Gates County, North Carolina home prices
Typical home $255,286 · +10.6% in a year · property tax 0.76%
The typical home in Gates County is worth $255,286, 23% less than the North Carolina typical home ($332,159). Values changed +10.6% in the past year and +46.6% over five years. Homeowners here pay a median 0.76% of their home's value in property tax each year ($1,937 on the typical home), versus 0.64% statewide.
Mortgage on the typical Gates County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $51,057 | $204,229 | $1,374 | $0 | $289 | $1,663 | $71,300 |
| 10% down | $25,529 | $229,757 | $1,546 | $96 | $289 | $1,930 | $82,700 |
| 5% down | $12,764 | $242,522 | $1,631 | $101 | $289 | $2,022 | $86,600 |
| 3.5% down (FHA) | $8,935 | $250,662 | $1,686 | $113 | $289 | $2,088 | $89,500 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.76% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
What it takes: see what you can afford by salary in North Carolina · part of the Virginia Beach metro area.
North Carolina counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| McDowell County | $256,108 | -2.5% | 0.53% |
| Burke County | $253,278 | +1.2% | 0.68% |
| Randolph County | $251,780 | +2.6% | 0.67% |
| Stokes County | $259,278 | +6.4% | 0.6% |
| Person County | $246,547 | +4.6% | 0.62% |
| Pasquotank County | $264,204 | +1.1% | 0.67% |
| Cherokee County | $264,815 | -0.2% | 0.46% |
| Alleghany County | $266,244 | +1.5% | 0.57% |
| Pitt County | $243,595 | +1.1% | 0.83% |
| Alexander County | $268,040 | +6.7% | 0.6% |
Frequently asked questions
What is the average home price in Gates County, NC?
The typical home value in Gates County is $255,286 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Gates County?
About $71,300 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Gates County?
The median effective rate is 0.76% of home value a year (Census ACS 2024 5-year estimates).