The average cost of living here is above the national average by roughly 15%, and the median home price is $325,000.  There are a few single family dwellings scattered about for less than $200,000, but expect to pay at least in the mid-$200,000s for an attractive, well-maintained home with more than 1,200 sq. ft.  It is possible to pay much, much more as Black Mountain has some spectacular residences.  Nearly all homes sit on wooded lots, and most are tucked away in the hills surrounding the town.    A number of planned neighborhoods, including exclusive The Village of Cheshire, have single family homes from the high $300,000s to more than $1 million.  Gated Catawba Falls is a new community offering mountain lots from $150,000.  

There are some condos and town homes in and around town; these are generally priced from the mid-$200,000s and up.   Black Mountain and the surrounding area is popular with vacationers, and so there are a lot of vacation rental properties.  Most of these are short-term, a week at a time, but a handful have month-long or longer leases, making Black Mountain a possible part-time retirement spot without purchasing real estate.  There are also a few apartments available; rents average $800 or so a month.  Highland Farms is a continuing care retirement community with apartments, condominiums and a few single family homes.

This is an interactive map.  Click on the arrows in the upper left hand corner to move the map to the East, West, North or South, and click (more than once if necessary) on the +/- signs to zoom in and out.

Black Mountain property tax, when combined with the county tax, is assessed at .84 per $100 in valuation, and homes are assessed at 100% of appraised value.   The annual taxes on a $350,000 home would be $2,940.  For anyone 65 or better and/or permanently disabled and whose annual income is less than $25,600, the greater of $25,000 or 50% of the appraised value of the home is excluded from the assessment.  The state also has a circuit breaker property tax deferment program under which taxes for each year are limited to a percentage of the qualifying owner's income.  For those 65 years of age or permanently disabled and whose income does not exceed $25,600, the owner's taxes will be limited to 4% of the owner's income.  

Social Security is exempt from state taxes, and at least $4,000  in federal, state and local pensions (depending on dates and length of service), as well as up to $2,000 for qualified private pensions, including IRAs, is also exempt. Out-of-state government pensions qualify for the $4,000 exemption as well.

Black Mountain, North Carolina, Continued....