Total monthly cost of ownership
Cost to Own a Home in Raeford, North Carolina
A $178,000 home here costs
$1,436per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $915. The real number is $521 higher every month — 57% 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.
Raeford against Hoke County and North Carolina
| Measure | Raeford | Hoke County |
|---|---|---|
| Median home value | $177,900 | $196,000 |
| Median property tax | $1,251 | $1,357 |
| Effective tax rate | 0.703% | 0.692% |
| Median gross rent | $791 | $1,047 |
| Population | 4,545 | 53,102 |
The weather behind that power bill
Raeford sits in Hoke County, which averages a high of 89.5°F in its hottest month and a low of 29.7°F in its coldest, with 48.56" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,648 cooling and 3,280 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Hoke County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hoke County
Full Hoke County cost breakdown · Every county in North Carolina
Common questions
How much does it cost to own a home in Raeford?
A $178,000 home in Raeford, North Carolina costs approximately $1,436 per month with 20% down at 6.66%. That is $915 principal and interest, $104 property tax, $65 homeowners insurance, $204 utilities and $148 set aside for maintenance.
What is the property tax rate in Raeford?
Raeford has an effective property tax rate of 0.703%, based on a median home value of $177,900 and median real estate taxes of $1,251. That is higher than the Hoke County average of 0.692%.
What is the average home price in Raeford?
The median owner-occupied home value in Raeford, North Carolina is $177,900, against $196,000 across Hoke County.
Is it cheaper to rent or buy in Raeford?
Median gross rent in Raeford is $791 a month, against $1,436 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 Raeford — 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.