Total monthly cost of ownership
Cost to Own a Home in Discovery Bay, California
A $789,000 home here costs
$5,965per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $255,500 a year.
A standard mortgage calculator would have told you $4,302. The real number is $1,663 higher every month, 39% more than the payment most buyers budget for.
Compare Contra Costa County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Discovery Bay against Contra Costa County and California
| Measure | Discovery Bay | Contra Costa County |
|---|---|---|
| Median home value | $789,400 | $830,800 |
| Median property tax | $7,994 | $6,903 |
| Effective tax rate | 1.013% | 0.831% |
| Median gross rent | $2,897 | $2,322 |
| Population | 15,243 | 1,161,458 |
The weather behind that power bill
Discovery Bay sits in Contra Costa County, which averages a high of 82.8°F in its hottest month and a low of 41.3°F in its coldest, with 26.05" of precipitation a year and 58% of it in a single three-month stretch. That climate drives 926 cooling and 3,309 heating degree days, which is what sets the $150 electricity line above.
See the full climate breakdown for Contra Costa County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Contra Costa County
Full Contra Costa County cost breakdown · Every county in California
Talk to someone who works this market
These are Discovery Bay averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Discovery Bay every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Discovery Bay I already own here and may sell
Common questions
How much does it cost to own a home in Discovery Bay?
A $789,000 home in Discovery Bay, California costs approximately $5,965 per month with 20% down at 7.24%. That is $4,302 principal and interest, $666 property tax, $122 homeowners insurance, $218 utilities and $658 set aside for maintenance.
What is the property tax rate in Discovery Bay?
Discovery Bay has an effective property tax rate of 1.013%, based on a median home value of $789,400 and median real estate taxes of $7,994. That is higher than the Contra Costa County average of 0.831%.
What is the average home price in Discovery Bay?
The median owner-occupied home value in Discovery Bay, California is $789,400, against $830,800 across Contra Costa County.
Is it cheaper to rent or buy in Discovery Bay?
Median gross rent in Discovery Bay is $2,897 a month, against $5,965 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Discovery Bay?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Discovery Bay, California at today's rate takes a household income of roughly $255,500 a year. That covers the full $5,965 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Discovery Bay, 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.