The typical owner-occupied home in Cornelius is worth about $559,400, 94% above the North Carolina median of $288,900 and 68% above the national median of $332,700. Owners pay a median $3,512 a year in property taxes, about 0.63% of their home's value, close to the North Carolina rate of 0.66%. The median household earns $113,767 a year, so the median home costs 4.9 times the median income (4.0 times for North Carolina). 70% of occupied homes here are lived in by their owners, and 70% of those owners still have a mortgage.
Cornelius at a glance
| Cornelius | North Carolina | U.S. | |
|---|---|---|---|
| Median home value | $559,400 | $288,900 | $332,700 |
| Median property tax paid per year | $3,512 | $1,896 | $3,119 |
| Property tax as a share of value | 0.63% | 0.66% | 0.94% |
| Median household income | $113,767 | $72,388 | $80,734 |
| Homes lived in by their owners | 70% | 67% | 65% |
| Owner homes with a mortgage | 70% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $2,282 | $1,631 | $1,963 |
| Those costs as a share of the owners' income | 17.8% | 19.4% | 21.0% |
| Median rent | $1,722 | $1,228 | $1,413 |
| Rent as a share of renters' income | 29.5% | 29.5% | 30.6% |
| Median year homes were built | 2002 | 1991 | 1980 |
| Vacant homes | 7.2% | 12.5% | 10.1% |
| Population | 32,783 | 10,730,404 | 334,922,499 |
What a typical home costs per month in Cornelius
At this week's average 30-year rate of 7.11%, buying the median Cornelius home of $559,400 with 20% down costs about $3,537 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,469, 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 $151,597 for the 20%-down payment. That payment is 37% of the median Cornelius household income of $113,767; at that income and 20% down, the 28% guideline points to a home of about $420,000.
The median rent here is $1,722 a month, so owning the median home costs about $1,815 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $111,880 |
|---|---|
| Loan amount | $447,520 |
| Principal and interest | $3,010 |
| Property taxes (0.63% a year) | $294 |
| Homeowners insurance (our estimate, 0.5% a year) | $233 |
| PMI | $0 |
| Total per month | $3,537 |
Change the numbers in the calculator
| Down payment | $19,579 |
|---|---|
| Loan amount | $549,268 |
| Principal and interest | $3,695 |
| Property taxes (0.63% a year) | $294 |
| Homeowners insurance (our estimate, 0.5% a year) | $233 |
| FHA mortgage insurance | $247 |
| Total per month | $4,469 |
Change the numbers in the calculator
Questions about home buying in Cornelius
What is the median home value in Cornelius?
About $559,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cornelius?
Homeowners pay a median $3,512 a year, which is about 0.63% 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 Cornelius?
For the median home with 20% down at 7.11%, the payment is about $3,537 a month. Keeping that under 28% of gross income takes about $151,597 a year.
More about Cornelius
- Mortgage Refinance in Cornelius
- Debt Relief in Cornelius
- Home Equity Loans in Cornelius
- 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