Total monthly cost of ownership
Cost to Own a Home in Red Springs, North Carolina
A $85,000 home here costs
$855per 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 $36,500 a year.
A standard mortgage calculator would have told you $463. The real number is $392 higher every month, 84% more than the payment most buyers budget for.
Compare Robeson County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Red Springs from a five-year rolling sample, and with about 3,107 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 Robeson 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.
Red Springs against Robeson County and North Carolina
| Measure | Red Springs | Robeson County |
|---|---|---|
| Median home value | $85,400 | $88,600 |
| Median property tax | $846 | $799 |
| Effective tax rate | 0.991% | 0.902% |
| Median gross rent | $635 | $784 |
| Population | 3,107 | 116,858 |
Red Springs extends across 2 counties. Figures here use Robeson County, where most of its housing sits.
The weather behind that power bill
Red Springs sits in Robeson County, which averages a high of 91.0°F in its hottest month and a low of 35.3°F in its coldest, with 42.62" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 2,087 cooling and 2,609 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Robeson County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Robeson County
Full Robeson County cost breakdown · Every county in North Carolina
Talk to someone who works this market
These are Red Springs 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 Red Springs every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Red Springs I already own here and may sell
Common questions
How much does it cost to own a home in Red Springs?
A $85,000 home in Red Springs, North Carolina costs approximately $855 per month with 20% down at 7.24%. That is $463 principal and interest, $70 property tax, $31 homeowners insurance, $220 utilities and $71 set aside for maintenance.
What is the property tax rate in Red Springs?
Red Springs has an effective property tax rate of 0.991%, based on a median home value of $85,400 and median real estate taxes of $846. That is higher than the Robeson County average of 0.902%.
What is the average home price in Red Springs?
The median owner-occupied home value in Red Springs, North Carolina is $85,400, against $88,600 across Robeson County.
Is it cheaper to rent or buy in Red Springs?
Median gross rent in Red Springs is $635 a month, against $855 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 Red Springs?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Red Springs, North Carolina at today's rate takes a household income of roughly $36,500 a year. That covers the full $855 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Red Springs, 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.