North Carolina is known for its tar and mineral production, regional food, and institutions of higher education. From the chilly mountains to the warm, beckoning beaches, North Carolina has the best places perfect for first-time homebuyers and retirees. If you’re ready to move to the Tar Heel State, New Home Source has compiled a list of the 10 most affordable cities to help inform your choice.
10 Most Affordable Cities
Home Price to Income Ratio: 2.51
Average Property Tax: $823
Median Household Income: $34,917
The top spot on our list of most affordable cities goes to Eden. With over 15,000 residents calling it home, Eden is the largest city in Rockingham County. Learn about local history at the Eden Historical Museum or go hiking at Matrimony Creek Greenway.
Home Price to Income Ratio: 3.19
Average Property Tax: $951
Median Household Income: $31,408
Henderson, the seat of Vance County, serves up a variety of restaurants, retail stores, and parks. If you’re looking for a weekend getaway, Kerr Lake and the surrounding campgrounds are a mere seven miles north of the city.
Home Price to Income Ratio: 3.48
Average Property Tax: $771
Median Household Income: $29,938
Lexington is located approximately 60 miles northeast of Charlotte. The athletically inclined will be pleased to know that Lexington is home to golf courses and a swim club. You’ll also find amenities such as a drive-in movie theater, a local history museum, and a regional airport.
Home Price to Income Ratio: 2.87
Average Property Tax: $864
Median Household Income: $40,648
Thomasville is home to over 27,000 residents. Like Lexington and High Point, Thomasville is renowned for its contributions to the furniture industry. Strolling through downtown Thomasville, you can gaze upon historical buildings and landmarks. If the mood strikes, catch a live performance at one of their amphitheaters.
Home Price to Income Ratio: 3.16
Average Property Tax: $1,052
Median Household Income: $38,211
Asheboro is the seat of Randolph County and is best known for the North Carolina Zoo, featuring over 1,600 animals. Enjoy visiting the multitude of parks throughout the city, as well as many unique attractions.
Home Price to Income Ratio: 3.77
Average Property Tax: $1,401
Median Household Income: $29,738
If you love the thought of living in a small town then Tarboro may be ideal – only 10,000 call it home. On warm days, you can enjoy fishing at Indian Lake and participate in a multitude of recreational activities at the adjacent Indian Lakes Sports Complex. If you prefer indoor comfort, check out the art galleries at Blount-Bridgers House.
Home Price to Income Ratio: 3.03
Average Property Tax: $1,479
Median Household Income: $46,915
With over 30,000 residents, Sanford is one of the larger cities on our list. You’ll find all the urban amenities here, including parks, restaurants, medical centers, and places of worship.
Home Price to Income Ratio: 3.08
Average Property Tax: $1,110
Median Household Income: $33,066
Kinston is located in Lenoir County in eastern North Carolina. Downtown Kinston is a thriving scene of restaurants, history museums, art galleries, and even a fire station museum. Need to cool down? Dive into Lions Water Adventure, a waterpark that’s packed with fun for the entire family.
9. Rocky Mount
Home Price to Income Ratio: 2.78
Average Property Tax: $1,414
Median Household Income: $40,633
With a population of 54,000, Rocky Mount is the most populated city on our list. The Tar River winds its way through the city, and you can check out waterside attractions like Rocky Mount Mills, an 82-acre former cotton mill turned into an urban space for restaurants, breweries, and residencies. Further in town, you can enjoy performance arenas, a children’s museum, and much more!
Home Price to Income Ratio: 3.20
Average Property Tax: $973
Median Household Income: $32,339
Rounding out our top 10 is Reidsville, located in Rockingham County. One highlight is Lake Reidsville and the surrounding parks, where you can enjoy camping, fishing, and boating. If you want to take a trip to a big city, Greensboro is a mere 24 miles south, making weekend jaunts a breeze.
Cities with the Best Home Price to Income Ratio
While the list above is sorted by the lowest overall cost of living index, the following cities have the lowest home price to income ratio, meaning you can get more home for your money.
Sarah graduated from Trinity University in 2012 with a degree in International Relations and Political Science. She writes blogs on new homes, decor, communities, and more for NewHomeSource. When she’s not writing, you can find her spending time with her three cats.