Total monthly cost of ownership
Cost to Own a Home in Advance, North Carolina
A $359,000 home here costs
$2,648per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,846. The real number is $802 higher every month — 43% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Advance against Davie County and North Carolina
| Measure | Advance | Davie County |
|---|---|---|
| Median home value | $358,500 | $235,300 |
| Median property tax | $2,028 | $1,570 |
| Effective tax rate | 0.566% | 0.667% |
| Median gross rent | $865 | $889 |
| Population | 1,544 | 43,526 |
The weather behind that power bill
Advance sits in Davie County, which averages a high of 87.7°F in its hottest month and a low of 24.8°F in its coldest, with 46.88" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,221 cooling and 4,083 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Davie County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Davie County
Full Davie County cost breakdown · Every county in North Carolina
Common questions
How much does it cost to own a home in Advance?
A $359,000 home in Advance, North Carolina costs approximately $2,648 per month with 20% down at 6.66%. That is $1,846 principal and interest, $169 property tax, $130 homeowners insurance, $204 utilities and $299 set aside for maintenance.
What is the property tax rate in Advance?
Advance has an effective property tax rate of 0.566%, based on a median home value of $358,500 and median real estate taxes of $2,028. That is lower than the Davie County average of 0.667%.
What is the average home price in Advance?
The median owner-occupied home value in Advance, North Carolina is $358,500, against $235,300 across Davie County.
Is it cheaper to rent or buy in Advance?
Median gross rent in Advance is $865 a month, against $2,648 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Advance — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for North Carolina.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.