Total monthly cost of ownership
Cost to Own a Home in Banner Hill, Tennessee
A $121,000 home here costs
$1,017per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $622. The real number is $395 higher every month — 64% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Banner Hill against Unicoi County and Tennessee
| Measure | Banner Hill | Unicoi County |
|---|---|---|
| Median home value | $120,700 | $168,200 |
| Median property tax | $544 | $960 |
| Effective tax rate | 0.451% | 0.571% |
| Median gross rent | — | $665 |
| Population | 1,519 | 17,779 |
The weather behind that power bill
Banner Hill sits in Unicoi County, which averages a high of 85.4°F in its hottest month and a low of 24.5°F in its coldest, with 47" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 908 cooling and 4,390 heating degree days, which is what sets the $130 electricity line above.
See the full climate breakdown for Unicoi County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Unicoi County
Full Unicoi County cost breakdown · Every county in Tennessee
Common questions
How much does it cost to own a home in Banner Hill?
A $121,000 home in Banner Hill, Tennessee costs approximately $1,017 per month with 20% down at 6.66%. That is $622 principal and interest, $45 property tax, $51 homeowners insurance, $198 utilities and $101 set aside for maintenance.
What is the property tax rate in Banner Hill?
Banner Hill has an effective property tax rate of 0.451%, based on a median home value of $120,700 and median real estate taxes of $544. That is lower than the Unicoi County average of 0.571%.
What is the average home price in Banner Hill?
The median owner-occupied home value in Banner Hill, Tennessee is $120,700, against $168,200 across Unicoi County.
Is it cheaper to rent or buy in Banner Hill?
Rent data is not published for Banner Hill at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Banner Hill — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Tennessee.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.