The typical owner-occupied home in North Carolina is worth about $288,900, 13% below the national median of $332,700. Owners pay a median $1,896 a year in property taxes, about 0.66% of their home's value, lower than the national rate of 0.94%. The median household earns $72,388 a year, so the median home costs 4.0 times the median income (4.1 times for the U.S.). 67% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
North Carolina at a glance
| North Carolina | U.S. | |
|---|---|---|
| Median home value | $288,900 | $332,700 |
| Median property tax paid per year | $1,896 | $3,119 |
| Property tax as a share of value | 0.66% | 0.94% |
| Median household income | $72,388 | $80,734 |
| Homes lived in by their owners | 67% | 65% |
| Owner homes with a mortgage | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,631 | $1,963 |
| Those costs as a share of the owners' income | 19.4% | 21.0% |
| Median rent | $1,228 | $1,413 |
| Rent as a share of renters' income | 29.5% | 30.6% |
| Median year homes were built | 1991 | 1980 |
| Vacant homes | 12.5% | 10.1% |
| Population | 10,730,404 | 334,922,499 |
What a typical home costs per month in North Carolina
At this week's average 30-year rate of 7.11%, buying the median North Carolina home of $288,900 with 20% down costs about $1,834 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,315, 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 $78,601 for the 20%-down payment. That payment is 30% of the median North Carolina household income of $72,388; at that income and 20% down, the 28% guideline points to a home of about $266,000.
The median rent here is $1,228 a month, so owning the median home costs about $606 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $57,780 |
|---|---|
| Loan amount | $231,120 |
| Principal and interest | $1,555 |
| Property taxes (0.66% a year) | $159 |
| Homeowners insurance (our estimate, 0.5% a year) | $120 |
| PMI | $0 |
| Total per month | $1,834 |
Change the numbers in the calculator
| Down payment | $10,112 |
|---|---|
| Loan amount | $283,667 |
| Principal and interest | $1,908 |
| Property taxes (0.66% a year) | $159 |
| Homeowners insurance (our estimate, 0.5% a year) | $120 |
| FHA mortgage insurance | $128 |
| Total per month | $2,315 |
Change the numbers in the calculator
Questions about home buying in North Carolina
What is the median home value in North Carolina?
About $288,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in North Carolina?
Homeowners pay a median $1,896 a year, which is about 0.66% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in North Carolina?
For the median home with 20% down at 7.11%, the payment is about $1,834 a month. Keeping that under 28% of gross income takes about $78,601 a year.
More about North Carolina
- Mortgage Refinance in North Carolina
- Debt Relief in North Carolina
- Home Equity Loans in North Carolina
- 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