North Carolina Mortgage Calculator
Median home prices, property taxes, and monthly payment estimates for North Carolina homeowners.
North Carolina at a Glance
- Median Home Price
- $315,000
- Property Tax Rate
- 0.71%
- Median Household Income
- $67,464
- Annual Property Tax
- $2,237
Sources: Zillow ZHVI (2024), Tax Foundation (2023), US Census ACS (2023)
Monthly Mortgage Payment in North Carolina
Based on the North Carolina median home price of $315,000 at 6.7% interest (30-year fixed):
| Payment Breakdown | 20% Down | 5% Down |
|---|---|---|
| Loan Amount | $252,000 | $299,250 |
| Principal and Interest | $1,626 | $1,931 |
| Property Tax (NC) | $186 | $186 |
| Homeowners Insurance | $125 | $125 |
| PMI | $0 | $125 |
| Total Monthly | $1,937 | $2,367 |
How Much House Can You Afford in North Carolina?
Using the 28/36 rule (housing costs under 28% of gross income):
- With 20% down, you need ~$83,035/year to afford North Carolina's median home
- With 5% down, you need ~$101,445/year
- North Carolina's median household income is $67,464
North Carolina insight: North Carolina's property tax rate of 0.71% is near the national average.
North Carolina Mortgage FAQ
What is the median home price in North Carolina?
The median home price in North Carolina is approximately $315,000 as of 2024 (Zillow ZHVI). Your actual price will vary by city and neighborhood.
What is the property tax rate in North Carolina?
The effective property tax rate in North Carolina is approximately 0.71% (Tax Foundation). On a $315,000 home, that is about $2,237/year in property taxes.
How much income do I need to buy a home in North Carolina?
Using the 28/36 rule with 20% down at 6.7%, you would need about $83,035/year to afford the median North Carolina home at $315,000. With 5% down (including PMI), about $101,445.
What will my monthly mortgage payment be in North Carolina?
On North Carolina's median home price of $315,000 with 20% down at 6.7%, your total monthly payment (P and I plus tax plus insurance) is approximately $1,937. With 5% down including PMI, about $2,367.
Data sources: Zillow ZHVI typical home values (2024), Tax Foundation effective property tax rates (2023), US Census Bureau ACS median household income (2023). Mortgage rate assumption: 6.7% APR 30-year fixed. This is an estimate — use our calculator for personalized numbers.