The real estate market is booming right now thanks to low interest rates, a flood of millennial buyers, and shrinking inventory. The median cost of a home has increased 20% year over year, hitting $347,500, according to a report released in April 2020 by real estate listing website Redfin. These high asking costs—while good for sellers—are pricing many buyers out of the market entirely.
But all things are not equal when it comes to real estate in the United States.
Credible used 2021 data calculated by the National Association of REALTORS to compile a list of counties with the lowest median home values and monthly mortgage payments in North Carolina. Counties were ranked by the monthly mortgage payment for a typical home in 2020, from lowest to highest. Ties were broken by median home values in 2020.
The National Association of REALTORS calculated the fourth quarter 2020 median home values by applying the Federal Housing Finance Agency’s House Price Index growth to 2019 housing and population data from the American Community Survey and determining an estimate of 2020 median home values for all counties where data is available. The monthly mortgage payments for fourth quarter 2019 and fourth quarter 2020 were calculated for a 30-year fixed-rate mortgage with a 10% down payment.
Keep reading to discover which county in North Carolina has the lowest home prices.
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#30. Nash County
– Monthly mortgage payment in 2020: $504 (16.3% less than 2019)
– Monthly mortgage payment in 2019: $602
– Median home value in 2020: $136,100
– Ranked #1,540 out of 3,120 counties nationwide
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#29. Rutherford County
– Monthly mortgage payment in 2020: $503 (8.7% less than 2019)
– Monthly mortgage payment in 2019: $551
– Median home value in 2020: $135,800
– Ranked #1,537 out of 3,120 counties nationwide
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#28. Graham County
– Monthly mortgage payment in 2020: $481 (9.8% less than 2019)
– Monthly mortgage payment in 2019: $533
– Median home value in 2020: $130,000
– Ranked #1,434 out of 3,120 counties nationwide
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#27. Person County
– Monthly mortgage payment in 2020: $479 (5.9% less than 2019)
– Monthly mortgage payment in 2019: $509
– Median home value in 2020: $129,300
– Ranked #1,416 out of 3,120 counties nationwide
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#26. McDowell County
– Monthly mortgage payment in 2020: $469 (8.0% less than 2019)
– Monthly mortgage payment in 2019: $510
– Median home value in 2020: $126,700
– Ranked #1,371 out of 3,120 counties nationwide
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#25. Montgomery County
– Monthly mortgage payment in 2020: $463 (4.5% less than 2019)
– Monthly mortgage payment in 2019: $485
– Median home value in 2020: $125,100
– Ranked #1,334 out of 3,120 counties nationwide
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#24. Wayne County
– Monthly mortgage payment in 2020: $455 (24.8% less than 2019)
– Monthly mortgage payment in 2019: $605
– Median home value in 2020: $123,000
– Ranked #1,286 out of 3,120 counties nationwide
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#23. Tyrrell County
– Monthly mortgage payment in 2020: $452 (8.1% less than 2019)
– Monthly mortgage payment in 2019: $492
– Median home value in 2020: $122,100
– Ranked #1,249 out of 3,120 counties nationwide
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#22. Rockingham County
– Monthly mortgage payment in 2020: $447 (9.7% less than 2019)
– Monthly mortgage payment in 2019: $495
– Median home value in 2020: $120,700
– Ranked #1,215 out of 3,120 counties nationwide
10 / 30NatalieMaynor from Jackson, Mississippi, USA // Wikimedia Commons
#21. Caswell County
– Monthly mortgage payment in 2020: $444 (9.0% less than 2019)
– Monthly mortgage payment in 2019: $488
– Median home value in 2020: $119,900
– Ranked #1,190 out of 3,120 counties nationwide
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#20. Vance County
– Monthly mortgage payment in 2020: $399 (8.7% less than 2019)
– Monthly mortgage payment in 2019: $437
– Median home value in 2020: $107,800
– Ranked #907 out of 3,120 counties nationwide
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#19. Lenoir County
– Monthly mortgage payment in 2020: $376 (12.1% less than 2019)
– Monthly mortgage payment in 2019: $428
– Median home value in 2020: $101,500
– Ranked #738 out of 3,120 counties nationwide
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#18. Bladen County
– Monthly mortgage payment in 2020: $375 (6.9% less than 2019)
– Monthly mortgage payment in 2019: $403
– Median home value in 2020: $101,300
– Ranked #733 out of 3,120 counties nationwide
14 / 30Doug Kerr from Albany, NY, United States // Wikimedia Commons
#17. Warren County
– Monthly mortgage payment in 2020: $372 (12.5% less than 2019)
– Monthly mortgage payment in 2019: $425
– Median home value in 2020: $100,600
– Ranked #714 out of 3,120 counties nationwide
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#16. Martin County
– Monthly mortgage payment in 2020: $364 (8.1% less than 2019)
– Monthly mortgage payment in 2019: $396
– Median home value in 2020: $98,300
– Ranked #666 out of 3,120 counties nationwide
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#15. Anson County
– Monthly mortgage payment in 2020: $361 (7.9% less than 2019)
– Monthly mortgage payment in 2019: $392
– Median home value in 2020: $97,600
– Ranked #653 out of 3,120 counties nationwide
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#14. Duplin County
– Monthly mortgage payment in 2020: $355 (8.7% less than 2019)
– Monthly mortgage payment in 2019: $389
– Median home value in 2020: $95,900
– Ranked #616 out of 3,120 counties nationwide
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#13. Sampson County
– Monthly mortgage payment in 2020: $352 (11.3% less than 2019)
– Monthly mortgage payment in 2019: $397
– Median home value in 2020: $94,900
– Ranked #594 out of 3,120 counties nationwide
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#12. Jones County
– Monthly mortgage payment in 2020: $350 (11.8% less than 2019)
– Monthly mortgage payment in 2019: $397
– Median home value in 2020: $94,600
– Ranked #586 out of 3,120 counties nationwide
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#11. Columbus County
– Monthly mortgage payment in 2020: $350 (10.5% less than 2019)
– Monthly mortgage payment in 2019: $391
– Median home value in 2020: $94,500
– Ranked #582 out of 3,120 counties nationwide
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#10. Hertford County
– Monthly mortgage payment in 2020: $349 (8.6% less than 2019)
– Monthly mortgage payment in 2019: $382
– Median home value in 2020: $94,200
– Ranked #573 out of 3,120 counties nationwide
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#9. Greene County
– Monthly mortgage payment in 2020: $346 (8.5% less than 2019)
– Monthly mortgage payment in 2019: $378
– Median home value in 2020: $93,500
– Ranked #554 out of 3,120 counties nationwide
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#8. Halifax County
– Monthly mortgage payment in 2020: $340 (11.7% less than 2019)
– Monthly mortgage payment in 2019: $385
– Median home value in 2020: $91,800
– Ranked #508 out of 3,120 counties nationwide
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#7. Scotland County
– Monthly mortgage payment in 2020: $337 (10.8% less than 2019)
– Monthly mortgage payment in 2019: $378
– Median home value in 2020: $90,900
– Ranked #484 out of 3,120 counties nationwide
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#6. Washington County
– Monthly mortgage payment in 2020: $336 (11.6% less than 2019)
– Monthly mortgage payment in 2019: $380
– Median home value in 2020: $90,800
– Ranked #479 out of 3,120 counties nationwide
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#5. Edgecombe County
– Monthly mortgage payment in 2020: $333 (14.4% less than 2019)
– Monthly mortgage payment in 2019: $389
– Median home value in 2020: $89,800
– Ranked #446 out of 3,120 counties nationwide
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#4. Northampton County
– Monthly mortgage payment in 2020: $328 (11.8% less than 2019)
– Monthly mortgage payment in 2019: $372
– Median home value in 2020: $88,600
– Ranked #417 out of 3,120 counties nationwide
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#3. Richmond County
– Monthly mortgage payment in 2020: $328 (8.4% less than 2019)
– Monthly mortgage payment in 2019: $358
– Median home value in 2020: $88,500
– Ranked #413 out of 3,120 counties nationwide
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#2. Bertie County
– Monthly mortgage payment in 2020: $324 (10.5% less than 2019)
– Monthly mortgage payment in 2019: $362
– Median home value in 2020: $87,400
– Ranked #391 out of 3,120 counties nationwide
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#1. Robeson County
– Monthly mortgage payment in 2020: $290 (17.8% less than 2019)
– Monthly mortgage payment in 2019: $353
– Median home value in 2020: $78,300
– Ranked #192 out of 3,120 counties nationwide
