Total monthly cost of ownership
Cost to Own a Home in Clayton, North Carolina
A $292,000 home here costs
$2,402per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $103,000 a year.
A standard mortgage calculator would have told you $1,617. The real number is $784 higher every month, 49% more than the payment most buyers budget for.
Compare Wake County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Clayton against Wake County and North Carolina
| Measure | Clayton | Wake County |
|---|---|---|
| Median home value | $292,400 | $422,800 |
| Median property tax | $2,565 | $3,023 |
| Effective tax rate | 0.877% | 0.715% |
| Median gross rent | $1,542 | $1,508 |
| Population | 28,043 | 1,151,009 |
Clayton extends across 2 counties. Figures here use Wake County, where most of its housing sits.
The weather behind that power bill
Clayton sits in Wake County, which averages a high of 90.6°F in its hottest month and a low of 31.6°F in its coldest, with 49.36" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,779 cooling and 3,165 heating degree days, which is what sets the $154 electricity line above.
See the full climate breakdown for Wake County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Wake County
Full Wake County cost breakdown · Every county in North Carolina
Talk to someone who works this market
These are Clayton averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Clayton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Clayton I already own here and may sell
Common questions
How much does it cost to own a home in Clayton?
A $292,000 home in Clayton, North Carolina costs approximately $2,402 per month with 20% down at 7.4%. That is $1,617 principal and interest, $213 property tax, $106 homeowners insurance, $222 utilities and $243 set aside for maintenance.
What is the property tax rate in Clayton?
Clayton has an effective property tax rate of 0.877%, based on a median home value of $292,400 and median real estate taxes of $2,565. That is higher than the Wake County average of 0.715%.
What is the average home price in Clayton?
The median owner-occupied home value in Clayton, North Carolina is $292,400, against $422,800 across Wake County.
Is it cheaper to rent or buy in Clayton?
Median gross rent in Clayton is $1,542 a month, against $2,402 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Clayton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Clayton, North Carolina at today's rate takes a household income of roughly $103,000 a year. That covers the full $2,402 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Clayton, 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.