Total monthly cost of ownership
Cost to Own a Home in Concord, North Carolina
A $328,000 home here costs
$2,653per 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 $113,500 a year.
A standard mortgage calculator would have told you $1,817. The real number is $836 higher every month, 46% more than the payment most buyers budget for.
Compare Mecklenburg 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.
Concord against Mecklenburg County and North Carolina
| Measure | Concord | Mecklenburg County |
|---|---|---|
| Median home value | $327,600 | $371,200 |
| Median property tax | $2,659 | $2,780 |
| Effective tax rate | 0.812% | 0.749% |
| Median gross rent | $1,365 | $1,521 |
| Population | 106,518 | 1,130,906 |
Concord extends across 2 counties. Figures here use Mecklenburg County, where most of its housing sits.
The weather behind that power bill
Concord sits in Mecklenburg County, which averages a high of 90.3°F in its hottest month and a low of 31.8°F in its coldest, with 43.6" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,769 cooling and 3,058 heating degree days, which is what sets the $154 electricity line above.
See the full climate breakdown for Mecklenburg County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mecklenburg County
Full Mecklenburg County cost breakdown · Every county in North Carolina
Talk to someone who works this market
These are Concord 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 Concord every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Concord I already own here and may sell
Common questions
How much does it cost to own a home in Concord?
A $328,000 home in Concord, North Carolina costs approximately $2,653 per month with 20% down at 7.4%. That is $1,817 principal and interest, $222 property tax, $119 homeowners insurance, $222 utilities and $273 set aside for maintenance.
What is the property tax rate in Concord?
Concord has an effective property tax rate of 0.812%, based on a median home value of $327,600 and median real estate taxes of $2,659. That is higher than the Mecklenburg County average of 0.749%.
What is the average home price in Concord?
The median owner-occupied home value in Concord, North Carolina is $327,600, against $371,200 across Mecklenburg County.
Is it cheaper to rent or buy in Concord?
Median gross rent in Concord is $1,365 a month, against $2,653 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 Concord?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Concord, North Carolina at today's rate takes a household income of roughly $113,500 a year. That covers the full $2,653 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Concord, 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.