The typical owner-occupied home in Lowgap is worth about $163,500, 43% below the North Carolina median of $288,900 and 51% below the national median of $332,700. The median household earns $60,368 a year, so the median home costs 2.7 times the median income (4.0 times for North Carolina). 51% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Lowgap at a glance
| Lowgap | North Carolina | U.S. | |
|---|---|---|---|
| Median home value | $163,500 | $288,900 | $332,700 |
| Median property tax paid per year | – | $1,896 | $3,119 |
| Median household income | $60,368 | $72,388 | $80,734 |
| Homes lived in by their owners | 51% | 67% | 65% |
| Owner homes with a mortgage | 57% | 61% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,631 | $1,963 |
| Median rent | $763 | $1,228 | $1,413 |
| Rent as a share of renters' income | 26.3% | 29.5% | 30.6% |
| Median year homes were built | 1979 | 1991 | 1980 |
| Vacant homes | 24.8% | 12.5% | 10.1% |
| Population | 264 | 10,730,404 | 334,922,499 |
What a typical home costs per month in Lowgap
At this week's average 30-year rate of 7.11%, buying the median Lowgap home of $163,500 with 20% down costs about $1,098 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,370, 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 $47,053 for the 20%-down payment. That payment is 22% of the median Lowgap household income of $60,368; at that income and 20% down, the 28% guideline points to a home of about $210,000.
The median rent here is $763 a month, so owning the median home costs about $335 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $32,700 |
|---|---|
| Loan amount | $130,800 |
| Principal and interest | $880 |
| Property taxes (1.10% a year) | $150 |
| Homeowners insurance (our estimate, 0.5% a year) | $68 |
| PMI | $0 |
| Total per month | $1,098 |
Change the numbers in the calculator
| Down payment | $5,722 |
|---|---|
| Loan amount | $160,539 |
| Principal and interest | $1,080 |
| Property taxes (1.10% a year) | $150 |
| Homeowners insurance (our estimate, 0.5% a year) | $68 |
| FHA mortgage insurance | $72 |
| Total per month | $1,370 |
Change the numbers in the calculator
Questions about home buying in Lowgap
What is the median home value in Lowgap?
About $163,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Lowgap?
For the median home with 20% down at 7.11%, the payment is about $1,098 a month. Keeping that under 28% of gross income takes about $47,053 a year.
More about Lowgap
- Mortgage Refinance in Lowgap
- Debt Relief in Lowgap
- Home Equity Loans in Lowgap
- 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