Charlotte Housing Market at a Glance
Median Home Price
$425,000
Median Monthly Rent
$1,750
Property Tax Rate
1.05%
Avg Home Insurance
$1,700/yr
Price-to-Rent Ratio: 20.2x (Lower ratios favor buying; higher ratios favor renting)
Charlotte-Specific Insights
- → Charlotte's banking sector drives stable job growth and housing demand.
- → North Carolina's moderate taxes and insurance costs make homeownership math favorable for 7+ year timelines.
Run Your Charlotte Scenario
Pre-filled with Charlotte's median data. Adjust to your situation.
Open Calculator with Charlotte Data →Key Factors for Charlotte Buyers
1. Down Payment Requirements
With Charlotte's median home price of $425,000, a 20% down payment is $85,000. Putting down less triggers PMI (typically 0.5–1.5% annually until you reach 20% equity).
2. Property Taxes
NC's property tax rate averages 1.05%, which translates to roughly $371.875/month on a median-priced home. This is near the national average.
3. Tax Deductions
Mortgage interest is deductible if you itemize (must exceed standard deduction: ~$14,600 single, ~$29,200 married in 2025). Combined with NC state taxes, itemizing may be worthwhile.
4. Opportunity Cost
If you rent and invest your down payment instead (e.g., S&P 500 averaging ~10% annually), you build wealth differently. The calculator models this trade-off month-by-month to find your break-even point.