The typical owner-occupied home in Albemarle is worth about $204,800, 29% below the North Carolina median of $288,900 and 38% below the national median of $332,700. Owners pay a median $1,396 a year in property taxes, about 0.68% of their home's value, close to the North Carolina rate of 0.66%. The median household earns $46,881 a year, so the median home costs 4.4 times the median income (4.0 times for North Carolina). 56% of occupied homes here are lived in by their owners, and 58% of those owners still have a mortgage.
Albemarle at a glance
| Albemarle | North Carolina | U.S. | |
|---|---|---|---|
| Median home value | $204,800 | $288,900 | $332,700 |
| Median property tax paid per year | $1,396 | $1,896 | $3,119 |
| Property tax as a share of value | 0.68% | 0.66% | 0.94% |
| Median household income | $46,881 | $72,388 | $80,734 |
| Homes lived in by their owners | 56% | 67% | 65% |
| Owner homes with a mortgage | 58% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,244 | $1,631 | $1,963 |
| Those costs as a share of the owners' income | 17.1% | 19.4% | 21.0% |
| Median rent | $880 | $1,228 | $1,413 |
| Rent as a share of renters' income | 33.4% | 29.5% | 30.6% |
| Median year homes were built | 1966 | 1991 | 1980 |
| Vacant homes | 14.5% | 12.5% | 10.1% |
| Population | 16,762 | 10,730,404 | 334,922,499 |
What a typical home costs per month in Albemarle
At this week's average 30-year rate of 7.11%, buying the median Albemarle home of $204,800 with 20% down costs about $1,304 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,645, 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 $55,866 for the 20%-down payment. That payment is 33% of the median Albemarle household income of $46,881; at that income and 20% down, the 28% guideline points to a home of about $172,000.
The median rent here is $880 a month, so owning the median home costs about $424 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $40,960 |
|---|---|
| Loan amount | $163,840 |
| Principal and interest | $1,102 |
| Property taxes (0.68% a year) | $116 |
| Homeowners insurance (our estimate, 0.5% a year) | $85 |
| PMI | $0 |
| Total per month | $1,304 |
Change the numbers in the calculator
| Down payment | $7,168 |
|---|---|
| Loan amount | $201,091 |
| Principal and interest | $1,353 |
| Property taxes (0.68% a year) | $116 |
| Homeowners insurance (our estimate, 0.5% a year) | $85 |
| FHA mortgage insurance | $91 |
| Total per month | $1,645 |
Change the numbers in the calculator
Questions about home buying in Albemarle
What is the median home value in Albemarle?
About $204,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Albemarle?
Homeowners pay a median $1,396 a year, which is about 0.68% 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 Albemarle?
For the median home with 20% down at 7.11%, the payment is about $1,304 a month. Keeping that under 28% of gross income takes about $55,866 a year.
More about Albemarle
- Mortgage Refinance in Albemarle
- Debt Relief in Albemarle
- Home Equity Loans in Albemarle
- 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