ZIP Code Market Report
28906 — Murphy, NC
Data through February 2026 · Updated monthly
Avg Home Value
$276,440
▼ 1.1% year-over-year
Month-over-Month
+0.3%
▲ 0.3%
Single Family
$275,973
Condo / Co-op
--
The average home value in the 28906 ZIP code (Murphy, North Carolina) is $276,440 as of February 2026. Home prices are declining, down 1.1% compared to last year.
A 3-bedroom home in 28906 is valued at $332,376. 1-bedroom units start around $208,112.
The market in 28906 has a $264,707 spread between bottom-tier homes at $136,313 and top-tier homes at $401,020. Bottom-tier properties represent the primary opportunity range for real estate investors using the 70% rule, fix-and-flip, or BRRRR strategies.
This report is part of the Cherokee County market area in North Carolina. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Cherokee County report.
Free Home Value Estimate
What's your home worth in 28906 (Murphy)?
Get a free estimate based on recent sales and market data in your neighborhood. See how your home compares.
Free · Takes 30 seconds · Based on real sale data
Market Snapshot
28906 Housing Market at a Glance
Key metrics for the last 3 months with trend direction.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $277,774 | $275,644 | $276,440 | ▼ 0.5% |
| Single Family Value | $275,477 | $275,729 | $275,973 | ▲ 0.2% |
Home Values
28906 Home Value Trend
Historical home values for ZIP code 28906. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 28906
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 1 Bedroom | $208,112 |
| 2 Bedrooms | $289,787 |
| 3 Bedrooms | $332,376 |
| 4 Bedrooms | $381,353 |
Property Types
Home Values by Property Type in 28906
How different property types compare in this ZIP code.
All Homes
$276,440
Single Family
$275,973
Bottom Tier
$136,313
Top Tier
$401,020
Data Sources and Methodology
Home value data for ZIP code 28906 comes from the Zillow Home Value Index (ZHVI), updated monthly. ZHVI measures the typical home value using Zillow's automated valuation model, smoothed and seasonally adjusted.
This report was last updated February 2026. Data is refreshed on the 17th of each month.
Investing in Murphy?
Run your ARV and MAO instantly with live market data