Cherry home values
Cherry at a glance
- Zillow’s Home Value Index puts the typical home at $578,000 (Aug 2026), +0.2% over the past 12 months and +13% over five years.
- The Census median home value is $576,900 — 31% above Charlotte overall and 70% above the U.S. median.
- Median household income is $89,207, so homes cost 6.5× local income.
- Median rent is $1,694/month (a 3.5% gross rental yield).
- Its ZIP ranks 3rd of 7 Charlotte ZIP codes by home value.
- These figures are for ZIP 28204, which Cherry shares with Elizabeth.
Cherry home value trend
Over the 12 months to Aug 2026, typical home values in Cherry were essentially flat, to about $578,000. That is in step with Charlotte (−0.1%). Over five years the typical home gained $68,700 in value (+13%).
Year-by-year values
| Month | Typical value | Change vs year before |
|---|---|---|
| Aug 2026 | $578,000 | +0.2% |
| Aug 2025 | $576,800 | +0.2% |
| Aug 2024 | $575,900 | +2.8% |
| Aug 2023 | $560,000 | −1.0% |
| Aug 2022 | $565,600 | +11.0% |
| Aug 2021 | $509,300 | +17.3% |
| Aug 2020 | $434,300 | +5.4% |
| Aug 2019 | $412,100 | +2.9% |
| Aug 2018 | $400,500 | +3.4% |
| Aug 2017 | $387,400 | +7.9% |
| Aug 2016 | $359,000 | — |
Source: Zillow Home Value Index (ZHVI), typical value of mid-tier homes, smoothed & seasonally adjusted. Areas with several ZIPs: population-weighted.
Cherry home value score
from local value, rent & income
In ZIP 28204, prices are high relative to rents (a low gross yield), and homes are expensive against local incomes.
How the Value Score is built
Computed figures
A transparent value snapshot — computed from U.S. Census ACS (2023) for this ZIP: home value, gross rent and household income. It is not a market-timing or appreciation forecast.
Cherry vs Charlotte, North Carolina and the U.S.
| Cherry | Charlotte | North Carolina | U.S. | |
|---|---|---|---|---|
| Typical value (Zillow, Aug 2026) | $578,000 | $529,100 | $379,700 | — |
| 1-year change | +0.2% | −0.1% | −0.5% | — |
| 5-year change | +13% | +23% | +24% | — |
| Median home value (Census) | $576,900 | $441,800 | $319,400 | $340,200 |
| Median household income | $89,207 | $96,900 | $80,400 | $78,500 |
| Median gross rent | $1,694/mo | $1,633/mo | $1,322/mo | $1,406/mo |
| Price-to-income ratio | 6.5× | 4.6× | 4.0× | 4.3× |
| Gross rental yield | 3.5% | 4.4% | 5.0% | 5.0% |
| Rent as share of income | 23% | 20% | 20% | 21% |
| Mortgage payment* | $2,917/mo | $2,234/mo | $1,615/mo | $1,720/mo |
Census figures: U.S. Census Bureau ACS 5-year estimates; areas spanning several ZIPs use population-weighted averages of ZIP medians, and city/state columns cover the ZIPs of the places listed on this site. Zillow: ZHVI. *Principal & interest on the Census median value, 20% down, 6.5% fixed, 30 years.
What it costs to buy a home in Cherry
At today’s typical value of $578,000 (Zillow, Aug 2026), a buyer putting 20% down ($115,600) and financing the rest at 6.5% over 30 years would pay about $2,923 a month in principal and interest — 39% of the median household income here. That is well above the common 28% guideline, so buying here typically takes an above-median income, a larger down payment or existing equity. The median rent is $1,694/month, so owning costs roughly 73% more per month than renting, before taxes, insurance and upkeep — the trade-off is building equity.
Estimate only: excludes property tax, insurance, HOA and PMI, which vary by property. Incomes and rents are the latest Census (ACS 2023) figures. Run your own numbers in the estimator below.
What this means for buyers, sellers and investors in Cherry
Buyers
At 6.5× local income, this is a premium market; expect competition for the few homes at the lower end of the range.
Sellers
Values are up 0.2% on the year, so recent sales support your price — and get a home-specific estimate: condition and size move the number more than the area average.
Investors
A gross rental yield of 3.5% is low — this is an appreciation play rather than a cash-flow market.
Other neighborhoods in Charlotte
| Name | Home value | 1-yr | Income | Rent | Price / income |
|---|---|---|---|---|---|
| Ballantyne | $508K | +0.6% | $122K | $1,814 | 4.2× |
| Belmont city data | $426K | −1.8% | $102K | $1,862 | 4.2× |
| Biddleville ZIP 28281 · shared | — | — | — | — | — |
| Cherry ZIP 28204 · shared | $577K | +0.2% | $89K | $1,694 | 6.5× |
| Cotswold | $702K | +4.4% | $130K | $1,660 | 5.4× |
| Dilworth ZIP 28203 · shared | $709K | +0.8% | $104K | $1,829 | 6.8× |
| Eastover city data | $426K | −1.8% | $102K | $1,862 | 4.2× |
| Elizabeth ZIP 28204 · shared | $577K | +0.2% | $89K | $1,694 | 6.5× |
| Fourth Ward) city data | $426K | −1.8% | $102K | $1,862 | 4.2× |
| Madison Park city data | $426K | −1.8% | $102K | $1,862 | 4.2× |
| Myers Park city data | $426K | −1.8% | $102K | $1,862 | 4.2× |
| NoDa (North Davidson) city data | $426K | −1.8% | $102K | $1,862 | 4.2× |
| Optimist Park city data | $426K | −1.8% | $102K | $1,862 | 4.2× |
| Plaza Midwood | $198K | −1.3% | $51K | $1,173 | 3.9× |
| Second Ward city data | $426K | −1.8% | $102K | $1,862 | 4.2× |
| South End ZIP 28203 · shared | $709K | +0.8% | $104K | $1,829 | 6.8× |
| SouthPark city data | $426K | −1.8% | $102K | $1,862 | 4.2× |
| Steele Creek | $305K | −2.1% | $85K | $1,671 | 3.6× |
| Third Ward city data | $426K | −1.8% | $102K | $1,862 | 4.2× |
| University City city data | $426K | −1.8% | $102K | $1,862 | 4.2× |
| Uptown (First Ward city data | $426K | −1.8% | $102K | $1,862 | 4.2× |
| Uptown (First Ward, Second Ward, Third Ward, Fourth Ward) city data | $426K | −1.8% | $102K | $1,862 | 4.2× |
| Villa Heights | $240K | −3.0% | $51K | $1,225 | 4.7× |
| Wesley Heights ZIP 28281 · shared | — | — | — | — | — |
Home value, income and rent: Census ACS medians; 1-yr: Zillow ZHVI change over 12 months. Tap a column heading to sort.
Cherry real estate FAQ
Are home prices going up in Cherry?
What is the typical home value in Cherry?
Is Cherry affordable?
How much is rent in Cherry?
Is Cherry good for rental property investment?
What’s your Cherry home worth?
Estimates are informational only and are not an appraisal.
About this data
Data last updated: September 2026.
Current values and trends use the Zillow Home Value Index (ZHVI) — the typical value of mid-tier homes, smoothed and seasonally adjusted — through Aug 2026. It is refreshed monthly.
Median values, incomes, rents, housing stock and commutes come from the U.S. Census Bureau’s American Community Survey (ACS) 5-year estimates at ZIP Code Tabulation Area level. City and state figures are population-weighted averages of their ZIPs.
The Value Score (0–10) blends gross rental yield and price-to-income affordability. It is a value snapshot, not a forecast.
Mortgage figures assume 20% down and a 6.5% fixed 30-year loan, principal and interest only.
These are area-level statistics, not an appraisal of any individual property, and not financial advice.
Sources: U.S. Census ACS · Zillow ZHVI.