Total monthly cost of ownership
Cost to Own a Home in Flat Rock, North Carolina
A $564,000 home here costs
$4,204per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $180,000 a year.
A standard mortgage calculator would have told you $3,075. The real number is $1,129 higher every month, 37% more than the payment most buyers budget for.
Compare Henderson County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Flat Rock from a five-year rolling sample, and with about 3,502 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Henderson County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Flat Rock against Henderson County and North Carolina
| Measure | Flat Rock | Henderson County |
|---|---|---|
| Median home value | $563,600 | $317,800 |
| Median property tax | $2,818 | $1,667 |
| Effective tax rate | 0.500% | 0.525% |
| Median gross rent | $971 | $1,120 |
| Population | 3,502 | 117,387 |
The weather behind that power bill
Flat Rock sits in Henderson County, which averages a high of 84.5°F in its hottest month and a low of 26.5°F in its coldest, with 59.05" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 897 cooling and 4,168 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Henderson County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Henderson County
Full Henderson County cost breakdown · Every county in North Carolina
Talk to someone who works this market
These are Flat Rock 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 Flat Rock every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Flat Rock I already own here and may sell
Common questions
How much does it cost to own a home in Flat Rock?
A $564,000 home in Flat Rock, North Carolina costs approximately $4,204 per month with 20% down at 7.24%. That is $3,075 principal and interest, $235 property tax, $204 homeowners insurance, $220 utilities and $470 set aside for maintenance.
What is the property tax rate in Flat Rock?
Flat Rock has an effective property tax rate of 0.500%, based on a median home value of $563,600 and median real estate taxes of $2,818. That is lower than the Henderson County average of 0.525%.
What is the average home price in Flat Rock?
The median owner-occupied home value in Flat Rock, North Carolina is $563,600, against $317,800 across Henderson County.
Is it cheaper to rent or buy in Flat Rock?
Median gross rent in Flat Rock is $971 a month, against $4,204 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 Flat Rock?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Flat Rock, North Carolina at today's rate takes a household income of roughly $180,000 a year. That covers the full $4,204 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Flat Rock, 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.