The typical owner-occupied home in Iron Station is worth about $158,700, 45% below the North Carolina median of $288,900 and 52% below the national median of $332,700. Owners pay a median $1,113 a year in property taxes, about 0.70% of their home's value, higher than the North Carolina rate of 0.66%. The median household earns $77,083 a year, so the median home costs 2.1 times the median income (4.0 times for North Carolina). 91% of occupied homes here are lived in by their owners, and 64% of those owners still have a mortgage.
Iron Station at a glance
| Iron Station | North Carolina | U.S. | |
|---|---|---|---|
| Median home value | $158,700 | $288,900 | $332,700 |
| Median property tax paid per year | $1,113 | $1,896 | $3,119 |
| Property tax as a share of value | 0.70% | 0.66% | 0.94% |
| Median household income | $77,083 | $72,388 | $80,734 |
| Homes lived in by their owners | 91% | 67% | 65% |
| Owner homes with a mortgage | 64% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $981 | $1,631 | $1,963 |
| Those costs as a share of the owners' income | 14.7% | 19.4% | 21.0% |
| Median rent | – | $1,228 | $1,413 |
| Median year homes were built | 1998 | 1991 | 1980 |
| Vacant homes | 21.2% | 12.5% | 10.1% |
| Population | 934 | 10,730,404 | 334,922,499 |
What a typical home costs per month in Iron Station
At this week's average 30-year rate of 7.11%, buying the median Iron Station home of $158,700 with 20% down costs about $1,013 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,277, 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 $43,404 for the 20%-down payment. That payment is 16% of the median Iron Station household income of $77,083; at that income and 20% down, the 28% guideline points to a home of about $282,000.
| Down payment | $31,740 |
|---|---|
| Loan amount | $126,960 |
| Principal and interest | $854 |
| Property taxes (0.70% a year) | $93 |
| Homeowners insurance (our estimate, 0.5% a year) | $66 |
| PMI | $0 |
| Total per month | $1,013 |
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| Down payment | $5,554 |
|---|---|
| Loan amount | $155,826 |
| Principal and interest | $1,048 |
| Property taxes (0.70% a year) | $93 |
| Homeowners insurance (our estimate, 0.5% a year) | $66 |
| FHA mortgage insurance | $70 |
| Total per month | $1,277 |
Change the numbers in the calculator
Questions about home buying in Iron Station
What is the median home value in Iron Station?
About $158,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Iron Station?
Homeowners pay a median $1,113 a year, which is about 0.70% 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 Iron Station?
For the median home with 20% down at 7.11%, the payment is about $1,013 a month. Keeping that under 28% of gross income takes about $43,404 a year.
More about Iron Station
- Mortgage Refinance in Iron Station
- Debt Relief in Iron Station
- Home Equity Loans in Iron Station
- 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