The typical owner-occupied home in New Hanover County is worth about $387,800, 34% above the North Carolina median of $288,900 and 17% above the national median of $332,700. Owners pay a median $2,105 a year in property taxes, about 0.54% of their home's value, lower than the North Carolina rate of 0.66%. The median household earns $75,166 a year, so the median home costs 5.2 times the median income (4.0 times for North Carolina). 61% of occupied homes here are lived in by their owners, and 67% of those owners still have a mortgage.
New Hanover County at a glance
| New Hanover County | North Carolina | U.S. | |
|---|---|---|---|
| Median home value | $387,800 | $288,900 | $332,700 |
| Median property tax paid per year | $2,105 | $1,896 | $3,119 |
| Property tax as a share of value | 0.54% | 0.66% | 0.94% |
| Median household income | $75,166 | $72,388 | $80,734 |
| Homes lived in by their owners | 61% | 67% | 65% |
| Owner homes with a mortgage | 67% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,888 | $1,631 | $1,963 |
| Those costs as a share of the owners' income | 21.2% | 19.4% | 21.0% |
| Median rent | $1,417 | $1,228 | $1,413 |
| Rent as a share of renters' income | 33.0% | 29.5% | 30.6% |
| Median year homes were built | 1993 | 1991 | 1980 |
| Vacant homes | 12.7% | 12.5% | 10.1% |
| Population | 235,229 | 10,730,404 | 334,922,499 |
What a typical home costs per month in New Hanover County
At this week's average 30-year rate of 7.11%, buying the median New Hanover County home of $387,800 with 20% down costs about $2,423 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,069, 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 $103,847 for the 20%-down payment. That payment is 39% of the median New Hanover County household income of $75,166; at that income and 20% down, the 28% guideline points to a home of about $281,000.
The median rent here is $1,417 a month, so owning the median home costs about $1,006 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $77,560 |
|---|---|
| Loan amount | $310,240 |
| Principal and interest | $2,087 |
| Property taxes (0.54% a year) | $175 |
| Homeowners insurance (our estimate, 0.5% a year) | $162 |
| PMI | $0 |
| Total per month | $2,423 |
Change the numbers in the calculator
| Down payment | $13,573 |
|---|---|
| Loan amount | $380,776 |
| Principal and interest | $2,562 |
| Property taxes (0.54% a year) | $175 |
| Homeowners insurance (our estimate, 0.5% a year) | $162 |
| FHA mortgage insurance | $172 |
| Total per month | $3,069 |
Change the numbers in the calculator
Questions about home buying in New Hanover County
What is the median home value in New Hanover County?
About $387,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in New Hanover County?
Homeowners pay a median $2,105 a year, which is about 0.54% 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 New Hanover County?
For the median home with 20% down at 7.11%, the payment is about $2,423 a month. Keeping that under 28% of gross income takes about $103,847 a year.
More about New Hanover County
- Mortgage Refinance in New Hanover County
- Debt Relief in New Hanover County
- Home Equity Loans in New Hanover 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