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North Carolina's median home value is approximately $370,000 in early 2026, with Raleigh-Durham and Charlotte significantly higher. North Carolina continues to attract remote workers and retirees seeking moderate taxes, good climate, and strong job growth. Current 30-year fixed mortgage rates in North Carolina are around 6.2–6.5% in 2026. The effective property tax rate is approximately 0.75–0.9%, with annual taxes on the median home running $2,800–$3,300. The North Carolina Housing Finance Agency (NCHFA) offers first-time buyers below-market mortgage rates plus down payment assistance of up to $20,000 through the First-Time Homebuyers Program.
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State: North Carolina (median-style home price, tax, and insurance pre-filled — edit as needed)
Illustrative property tax and insurance — county levies and NCHFA limits vary. Not a loan offer.
Dollar amount. PMI applies when under 20% of home price.
PMI is estimated at 0.5% of the loan amount per year when your down payment is below 20% of the purchase price.
Total monthly payment
$2,295
Amortization summary: fixed rate; effective rate equals your quoted rate. Taxes, insurance, PMI, and HOA are shown separately from P&I.
| Year | Median Price | Change YoY |
|---|---|---|
| 2024 | ~$355,000 | +4.7% |
| 2025 | ~$363,000 | +2.3% |
| Early 2026 | $370,000 | +1.9% |
| Home Value | Effective Rate | Annual Tax |
|---|---|---|
| $250,000 | ~0.82% | ~$2,050 |
| $370,000 | ~0.82% | ~$3,034 |
| $600,000 | ~0.82% | ~$4,920 |
North Carolina's effective property tax rate of 0.75–0.9% is moderate and competitive with other Southeast states. On North Carolina's median home of $370,000, annual property taxes are approximately $2,800–$3,300. Mecklenburg County (Charlotte) and Wake County (Raleigh) have slightly higher effective rates due to local levies, while rural counties are lower.
The North Carolina Housing Finance Agency (NCHFA) operates the First-Time Homebuyers Program, which offers 30-year fixed mortgages at rates typically 0.25–0.5% below market, plus down payment assistance of up to 5% of the purchase price — often $10,000–$20,000 depending on county and income. DPA is provided as a zero-interest second mortgage, repayable when you sell or refinance. Income limits and purchase price caps apply, with some programs targeting first-time buyers only and others available to move-up buyers in targeted areas.
| Term | Rate | Monthly Payment | Total Interest |
|---|---|---|---|
| 30-year fixed | 6.35% | $1,843 | $366,824 |
| 15-year fixed | 5.85% | $2,479 | $150,636 |
Illustrative principal & interest only — excludes taxes, insurance, and PMI. Use the calculator above for your scenario.
North Carolina's median home value is approximately $370,000 in early 2026. Raleigh and Charlotte metros average $430,000–$500,000, while smaller cities like Greensboro and Winston-Salem are more affordable at $280,000–$330,000.
North Carolina's effective property tax rate is approximately 0.75–0.9% of home value. On a $370,000 home, annual property taxes are approximately $2,800–$3,300. Wake County (Raleigh) and Mecklenburg County (Charlotte) have slightly higher rates due to local levies.
Current 30-year fixed mortgage rates in North Carolina are approximately 6.2–6.5% in 2026. NCHFA program participants may access rates 0.25–0.5% below market through approved lenders.
The North Carolina Housing Finance Agency (NCHFA) First-Time Homebuyers Program offers below-market 30-year fixed mortgage rates plus down payment assistance of up to $20,000 — typically 5% of the purchase price — as a zero-interest second mortgage. Income limits and purchase price caps apply.
Conventional loans require 5–20% down. FHA loans require 3.5%. VA loans offer 0% for eligible veterans. On North Carolina's median home of $370,000, a 5% down payment is $18,500 and 20% is $74,000. NCHFA assistance of up to $20,000 can cover most or all of the 5% requirement.
Most North Carolina lenders follow standard guidelines: maximum DTI of 43–45% for conventional loans and up to 50% for FHA. NCHFA program requirements typically cap DTI at 45%. North Carolina's moderate home prices and low property taxes make it easier to qualify than in more expensive states.
Educational estimates only. Not a lender pre-approval.