Mortgage payment estimates, closing cost breakdowns, and homebuying data for Charlotte, North Carolina.
Median Home Price
$395K
Population
875K
Avg Monthly Rent
$1,580
Property Tax Rate
0.78% *
* Property tax shown is the North Carolina state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Charlotte.
Charlotte vs North Carolina Median
The median home price in Charlotte is $395,000, which is 16% above the North Carolina state median of $340,000.
Mortgage Calculator — Charlotte, NC
Pre-filled with Charlotte median home price and North Carolina tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $395K home using North Carolina's 0.78% tax rate and $2,300/yr insurance.
5% Down
$3,039/mo
Down: $19,750
Loan: $375K
P&I: $2,372
Tax: $257
Insurance: $192
PMI: $219
10% Down
$2,903/mo
Down: $39,500
Loan: $356K
P&I: $2,247
Tax: $257
Insurance: $192
PMI: $207
20% Down (No PMI)
$2,446/mo
Down: $79,000
Loan: $316K
P&I: $1,997
Tax: $257
Insurance: $192
Income needed (28% rule): $105K/year with 20% down, $124K/year with 10% down.
Rent vs Buy in Charlotte
Rent
$1,580/mo
vs
Buy (10% down)
$2,903/mo
Price-to-rent ratio: 20.8 — At a ratio above 20, renting may be more economical in Charlotte for shorter stays. Buying costs $1,323 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Charlotte is $395,000, 16% above the North Carolina state median of $340,000. With a population of 874,579, Charlotte is a major metro area where home prices reflect strong demand and local economic factors.
Property taxes in North Carolina average 0.78% annually. This moderate property tax rate means a $395,000 home in Charlotte would carry roughly $257/month in property taxes. Homeowners insurance in North Carolina runs approximately $2,300 per year. This is within the normal range nationally.
Average rent in Charlotte is $1,580/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Charlotte presents moderate affordability. The $395K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Charlotte.