Total monthly cost of ownership
Cost to Own a Home in Erwin, Tennessee
A $165,000 home here costs
$1,355per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $848. The real number is $507 higher every month — 60% 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.
Erwin against Unicoi County and Tennessee
| Measure | Erwin | Unicoi County |
|---|---|---|
| Median home value | $165,100 | $168,200 |
| Median property tax | $1,221 | $960 |
| Effective tax rate | 0.740% | 0.571% |
| Median gross rent | $602 | $665 |
| Population | 6,001 | 17,779 |
The weather behind that power bill
Erwin 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 Erwin?
A $165,000 home in Erwin, Tennessee costs approximately $1,355 per month with 20% down at 6.66%. That is $848 principal and interest, $102 property tax, $69 homeowners insurance, $198 utilities and $138 set aside for maintenance.
What is the property tax rate in Erwin?
Erwin has an effective property tax rate of 0.740%, based on a median home value of $165,100 and median real estate taxes of $1,221. That is higher than the Unicoi County average of 0.571%.
What is the average home price in Erwin?
The median owner-occupied home value in Erwin, Tennessee is $165,100, against $168,200 across Unicoi County.
Is it cheaper to rent or buy in Erwin?
Median gross rent in Erwin is $602 a month, against $1,355 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 Erwin — 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.