1st Advantage MortgageThe median Gates County household earns $66,333, and 9% of residents live below the poverty line. A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's North Carolina license first.
On this page
- Gates County at a glance
- How Gates County residents earn a living
- Income in Gates County compared with North Carolina
- Gates County housing compared with North Carolina
- Gates County and the counties next door
- Cities, towns and CDPs in Gates County
- Budget math at the Gates County median
- Borrowing situations common in Gates County
- Gates County residents: age, schooling, coverage
- Four steps for Gates County borrowers
- Checking a lender's license in North Carolina
- More guides for Gates County
- Frequently asked questions
Gates County at a glance
Gates County is home to about 10,376 people, according to the Census Bureau's 2020 to 2024 American Community Survey, which makes it the 96th most populous of 100 county-level areas in North Carolina. It covers 341 square miles of land, or about 30 people per square mile. For statistical purposes it belongs to the Virginia Beach-Chesapeake-Norfolk, VA-NC metro area, as delineated by the Office of Management and Budget in July 2023. Of the 2 Census places inside Gates County, Gatesville leads by population with about 320; 1 of the 2 are incorporated.
How Gates County residents earn a living
The biggest employer of Gates County residents, by industry, is education and health care at 19% of workers, followed by manufacturing (15%). Compared with North Carolina, the county leans toward construction (11% against 7%). The survey's unemployment rate for Gates County averages 5.9% over 2020 to 2024 (state: 4.7%). Long commutes are common here: 41% of workers spend 45 minutes or longer getting to work. Households without a car make up 2.3% of the total (5.3% statewide).
| Top industries | Gates County share | +/- vs North Carolina |
|---|---|---|
| Education and health care | 19.5% | -3.1 pts |
| Manufacturing | 14.5% | +2.9 pts |
| Retail trade | 12.4% | +1.2 pts |
| Construction | 10.6% | +3.2 pts |
| Professional and administrative services | 9.3% | -3.3 pts |
| Transportation, warehousing and utilities | 8.3% | +2.9 pts |
Industry shapes paperwork. Salaried and public jobs are easy to verify, while hourly, tipped, commission or contract earners in Gates County should have bank statements and tax returns ready.
Income in Gates County compared with North Carolina
At $66,333, the typical Gates County household income sits near the median U.S. county ($65,681). In the state ranking that is 33rd of 100.
| Household income | Gates County | vs North Carolina |
|---|---|---|
| Under $35,000 | 25.5% | +2.3 pts |
| $35,000 to $99,999 | 49.7% | +8.2 pts |
| $100,000 to $199,999 | 22.7% | -2.3 pts |
| $200,000 or more | 2.1% | -8.3 pts |
Some 26% of households here live on less than $35,000 a year; 25% have six-figure incomes. The poverty rate is 9.4%, 4 points lower than the state's 13.0%. Income inequality, measured by the Gini index, comes to 0.383 here. For a borrower in Gates County, the county median is only context: a lender looks at the income you can document, so pay stubs, benefit letters or tax returns matter more than any average.
Gates County housing compared with North Carolina
A typical Gates County rental runs $1,143 a month including utilities, which is 7% below North Carolina. Rent takes 30% or more of income for 26% of renter households here. With a median value of $170,800, a typical Gates County house costs 2.6 times what the median household earns in a year. Owners occupy 81% of homes.
| Gates County | North Carolina | U.S. county median | |
|---|---|---|---|
| Median gross rent | $1,143/mo | $1,228/mo | $877/mo |
| Median home value | $170,800 | $288,900 | $185,300 |
| Owners | 81% | 67% | 75% |
| Rent-burdened renters | 26% | 49% | 45% |
| Burdened owners | 36% | 25% | n/a |
Because most Gates County households own, home repairs are a frequent reason to borrow. An unsecured personal loan leaves the house out of the deal, while a HELOC uses it as collateral.
Gates County and the counties next door
The six counties whose centers lie closest to Gates County's, from 16 to 27 miles away. Suffolk city leads the group on income ($92,666), Hertford County trails ($45,537), and Gates County out-earns 3 of the six. Some neighbors are in Virginia. Lender licensing is state by state, so a loan for a Gates County resident follows North Carolina rules.
| Neighbor | Distance | Income | Rent | Own |
|---|---|---|---|---|
| Gates County | - | $66,333 | $1,143/mo | 81% |
| Hertford County, NC | 16 mi | $45,537 | $844/mo | 67% |
| Suffolk city, VA | 18 mi | $92,666 | $1,563/mo | 71% |
| Franklin city, VA | 21 mi | $63,245 | $988/mo | 54% |
| Chowan County, NC | 22 mi | $53,864 | $681/mo | 71% |
| Perquimans County, NC | 25 mi | $67,917 | $1,008/mo | 77% |
| Pasquotank County, NC | 27 mi | $66,589 | $1,170/mo | 67% |
Cities, towns and CDPs in Gates County
The table lists the 2 largest of 2 Census places in Gates County, by population. Together all 2 hold about 571 people, so roughly 94% of residents live outside any named place. This guide covers each of the 2 places and the rural areas around them.
| Name | Kind | Pop. | Income | Rent | Miles |
|---|---|---|---|---|---|
| Gatesville | town | 320 | $73,611 | $950 | 4 mi |
| Sunbury | CDP | 251 | $62,902 | n/a | 5 mi |
A CDP is a named community without its own municipal government.
Budget math at the Gates County median
Here is the Gates County median household run through a simple DTI check. Your numbers will differ.
- $66,333 a year is $5,528 of gross monthly income
- Rent at the median, $1,143, takes 21% of that
- 35% debt-to-income limit: $792 left for all other debt payments
- $1,344: what a 45% ratio leaves once rent is paid
Car, student loan and card payments come out of that room first. Try your own numbers in the calculator.
Borrowing situations common in Gates County
Based on the Gates County data above, these borrowing questions are most likely to matter locally.
- Commuter costs. 41% drive 45 minutes or more. Compare shop financing with a loan, and keep a small repair fund.
- Mobile home upkeep. 38% of units fall in this category; roof, skirting and HVAC jobs are common reasons to borrow.
- Retirees. At a median age of 47.6, many borrowers here rely on award letters as proof of income; favor no prepayment penalty.
Gates County residents: age, schooling, coverage
11% of Gates County adults 25 and older hold a bachelor's degree or more. 6.2% of residents have no health coverage.
| People and households | Gates County | North Carolina | Median county |
|---|---|---|---|
| Median age | 47.6 | 39.1 | 41.5 |
| Bachelor's or higher | 10.9% | 35.7% | 22.2% |
| No high school diploma | 9.9% | 9.9% | n/a |
| No health insurance | 6.2% | 9.9% | 7.8% |
| No vehicle | 2.3% | 5.3% | 5.4% |
| Work from home | 4.5% | 16.3% | 8.7% |
| Poverty rate | 9.4% | 13.0% | 13.2% |
| Unemployment (ACS) | 5.9% | 4.7% | 4.4% |
| Minutes to work | Gates County workers |
|---|---|
| Under 15 min | 9.6% |
| 15 to 29 min | 24.1% |
| 30 to 44 min | 25.6% |
| 45 to 59 min | 13.4% |
| 60+ min | 27.2% |
Four steps for Gates County borrowers
Four checks before you sign anything:
- Get a written quote for whatever you are paying for in Gates County.
- Collect three written offers and compare APR and total repaid.
- Verify the North Carolina license before giving out your Social Security number.
- Ask a Gates County credit union about member loans.
Checking a lender's license in North Carolina
Licensing happens at the state level, so a lender working with Gates County borrowers answers to the North Carolina Office of the Commissioner of Banks. A CFPB complaint gets forwarded to the company for a response. More on North Carolina: North Carolina personal loans.
More guides for Gates County
The North Carolina guide covers the whole state.
Frequently asked questions
What does a typical Gates County household make?
About $66,333 a year at the median (ACS 2020-24), 8% below the North Carolina median.
What do renters pay in Gates County?
$1,143 a month at the median, about 21% of median household income.
Should Gates County homeowners use home equity instead?
Maybe, but weigh the risk: 81% of Gates County homes are owner-occupied, and a home-equity loan or line is secured by the house while a personal loan usually is not.
What are the biggest places in Gates County?
By population: Gatesville, Sunbury. The county has 2 Census places in all.
Can Gates County residents use the questionnaire?
Yes. It asks the same questions in every North Carolina county, lists every requirement up front and does not affect your credit score.