Total monthly cost of ownership
Cost to Own a Home in Biltmore, Tennessee
A $118,000 home here costs
$1,016per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $607. The real number is $409 higher every month — 67% 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.
Biltmore against Carter County and Tennessee
| Measure | Biltmore | Carter County |
|---|---|---|
| Median home value | $117,800 | $157,200 |
| Median property tax | $758 | $833 |
| Effective tax rate | 0.643% | 0.530% |
| Median gross rent | $739 | $738 |
| Population | 1,998 | 56,462 |
The weather behind that power bill
Biltmore sits in Carter County, which averages a high of 85.5°F in its hottest month and a low of 25.5°F in its coldest, with 48.03" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,008 cooling and 4,303 heating degree days, which is what sets the $130 electricity line above.
See the full climate breakdown for Carter County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Carter County
Full Carter County cost breakdown · Every county in Tennessee
Common questions
How much does it cost to own a home in Biltmore?
A $118,000 home in Biltmore, Tennessee costs approximately $1,016 per month with 20% down at 6.66%. That is $607 principal and interest, $63 property tax, $50 homeowners insurance, $198 utilities and $98 set aside for maintenance.
What is the property tax rate in Biltmore?
Biltmore has an effective property tax rate of 0.643%, based on a median home value of $117,800 and median real estate taxes of $758. That is higher than the Carter County average of 0.530%.
What is the average home price in Biltmore?
The median owner-occupied home value in Biltmore, Tennessee is $117,800, against $157,200 across Carter County.
Is it cheaper to rent or buy in Biltmore?
Median gross rent in Biltmore is $739 a month, against $1,016 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Biltmore — 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.