The typical owner-occupied home in North Carrollton is worth about $117,500, 31% below the Mississippi median of $169,800 and 65% below the national median of $332,700. The median household earns $15,263 a year, so the median home costs 7.7 times the median income (3.0 times for Mississippi). 53% of occupied homes here are lived in by their owners, and 60% of those owners still have a mortgage.
North Carrollton at a glance
| North Carrollton | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $117,500 | $169,800 | $332,700 |
| Median property tax paid per year | – | $1,215 | $3,119 |
| Median household income | $15,263 | $56,447 | $80,734 |
| Homes lived in by their owners | 53% | 70% | 65% |
| Owner homes with a mortgage | 60% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $988 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 37.0% | 19.8% | 21.0% |
| Median rent | – | $954 | $1,413 |
| Rent as a share of renters' income | 30.7% | 30.7% | 30.6% |
| Median year homes were built | 1964 | 1986 | 1980 |
| Vacant homes | 16.3% | 14.6% | 10.1% |
| Population | 538 | 2,946,779 | 334,922,499 |
What a typical home costs per month in North Carrollton
At this week's average 30-year rate of 7.11%, buying the median North Carrollton home of $117,500 with 20% down costs about $789 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $985, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $33,815 for the 20%-down payment. That payment is 62% of the median North Carrollton household income of $15,263; at that income and 20% down, the 28% guideline points to a home of about $53,000.
| Down payment | $23,500 |
|---|---|
| Loan amount | $94,000 |
| Principal and interest | $632 |
| Property taxes (1.10% a year) | $108 |
| Homeowners insurance (our estimate, 0.5% a year) | $49 |
| PMI | $0 |
| Total per month | $789 |
Change the numbers in the calculator
| Down payment | $4,112 |
|---|---|
| Loan amount | $115,372 |
| Principal and interest | $776 |
| Property taxes (1.10% a year) | $108 |
| Homeowners insurance (our estimate, 0.5% a year) | $49 |
| FHA mortgage insurance | $52 |
| Total per month | $985 |
Change the numbers in the calculator
Questions about home buying in North Carrollton
What is the median home value in North Carrollton?
About $117,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in North Carrollton?
For the median home with 20% down at 7.11%, the payment is about $789 a month. Keeping that under 28% of gross income takes about $33,815 a year.
More about North Carrollton
- Mortgage Refinance in North Carrollton
- Debt Relief in North Carrollton
- Home Equity Loans in North Carrollton
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data