The typical owner-occupied home in Hillsborough is worth about $460,100, 59% above the North Carolina median of $288,900 and 38% above the national median of $332,700. Owners pay a median $4,759 a year in property taxes, about 1.03% of their home's value, higher than the North Carolina rate of 0.66%. The median household earns $98,163 a year, so the median home costs 4.7 times the median income (4.0 times for North Carolina). 64% of occupied homes here are lived in by their owners, and 75% of those owners still have a mortgage.
Hillsborough at a glance
| Hillsborough | North Carolina | U.S. | |
|---|---|---|---|
| Median home value | $460,100 | $288,900 | $332,700 |
| Median property tax paid per year | $4,759 | $1,896 | $3,119 |
| Property tax as a share of value | 1.03% | 0.66% | 0.94% |
| Median household income | $98,163 | $72,388 | $80,734 |
| Homes lived in by their owners | 64% | 67% | 65% |
| Owner homes with a mortgage | 75% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $2,067 | $1,631 | $1,963 |
| Those costs as a share of the owners' income | 19.1% | 19.4% | 21.0% |
| Median rent | $1,368 | $1,228 | $1,413 |
| Rent as a share of renters' income | 30.9% | 29.5% | 30.6% |
| Median year homes were built | 2001 | 1991 | 1980 |
| Vacant homes | 8.3% | 12.5% | 10.1% |
| Population | 9,724 | 10,730,404 | 334,922,499 |
What a typical home costs per month in Hillsborough
At this week's average 30-year rate of 7.11%, buying the median Hillsborough home of $460,100 with 20% down costs about $3,063 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,829, 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 $131,260 for the 20%-down payment. That payment is 37% of the median Hillsborough household income of $98,163; at that income and 20% down, the 28% guideline points to a home of about $344,000.
The median rent here is $1,368 a month, so owning the median home costs about $1,695 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $92,020 |
|---|---|
| Loan amount | $368,080 |
| Principal and interest | $2,476 |
| Property taxes (1.03% a year) | $395 |
| Homeowners insurance (our estimate, 0.5% a year) | $192 |
| PMI | $0 |
| Total per month | $3,063 |
Change the numbers in the calculator
| Down payment | $16,104 |
|---|---|
| Loan amount | $451,766 |
| Principal and interest | $3,039 |
| Property taxes (1.03% a year) | $395 |
| Homeowners insurance (our estimate, 0.5% a year) | $192 |
| FHA mortgage insurance | $204 |
| Total per month | $3,829 |
Change the numbers in the calculator
Questions about home buying in Hillsborough
What is the median home value in Hillsborough?
About $460,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hillsborough?
Homeowners pay a median $4,759 a year, which is about 1.03% 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 Hillsborough?
For the median home with 20% down at 7.11%, the payment is about $3,063 a month. Keeping that under 28% of gross income takes about $131,260 a year.
More about Hillsborough
- Mortgage Refinance in Hillsborough
- Debt Relief in Hillsborough
- Home Equity Loans in Hillsborough
- 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