Total monthly cost of ownership
Cost to Own a Home in Elizabeth City, North Carolina
A $202,000 home here costs
$1,624per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,038. The real number is $585 higher every month — 56% 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.
Elizabeth City against Pasquotank County and North Carolina
| Measure | Elizabeth City | Pasquotank County |
|---|---|---|
| Median home value | $202,100 | $223,300 |
| Median property tax | $1,683 | $1,547 |
| Effective tax rate | 0.833% | 0.693% |
| Median gross rent | $1,111 | $1,146 |
| Population | 18,740 | 40,830 |
Elizabeth City extends across 2 counties. Figures here use Pasquotank County, where most of its housing sits.
The weather behind that power bill
Elizabeth City sits in Pasquotank County, which averages a high of 88.2°F in its hottest month and a low of 33.1°F in its coldest, with 46.51" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,759 cooling and 3,053 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Pasquotank County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Pasquotank County
No other places of this size are published in Pasquotank County.
Full Pasquotank County cost breakdown · Every county in North Carolina
Common questions
How much does it cost to own a home in Elizabeth City?
A $202,000 home in Elizabeth City, North Carolina costs approximately $1,624 per month with 20% down at 6.66%. That is $1,038 principal and interest, $140 property tax, $73 homeowners insurance, $204 utilities and $168 set aside for maintenance.
What is the property tax rate in Elizabeth City?
Elizabeth City has an effective property tax rate of 0.833%, based on a median home value of $202,100 and median real estate taxes of $1,683. That is higher than the Pasquotank County average of 0.693%.
What is the average home price in Elizabeth City?
The median owner-occupied home value in Elizabeth City, North Carolina is $202,100, against $223,300 across Pasquotank County.
Is it cheaper to rent or buy in Elizabeth City?
Median gross rent in Elizabeth City is $1,111 a month, against $1,624 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 Elizabeth City — 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.