CALCMONEY // HOME AFFORDABILITY // NC
Find out how much home you can afford in North Carolina using local median home prices, current mortgage rates, and NC-specific property tax data.
Open Full Calculator$338,359
$2,085/mo
$269,268
$89,338/yr
| Median Home Price | $338,359 |
| Down Payment (20%) | $67,672 |
| Loan Amount | $270,687 |
| Monthly PI Payment | $1,757 |
| Monthly Property Tax | $186 |
| Monthly Insurance Est. | $141 |
| Total Monthly PITI | $2,085 |
| Required Gross Income (28% rule) | $89,338/yr |
| Max Affordable Price (28% rule) | $269,268 |
$11,843
$2,678/mo
North Carolina Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $338,359 | State median |
| Down Payment (20%) | $67,672 | Conventional |
| Monthly PITI (median home) | $2,085 | 6.76% rate |
| Required Income (28% rule) | $89,338 | Annual gross |
| Max Affordable Home | $269,268 | Based on median income |
| FHA Down Payment (3.5%) | $11,843 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in North Carolina is $338,359, with a current 30-year fixed mortgage rate of 6.76%. A buyer putting 20% down on the median home would carry a loan of $270,687, resulting in a monthly principal and interest payment of $1,757. Once property taxes and insurance are added, total monthly housing costs reach $2,085.
Property taxes in North Carolina average 0.66%, well below the national average of 1.1%. On the median North Carolina home, property taxes add $186/month to total housing costs.
North Carolina levies a state income tax of 3.99% flat, which affects take-home pay and therefore what you can realistically budget for housing. Mortgage interest may be deductible on both federal and North Carolina state returns — consult a tax professional for your situation.
Using the 28% rule, a household earning North Carolina's median income of $73,958/year can afford up to $1,726/month in total housing costs (principal, interest, taxes, and insurance). Based on North Carolina's current mortgage rate of 6.76% and property tax rate of 0.66%, that translates to a maximum affordable home price of approximately $269,268 with 20% down on a 30-year loan.
To comfortably afford the median North Carolina home priced at $338,359, you need an annual gross income of approximately $89,338. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $1,757, property taxes of $186, and insurance of $141) come to $2,085/month, which should not exceed 28% of your gross monthly income.
North Carolina's average property tax rate is 0.66%, which is well below the national average of 1.1%. On the median North Carolina home of $338,359, that means annual property taxes of $2,233, or $186/month. Because lenders include property taxes in your debt-to-income calculation, North Carolina's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median North Carolina home of $338,359, that is $11,843. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($67,672 on the median North Carolina home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no North Carolina-specific minimum down payment requirements beyond federal guidelines.