Home Affordability in Fayetteville, NC
The median home price in Fayetteville is $205,000 with a median household income of $44,541. Housing is moderately affordable relative to local incomes.
Median Home Price
$205,000
Median Income
$44,541
Price-to-Income Ratio
4.6x
Est. Affordable Home
$173,000
Property Tax Rate
0.93%
Annual Property Tax
$1,906
Sales Tax Rate
6.75%
Cost of Living Index
86
Buying a Home in Fayetteville
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $44,541 in Fayetteville can afford a monthly housing payment of approximately $1,039. This translates to a home price of roughly $173,000, which is below the median home price of $205,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Fayetteville would be approximately $1,906 per year ($159/month) at the effective rate of 0.93%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $6,150 | $198,850 | Yes |
| 5% | $10,250 | $194,750 | Yes |
| 10% | $20,500 | $184,500 | Yes |
| 20% | $41,000 | $164,000 | No |
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