The typical owner-occupied home in Chapel Hill is worth about $311,100, 9% above the Tennessee median of $286,700 and 6% below the national median of $332,700. Owners pay a median $1,565 a year in property taxes, about 0.50% of their home's value, close to the Tennessee rate of 0.50%. The median household earns $75,441 a year, so the median home costs 4.1 times the median income (4.1 times for Tennessee). 86% of occupied homes here are lived in by their owners, and 70% of those owners still have a mortgage.
Chapel Hill at a glance
| Chapel Hill | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $311,100 | $286,700 | $332,700 |
| Median property tax paid per year | $1,565 | $1,442 | $3,119 |
| Property tax as a share of value | 0.50% | 0.50% | 0.94% |
| Median household income | $75,441 | $69,595 | $80,734 |
| Homes lived in by their owners | 86% | 67% | 65% |
| Owner homes with a mortgage | 70% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,633 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 23.7% | 19.6% | 21.0% |
| Median rent | $1,097 | $1,189 | $1,413 |
| Rent as a share of renters' income | 30.4% | 29.5% | 30.6% |
| Median year homes were built | 1995 | 1987 | 1980 |
| Vacant homes | 5.3% | 10.2% | 10.1% |
| Population | 1,712 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Chapel Hill
At this week's average 30-year rate of 7.11%, buying the median Chapel Hill home of $311,100 with 20% down costs about $1,933 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,452, 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 $82,863 for the 20%-down payment. That payment is 31% of the median Chapel Hill household income of $75,441; at that income and 20% down, the 28% guideline points to a home of about $283,000.
The median rent here is $1,097 a month, so owning the median home costs about $836 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $62,220 |
|---|---|
| Loan amount | $248,880 |
| Principal and interest | $1,674 |
| Property taxes (0.50% a year) | $130 |
| Homeowners insurance (our estimate, 0.5% a year) | $130 |
| PMI | $0 |
| Total per month | $1,933 |
Change the numbers in the calculator
| Down payment | $10,888 |
|---|---|
| Loan amount | $305,465 |
| Principal and interest | $2,055 |
| Property taxes (0.50% a year) | $130 |
| Homeowners insurance (our estimate, 0.5% a year) | $130 |
| FHA mortgage insurance | $138 |
| Total per month | $2,452 |
Change the numbers in the calculator
Questions about home buying in Chapel Hill
What is the median home value in Chapel Hill?
About $311,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Chapel Hill?
Homeowners pay a median $1,565 a year, which is about 0.50% 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 Chapel Hill?
For the median home with 20% down at 7.11%, the payment is about $1,933 a month. Keeping that under 28% of gross income takes about $82,863 a year.
More about Chapel Hill
- Mortgage Refinance in Chapel Hill
- Debt Relief in Chapel Hill
- Home Equity Loans in Chapel Hill
- 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