Mortgage payment estimates, closing cost breakdowns, and homebuying data for Hickory, North Carolina.
Median Home Price
$245K
Population
43K
Avg Monthly Rent
$1,080
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 Hickory.
Hickory vs North Carolina Median
The median home price in Hickory is $245,000, which is 28% below the North Carolina state median of $340,000.
Mortgage Calculator — Hickory, NC
Pre-filled with Hickory median home price and North Carolina tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $245K home using North Carolina's 0.78% tax rate and $2,300/yr insurance.
5% Down
$1,958/mo
Down: $12,250
Loan: $233K
P&I: $1,471
Tax: $159
Insurance: $192
PMI: $136
10% Down
$1,873/mo
Down: $24,500
Loan: $221K
P&I: $1,394
Tax: $159
Insurance: $192
PMI: $129
20% Down (No PMI)
$1,590/mo
Down: $49,000
Loan: $196K
P&I: $1,239
Tax: $159
Insurance: $192
Income needed (28% rule): $68K/year with 20% down, $80K/year with 10% down.
Rent vs Buy in Hickory
Rent
$1,080/mo
vs
Buy (10% down)
$1,873/mo
Price-to-rent ratio: 18.9 — A ratio between 15-20 means the rent vs buy decision in Hickory depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Hickory is $245,000, 28% below the North Carolina state median of $340,000. With a population of 43,490, Hickory is a smaller market where home prices tend to be more accessible than in many parts of North Carolina.
Property taxes in North Carolina average 0.78% annually. This moderate property tax rate means a $245,000 home in Hickory would carry roughly $159/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 Hickory is $1,080/month. The price-to-rent ratio in Hickory is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Hickory offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with North Carolina's NC Home Advantage Mortgage program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Hickory.