Current Avg. Rates: 6.46% 30-yr fixed|5.77% 15-yr fixed
Source: Freddie Mac Primary Mortgage Market Survey
Source: Freddie Mac Primary Mortgage Market Survey
Atlanta vs Charlotte: Mortgage Cost Comparison
Thinking about buying in Atlanta or Charlotte? Here's a side-by-side comparison of mortgage costs in both cities.
$2,505
Atlanta PITI
$2,357
Charlotte PITI
$148/mo
Difference
Your Monthly Payment (PITI)
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Principal + Interest + Tax + Insurance
Monthly Breakdown
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Property Tax
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Insurance
Loan Overview
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Total Interest
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Payoff Date
Bi-Weekly Option
? Pay half your monthly payment every two weeks — you'll make 26 half-payments (13 full payments) per year instead of 12
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Bi-Weekly Payment
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Total Interest
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Payoff Date
Atlanta vs Charlotte: Full Mortgage Comparison
Buying a home in Charlotte is $148/month cheaper based on average home prices and local costs.
| Atlanta, GA | Charlotte, NC | |
|---|---|---|
| Avg. Home Price | $390,000 | $380,000 |
| Down Payment (20%) | $78,000 | $76,000 |
| Loan Amount | $312,000 | $304,000 |
| Property Tax Rate | 1.05% | 0.85% |
| Annual Property Tax | $4,095 | $3,230 |
| Annual Insurance | $2,300 | $2,000 |
| Monthly P&I | $1,972 | $1,921 |
| Monthly PITI | $2,505 | $2,357 |
| Total Interest (30yr) | $397,939 | $387,735 |
What Drives the Difference?
Home prices are the biggest factor — Atlanta’s average home costs $10,000 more than Charlotte’s.
Property taxes also favor Charlotte — Atlanta’s 1.05% rate is higher than Charlotte’s 0.85%.
Insurance is $300/year more in Atlanta.
Income Needed to Buy
Using the 28% rule (PITI under 28% of gross income):
| Atlanta | Charlotte | |
|---|---|---|
| Monthly PITI | $2,505 | $2,357 |
| Income needed | $107,356 | $101,028 |
Try Your Own Numbers
The calculator above is pre-filled with Atlanta’s averages. Adjust the values to match your situation, or try the Charlotte calculator for Charlotte-specific numbers.