This calculator starts with North Carolina’s statewide averages: property tax of 0.61% of the price per year and homeowners insurance of $3,799 per year. They are estimates — replace them with your local rate (or the home’s actual tax bill) and a real insurance quote for an exact payment.
Monthly payment on a typical North Carolina home
The median owner-occupied home in North Carolina is worth $333,000 (U.S. Census Bureau, 2024 ACS 1-year). Here is the full monthly payment on a $335,000 home with a 30-year fixed loan at 7.03%, the Freddie Mac 30-year average for the week ending September 24, 2026, with 20% down and with 5% down:
| Monthly cost | 20% down | 5% down |
|---|---|---|
| Home price | $335,000 | $335,000 |
| Down payment | $67,000 | $16,750 |
| Loan amount | $268,000 | $318,250 |
| Principal & interest | $1,788.41 | $2,123.74 |
| Property tax (0.61% a year) | $170.29 | $170.29 |
| Homeowners insurance | $316.58 | $316.58 |
| PMI (0.5% of the loan a year) | $0.00 | $132.60 |
| Total monthly payment | $2,275.29 | $2,743.22 |
| Total interest over 30 years | $375,829 | $446,297 |
Putting 5% down instead of 20% raises the payment by $468 a month: $335 more in principal and interest on the bigger loan plus $133 for private mortgage insurance. PMI drops off automatically after about 11 years 10 months, when the balance is scheduled to reach 78% of the home’s original value (if your payments are current). Property tax and insurance make up 21% of the 20%-down payment.
North Carolina mortgage payments by home price
Monthly payments at 7.03% for 30 years with North Carolina’s 0.61% property tax rate and $3,799 a year of insurance. The highlighted row is the median-priced home. Insurance in real life rises with the home’s rebuild cost; this table holds it constant.
| Home price | Principal & interest | Property tax | Insurance | Total, 20% down | Total, 5% down + PMI |
|---|---|---|---|---|---|
| $200,000 | $1,068 | $102 | $317 | $1,486 | $1,765 |
| $250,000 | $1,335 | $127 | $317 | $1,778 | $2,128 |
| $300,000 | $1,602 | $153 | $317 | $2,071 | $2,490 |
| $335,000 | $1,788 | $170 | $317 | $2,275 | $2,743 |
| $400,000 | $2,135 | $203 | $317 | $2,655 | $3,214 |
| $500,000 | $2,669 | $254 | $317 | $3,240 | $3,938 |
| $600,000 | $3,203 | $305 | $317 | $3,825 | $4,663 |
| $700,000 | $3,737 | $356 | $317 | $4,409 | $5,387 |
| $800,000 | $4,271 | $407 | $317 | $4,994 | $6,112 |
North Carolina property tax rate and insurance costs
At 0.61%, North Carolina has the 15th-lowest effective property tax rate among the 50 states and D.C. — 19% lower than the middle state’s 0.75%. Its average homeowners insurance premium of $3,799 a year is the 9th-highest of the 51.
| Measure | North Carolina | Middle state (median of 51) | Source |
|---|---|---|---|
| Effective property tax rate | 0.61% | 0.75% | Census (2024 ACS 1-year): median tax ÷ median value |
| Effective rate, aggregate method | 0.66% | Tax Foundation (ACS 2020–2024) | |
| Property tax rate rank (1 = highest) | 37 of 51 | Computed from the Census rates | |
| Median home value | $333,000 | $341,900 | Census (2024 ACS 1-year), table B25077 |
| Median property taxes paid | $2,044 / yr | $2,937 / yr | Census (2024 ACS 1-year), table B25103 |
| Average homeowners insurance | $3,799 / yr | $2,397 / yr | Insurance.com, 2026 ($300K dwelling) |
| Second insurance estimate | $3,276 / yr | Insurify, 2026 ($300K dwelling) | |
| Insurance rank (1 = most expensive) | 9 of 51 | Computed from the Insurance.com averages |
The two 2026 insurance surveys we checked agree fairly closely ($3,799 and $3,276, which differ by 15%), but your own premium can still be far from the average. Both rate surveys price a standard policy with $300,000 of dwelling coverage; the Census figures describe all owner-occupied homes, not recent purchases.
North Carolina vs. neighboring states
The same $400,000 home with 20% down at 7.03% costs $2,655 a month in North Carolina. Principal and interest ($2,135) are identical everywhere, so the differences below come only from each state’s average property tax rate and insurance premium. The “middle state” row uses the median rate (0.75%) and median premium ($2,397) of all 51.
| State | Property tax rate | Insurance / yr | Monthly payment | vs. North Carolina |
|---|---|---|---|---|
| South Carolina | 0.45% | $2,870 | $2,525 | −$131 |
| Virginia | 0.71% | $1,939 | $2,534 | −$122 |
| Tennessee | 0.45% | $3,198 | $2,552 | −$103 |
| Georgia | 0.74% | $2,301 | $2,574 | −$82 |
| North Carolina | 0.61% | $3,799 | $2,655 | — |
| Middle state (median) | 0.75% | $2,397 | $2,585 | −$70 |
See property tax rates and insurance costs for every state.
What drives housing costs in North Carolina
On the $335,000 example home, homeowners insurance is the larger add-on to the loan payment in North Carolina: $317 a month versus $170 for property tax (about 1.9 times as much). North Carolina’s median home value of $333,000 is 3% below the middle state’s $341,900, and each extra $50,000 of price adds about $292 to the monthly payment with 20% down at 7.03%.
- Local property tax rates. Property taxes are levied mainly by local governments — such as counties, cities, school districts and special districts — so bills in North Carolina can sit well above or below the 0.61% statewide average. Your local assessor or tax collector can tell you the rates that apply to a specific address.
- Exemptions and assessment limits. Many states offer homestead exemptions or credits for owner-occupied homes, and some limit how fast a home’s assessed value can rise. Where limits reset when a home sells, a new buyer usually pays a higher effective rate than the statewide figure, which averages long-time owners and recent buyers.
- Insurance risk and coverage. Premiums depend on the cost to rebuild, local weather and wildfire risk, the roof’s age, your deductible and claims history. Most homeowners policies do not cover flood damage; flood insurance is a separate policy.
- Down payment and PMI. With less than 20% down on a conventional loan, PMI adds to the payment until it is canceled: automatically when the balance is scheduled to reach 78% of the original value, or earlier at your request at 80%.
- HOA dues and extra costs. Condos and many newer subdivisions charge HOA dues. Add them in the calculator’s “Taxes, insurance, PMI & HOA” section to see your true monthly cost.
How to use this calculator
- Enter the price and down payment. The price starts at North Carolina’s median home value, rounded to $335,000.
- Set your loan term and rate from a lender quote or loan estimate.
- Replace the tax and insurance estimates. Switch property tax to “$ / yr” to enter the home’s actual tax bill, and use your insurance quote.
- Add HOA dues and extra payments, then copy the link to save or share your scenario.
To see what price fits your income, try the house affordability calculator, and check your ratios with the debt-to-income calculator.
Frequently asked questions
What is the mortgage payment on a median-priced home in North Carolina?
About $2,275 a month. That assumes a $335,000 home (near North Carolina’s $333,000 median value), 20% down and a 30-year fixed loan at 7.03%: $1,788 in principal and interest, $170 in property tax and $317 in homeowners insurance. With 5% down, the payment rises to about $2,743 because the loan is larger and PMI is added.
What is the property tax rate in North Carolina?
The statewide effective rate is about 0.61% of home value: the median homeowner paid $2,044 in real estate taxes on a median home worth $333,000 (U.S. Census Bureau, 2024 ACS 1-year). That is the 15th-lowest rate among the 50 states and D.C. The Tax Foundation’s aggregate method gives 0.66%. Your own bill depends on where the home is, how it is assessed and any exemptions you qualify for.
How much is homeowners insurance in North Carolina?
Two 2026 rate surveys put the average at $3,799 (Insurance.com) and $3,276 (Insurify) a year for a policy with $300,000 of dwelling coverage, or roughly $317 a month. The two estimates are within 15% of each other. Your premium depends on the rebuild cost, location, roof age, deductible and claims history, so compare quotes before you buy.
How much are property taxes on a $400,000 home in North Carolina?
About $2,440 a year, or $203 a month, at North Carolina’s 0.61% statewide effective rate. At the middle state’s rate of 0.75%, the same home would owe $3,000. Actual bills vary with local rates, assessments and exemptions, and in states that cap assessment increases a sale can reset the assessment to market value, so check the home’s current tax bill before you buy.
Is North Carolina more expensive for homeowners than neighboring states?
For the same $400,000 home, North Carolina has the highest monthly payment of the 5 (itself and its 4 neighbors): $2,655 with 20% down at 7.03%. Its neighbors range from $2,525 in South Carolina to $2,574 in Georgia. The loan payment is identical, so the differences come entirely from property tax and insurance, before any difference in home prices.
How long will I pay PMI with 5% down in North Carolina?
On a $335,000 home with 5% down, PMI at 0.5% of the loan a year adds about $133 a month. Under the federal Homeowners Protection Act, if you are current on payments, the servicer must cancel PMI automatically when the balance is scheduled to reach 78% of the home’s original value — about 11 years 10 months into the loan at 7.03%. You can ask to cancel it earlier, at 80%, if you have a good payment history.