Total monthly cost of ownership
Cost to Own a Home in Granite Falls, North Carolina
A $203,000 home here costs
$1,701per 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 $73,000 a year.
A standard mortgage calculator would have told you $1,107. The real number is $594 higher every month, 54% more than the payment most buyers budget for.
Compare Caldwell County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Granite Falls from a five-year rolling sample, and with about 4,921 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 Caldwell 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.
Granite Falls against Caldwell County and North Carolina
| Measure | Granite Falls | Caldwell County |
|---|---|---|
| Median home value | $203,100 | $174,000 |
| Median property tax | $1,577 | $1,112 |
| Effective tax rate | 0.776% | 0.639% |
| Median gross rent | $845 | $735 |
| Population | 4,921 | 80,618 |
The weather behind that power bill
Granite Falls sits in Caldwell County, which averages a high of 87.5°F in its hottest month and a low of 27.3°F in its coldest, with 49.66" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,289 cooling and 3,851 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Caldwell County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Caldwell County
Full Caldwell County cost breakdown · Every county in North Carolina
Talk to someone who works this market
These are Granite Falls 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 Granite Falls every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Granite Falls I already own here and may sell
Common questions
How much does it cost to own a home in Granite Falls?
A $203,000 home in Granite Falls, North Carolina costs approximately $1,701 per month with 20% down at 7.24%. That is $1,107 principal and interest, $131 property tax, $74 homeowners insurance, $220 utilities and $169 set aside for maintenance.
What is the property tax rate in Granite Falls?
Granite Falls has an effective property tax rate of 0.776%, based on a median home value of $203,100 and median real estate taxes of $1,577. That is higher than the Caldwell County average of 0.639%.
What is the average home price in Granite Falls?
The median owner-occupied home value in Granite Falls, North Carolina is $203,100, against $174,000 across Caldwell County.
Is it cheaper to rent or buy in Granite Falls?
Median gross rent in Granite Falls is $845 a month, against $1,701 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 Granite Falls?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Granite Falls, North Carolina at today's rate takes a household income of roughly $73,000 a year. That covers the full $1,701 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Granite Falls, 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.