The typical owner-occupied home in East Flat Rock is worth about $245,900, 15% below the North Carolina median of $288,900 and 26% below the national median of $332,700. Owners pay a median $1,063 a year in property taxes, about 0.43% of their home's value, lower than the North Carolina rate of 0.66%. The median household earns $59,583 a year, so the median home costs 4.1 times the median income (4.0 times for North Carolina). 64% of occupied homes here are lived in by their owners, and 46% of those owners still have a mortgage.
East Flat Rock at a glance
| East Flat Rock | North Carolina | U.S. | |
|---|---|---|---|
| Median home value | $245,900 | $288,900 | $332,700 |
| Median property tax paid per year | $1,063 | $1,896 | $3,119 |
| Property tax as a share of value | 0.43% | 0.66% | 0.94% |
| Median household income | $59,583 | $72,388 | $80,734 |
| Homes lived in by their owners | 64% | 67% | 65% |
| Owner homes with a mortgage | 46% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,333 | $1,631 | $1,963 |
| Those costs as a share of the owners' income | 18.9% | 19.4% | 21.0% |
| Median rent | $1,015 | $1,228 | $1,413 |
| Rent as a share of renters' income | 24.5% | 29.5% | 30.6% |
| Median year homes were built | 1982 | 1991 | 1980 |
| Vacant homes | 5.1% | 12.5% | 10.1% |
| Population | 6,323 | 10,730,404 | 334,922,499 |
What a typical home costs per month in East Flat Rock
At this week's average 30-year rate of 7.11%, buying the median East Flat Rock home of $245,900 with 20% down costs about $1,514 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,924, 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 $64,882 for the 20%-down payment. That payment is 30% of the median East Flat Rock household income of $59,583; at that income and 20% down, the 28% guideline points to a home of about $226,000.
The median rent here is $1,015 a month, so owning the median home costs about $499 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $49,180 |
|---|---|
| Loan amount | $196,720 |
| Principal and interest | $1,323 |
| Property taxes (0.43% a year) | $88 |
| Homeowners insurance (our estimate, 0.5% a year) | $102 |
| PMI | $0 |
| Total per month | $1,514 |
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| Down payment | $8,606 |
|---|---|
| Loan amount | $241,446 |
| Principal and interest | $1,624 |
| Property taxes (0.43% a year) | $88 |
| Homeowners insurance (our estimate, 0.5% a year) | $102 |
| FHA mortgage insurance | $109 |
| Total per month | $1,924 |
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Questions about home buying in East Flat Rock
What is the median home value in East Flat Rock?
About $245,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in East Flat Rock?
Homeowners pay a median $1,063 a year, which is about 0.43% 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 East Flat Rock?
For the median home with 20% down at 7.11%, the payment is about $1,514 a month. Keeping that under 28% of gross income takes about $64,882 a year.
More about East Flat Rock
- Mortgage Refinance in East Flat Rock
- Debt Relief in East Flat Rock
- Home Equity Loans in East Flat Rock
- 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