North Carolina Mortgage Calculator

Calculate your monthly mortgage payment in North Carolina. Pre-filled with North Carolina's average property tax rate of 0.78%. See principal, interest, PMI, property taxes, and insurance.

$70,000

Monthly Payment Breakdown

Principal & Interest
$1,770
Property Tax
$227
Homeowner's Insurance
$100
Total Monthly Payment
$2,097

Loan Summary

Home Price
$350,000
Down Payment
$70,000
Loan Amount
$280,000
Total Interest
$357,125
Total Cost(P&I + down payment)
$707,124

See how this mortgage fits your financial plan

Your estimated payment is $2,097/month. See how it fits alongside your income, savings, investments, and other expenses over time.

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North Carolina Housing Overview

North Carolina has an average property tax rate of 0.78%. North Carolina's cost of living is about 5% below the national average, with the Triangle area near the average.

Property Tax: 0.78%Flat 4.5% rate (declining)Booming Research Triangle tech sectorModerate cost of living

Buying a Home in North Carolina

If you're considering buying a home in North Carolina, understanding the local housing market and costs is essential. Property taxes, insurance rates, and home prices vary significantly by area within the state. This calculator pre-fills North Carolina's average property tax rate of 0.78% to give you a more accurate estimate.

North Carolina Property Taxes

North Carolina has an average effective property tax rate of 0.78%. Property taxes are a significant component of your monthly housing cost — on a $350,000 home, a 0.78% rate means approximately $2730 per year, or $228 per month in property taxes alone.

Cost of Living in North Carolina

North Carolina's cost of living is about 5% below the national average, with the Triangle area near the average. When evaluating whether to buy a home in North Carolina, consider how your mortgage payment plus other housing costs fit within the recommended 28% of gross income guideline.

Financial Tips for North Carolina Homebuyers

  • North Carolina's declining tax rates make it increasingly competitive for workers
  • The Research Triangle (Raleigh-Durham-Chapel Hill) has a booming tech and biotech job market
  • North Carolina has a moderate cost of living with growing metro areas
  • North Carolina taxes Social Security — consider this for retirement planning

Key North Carolina Features

  • Flat 4.5% rate (declining)
  • Booming Research Triangle tech sector
  • Moderate cost of living
  • Social Security is taxed

See How Your North Carolina Mortgage Fits Your Financial Plan

This calculator shows your North Carolina mortgage payment. Trajectoryy's full simulator shows how that payment fits alongside your income, taxes, savings, investments, and more.

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Compare North Carolina Mortgage Costs with Other States

Virginia0.82% property taxTennessee0.66% property taxGeorgia0.92% property taxCalifornia0.71% property taxNew York1.46% property taxTexas1.80% property tax

Frequently Asked Questions

What is the average property tax rate in North Carolina?
The average effective property tax rate in North Carolina is approximately 0.78%. This rate is applied to the assessed value of your property, which may differ from the market value depending on North Carolina's assessment practices. Property tax rates can also vary significantly by county and municipality within the state.
How much does a typical mortgage payment cost in North Carolina?
Your mortgage payment in North Carolina depends on the home price, your down payment, interest rate, and loan term. With North Carolina's average property tax rate of 0.78%, property taxes add a meaningful amount to your monthly payment. Use the calculator above with your specific numbers to get an accurate estimate.
Is North Carolina an affordable state to buy a home?
North Carolina's cost of living is about 5% below the national average, with the Triangle area near the average. When evaluating affordability in North Carolina, consider not just the home price but also property taxes (0.78% average), homeowner's insurance costs, and any HOA fees common in your area.
How do North Carolina property taxes compare to other states?
North Carolina's average property tax rate of 0.78% can be compared against the national average of roughly 1.1%. States like New Jersey (2.23%) and Illinois (1.97%) have among the highest rates, while Hawaii (0.28%) and Alabama (0.40%) have among the lowest.
What first-time homebuyer programs are available in North Carolina?
Most states, including North Carolina, offer first-time homebuyer programs through their state housing finance agency. These typically include down payment assistance, below-market interest rates, and closing cost grants. Check with North Carolina's housing authority and the FHA, VA, and USDA loan programs for additional options.

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