Total monthly cost of ownership
Cost to Own a Home in Chapel Hill, Tennessee
A $277,000 home here costs
$2,090per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,424. The real number is $666 higher every month — 47% 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.
Chapel Hill against Marshall County and Tennessee
| Measure | Chapel Hill | Marshall County |
|---|---|---|
| Median home value | $276,700 | $246,100 |
| Median property tax | $1,446 | $1,334 |
| Effective tax rate | 0.523% | 0.542% |
| Median gross rent | $1,150 | $924 |
| Population | 1,531 | 35,276 |
The weather behind that power bill
Chapel Hill sits in Marshall County, which averages a high of 91.0°F in its hottest month and a low of 27.5°F in its coldest, with 56.07" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 1,568 cooling and 3,714 heating degree days, which is what sets the $130 electricity line above.
See the full climate breakdown for Marshall County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Marshall County
Full Marshall County cost breakdown · Every county in Tennessee
Common questions
How much does it cost to own a home in Chapel Hill?
A $277,000 home in Chapel Hill, Tennessee costs approximately $2,090 per month with 20% down at 6.66%. That is $1,424 principal and interest, $121 property tax, $117 homeowners insurance, $198 utilities and $231 set aside for maintenance.
What is the property tax rate in Chapel Hill?
Chapel Hill has an effective property tax rate of 0.523%, based on a median home value of $276,700 and median real estate taxes of $1,446. That is lower than the Marshall County average of 0.542%.
What is the average home price in Chapel Hill?
The median owner-occupied home value in Chapel Hill, Tennessee is $276,700, against $246,100 across Marshall County.
Is it cheaper to rent or buy in Chapel Hill?
Median gross rent in Chapel Hill is $1,150 a month, against $2,090 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 Chapel 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.