The typical owner-occupied home in Cherokee County is worth about $232,300, 20% below the North Carolina median of $288,900 and 30% below the national median of $332,700. Owners pay a median $1,064 a year in property taxes, about 0.46% of their home's value, lower than the North Carolina rate of 0.66%. The median household earns $53,628 a year, so the median home costs 4.3 times the median income (4.0 times for North Carolina). 84% of occupied homes here are lived in by their owners, and 43% of those owners still have a mortgage.
Cherokee County at a glance
| Cherokee County | North Carolina | U.S. | |
|---|---|---|---|
| Median home value | $232,300 | $288,900 | $332,700 |
| Median property tax paid per year | $1,064 | $1,896 | $3,119 |
| Property tax as a share of value | 0.46% | 0.66% | 0.94% |
| Median household income | $53,628 | $72,388 | $80,734 |
| Homes lived in by their owners | 84% | 67% | 65% |
| Owner homes with a mortgage | 43% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,242 | $1,631 | $1,963 |
| Those costs as a share of the owners' income | 21.0% | 19.4% | 21.0% |
| Median rent | $813 | $1,228 | $1,413 |
| Rent as a share of renters' income | 26.5% | 29.5% | 30.6% |
| Median year homes were built | 1994 | 1991 | 1980 |
| Vacant homes | 28.1% | 12.5% | 10.1% |
| Population | 29,562 | 10,730,404 | 334,922,499 |
What a typical home costs per month in Cherokee County
At this week's average 30-year rate of 7.11%, buying the median Cherokee County home of $232,300 with 20% down costs about $1,436 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,823, 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 $61,543 for the 20%-down payment. That payment is 32% of the median Cherokee County household income of $53,628; at that income and 20% down, the 28% guideline points to a home of about $202,000.
The median rent here is $813 a month, so owning the median home costs about $623 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $46,460 |
|---|---|
| Loan amount | $185,840 |
| Principal and interest | $1,250 |
| Property taxes (0.46% a year) | $89 |
| Homeowners insurance (our estimate, 0.5% a year) | $97 |
| PMI | $0 |
| Total per month | $1,436 |
Change the numbers in the calculator
| Down payment | $8,130 |
|---|---|
| Loan amount | $228,092 |
| Principal and interest | $1,534 |
| Property taxes (0.46% a year) | $89 |
| Homeowners insurance (our estimate, 0.5% a year) | $97 |
| FHA mortgage insurance | $103 |
| Total per month | $1,823 |
Change the numbers in the calculator
Questions about home buying in Cherokee County
What is the median home value in Cherokee County?
About $232,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cherokee County?
Homeowners pay a median $1,064 a year, which is about 0.46% 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 Cherokee County?
For the median home with 20% down at 7.11%, the payment is about $1,436 a month. Keeping that under 28% of gross income takes about $61,543 a year.
More about Cherokee County
- Mortgage Refinance in Cherokee County
- Debt Relief in Cherokee County
- Home Equity Loans in Cherokee County
- 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