363 throughout the US by total number of jobs in 2005. This position has slipped behind from the year 2001, at which time the Metropolitan Area was ranked 107 of 363 Counties.

In Hickory, Manufacturing, Transportation and Warehousing and Wholesale trade industries, in terms of United States location quotient, are the most dominant in the region. The Manufacturing sector in the county has a location quotient of 3.1. The level of employment in the Manufacturing industry is 3.1 times greater than the national average, signifying that Hickory may specialize, or be an exporter of Manufacturing.

A top paying industry in Hickory is the wholesale trade industry with an average annual wage of $40,806. In the Metropolitan Area since the year 2001, the annual average wages in the industry have grown by 11.1 percent or $4,081. The State of North Carolina reflects a similar economic condition in the wholesale trade industry, falling near the top of sectors according to average 2004 industry pay.

Manufacturing has a largest number of employees per establishment in Hickory MSA, with the industry averaging 59 employees per business. This is greater than the US industry average of 39 and greater than the State of North Carolina establishments size average of 53 for the Manufacturing industry.

The Manufacturing has seen the largest decrease in industry presence in the Hickory MSA, since the year 2001, moving from making up 47.1 percent of employment in 2001 to 39.8 percent in the year 2005.

Manufacturing saw the largest loss of employment between the years 2001-2005 in the Hickory Metro Area. The sector dealt with a loss of 18,269 total jobs during the period, accounting for 25.2 percent of the employment in the industry. This made up a total of 84.6 percent of the total jobs loss in the Metro Area.

Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).