North Carolina vs Tennessee: Mortgage & Housing Costs
Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between North Carolina and Tennessee. Updated for 2026.
Metric
North Carolina
Tennessee
Median Home Price
$340K
$340K
Property Tax Rate
0.78%
0.56%
Avg Closing Costs
$5K
$5K
Closing Cost %
1.4%
1.5%
Transfer Tax
0.2%
0.37%
Homeowners Insurance
$2,300/yr
$2,400/yr
First-Time Buyer Program
NC Home Advantage Mortgage
Up to 5% DPA
THDA Great Choice Home Loan
Up to $25,000 DPA
Verdict
North Carolina wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $340K and lower overall costs, North Carolina offers meaningful savings compared to Tennessee. Both states offer first-time buyer programs — explore the state pages for full details.