For context, I just closed on a house here in Troy (inside town limits, but just barely).
Home is approximately 1,650 sq. feet with a 500 sq. foot finished basement and a screened in back deck with 2 car attached carport on 1.05 acres of land. Town sewer and water...I got it for a little over 146. House was built in 1965 but is in really good shape for the age. If I didn't work in Montgomery County, I would have probably searched around Asheboro. It's really growing up that way and there is quite a bit to do.
Land really isn't too expensive around here, if you look away from the lakes. If you look in the Montgomery area, be prepared to drive a bit to get stuff. Asheboro and Albemarle are about 30 minutes from Troy, Pinehurst is closer to 40. Greensboro is a little less than an hour, and Charlotte/Raleigh are around an hour and a half. It's really not a bad area to live. Cost of living isn't through the roof like some places, and the people are nice.