Total monthly cost of ownership
Cost to Own a Home in Bishop, California
A $406,000 home here costs
$3,046per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,087. The real number is $958 higher every month — 46% 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.
Bishop against Inyo County and California
| Measure | Bishop | Inyo County |
|---|---|---|
| Median home value | $405,700 | $338,400 |
| Median property tax | $2,279 | $2,392 |
| Effective tax rate | 0.562% | 0.707% |
| Median gross rent | $1,431 | $1,140 |
| Population | 3,793 | 18,803 |
The weather behind that power bill
Bishop sits in Inyo County, which averages a high of 114.9°F in its hottest month and a low of 41.0°F in its coldest, with 1.95" of precipitation a year and 51% of it in a single three-month stretch. That climate drives 5,533 cooling and 1,119 heating degree days, which is what sets the $299 electricity line above.
See the full climate breakdown for Inyo County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Inyo County
Full Inyo County cost breakdown · Every county in California
Common questions
How much does it cost to own a home in Bishop?
A $406,000 home in Bishop, California costs approximately $3,046 per month with 20% down at 6.66%. That is $2,087 principal and interest, $190 property tax, $63 homeowners insurance, $367 utilities and $338 set aside for maintenance.
What is the property tax rate in Bishop?
Bishop has an effective property tax rate of 0.562%, based on a median home value of $405,700 and median real estate taxes of $2,279. That is lower than the Inyo County average of 0.707%.
What is the average home price in Bishop?
The median owner-occupied home value in Bishop, California is $405,700, against $338,400 across Inyo County.
Is it cheaper to rent or buy in Bishop?
Median gross rent in Bishop is $1,431 a month, against $3,046 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 Bishop — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for California.
- 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.