The typical owner-occupied home in Elizabeth City is worth about $187,700, 35% below the North Carolina median of $288,900 and 44% below the national median of $332,700. Owners pay a median $1,600 a year in property taxes, about 0.85% of their home's value, higher than the North Carolina rate of 0.66%. The median household earns $52,141 a year, so the median home costs 3.6 times the median income (4.0 times for North Carolina). 44% of occupied homes here are lived in by their owners, and 58% of those owners still have a mortgage.
Elizabeth City at a glance
| Elizabeth City | North Carolina | U.S. | |
|---|---|---|---|
| Median home value | $187,700 | $288,900 | $332,700 |
| Median property tax paid per year | $1,600 | $1,896 | $3,119 |
| Property tax as a share of value | 0.85% | 0.66% | 0.94% |
| Median household income | $52,141 | $72,388 | $80,734 |
| Homes lived in by their owners | 44% | 67% | 65% |
| Owner homes with a mortgage | 58% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,417 | $1,631 | $1,963 |
| Those costs as a share of the owners' income | 23.5% | 19.4% | 21.0% |
| Median rent | $1,117 | $1,228 | $1,413 |
| Rent as a share of renters' income | 31.4% | 29.5% | 30.6% |
| Median year homes were built | 1970 | 1991 | 1980 |
| Vacant homes | 12.8% | 12.5% | 10.1% |
| Population | 18,871 | 10,730,404 | 334,922,499 |
What a typical home costs per month in Elizabeth City
At this week's average 30-year rate of 7.11%, buying the median Elizabeth City home of $187,700 with 20% down costs about $1,221 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,534, 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 $52,341 for the 20%-down payment. That payment is 28% of the median Elizabeth City household income of $52,141; at that income and 20% down, the 28% guideline points to a home of about $187,000.
The median rent here is $1,117 a month, so owning the median home costs about $104 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $37,540 |
|---|---|
| Loan amount | $150,160 |
| Principal and interest | $1,010 |
| Property taxes (0.85% a year) | $133 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| PMI | $0 |
| Total per month | $1,221 |
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| Down payment | $6,570 |
|---|---|
| Loan amount | $184,300 |
| Principal and interest | $1,240 |
| Property taxes (0.85% a year) | $133 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| FHA mortgage insurance | $83 |
| Total per month | $1,534 |
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Questions about home buying in Elizabeth City
What is the median home value in Elizabeth City?
About $187,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Elizabeth City?
Homeowners pay a median $1,600 a year, which is about 0.85% 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 Elizabeth City?
For the median home with 20% down at 7.11%, the payment is about $1,221 a month. Keeping that under 28% of gross income takes about $52,341 a year.
More about Elizabeth City
- Mortgage Refinance in Elizabeth City
- Debt Relief in Elizabeth City
- Home Equity Loans in Elizabeth City
- 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