Total monthly cost of ownership
Cost to Own a Home in Erwin, Tennessee
A $165,000 home here costs
$1,431per 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 $61,500 a year.
A standard mortgage calculator would have told you $900. The real number is $532 higher every month, 59% more than the payment most buyers budget for.
Compare Unicoi 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.
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 $155 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
Talk to someone who works this market
These are Erwin 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 Erwin every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Erwin?
A $165,000 home in Erwin, Tennessee costs approximately $1,431 per month with 20% down at 7.24%. That is $900 principal and interest, $102 property tax, $69 homeowners insurance, $223 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 $1,431 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 Erwin?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Erwin, Tennessee at today's rate takes a household income of roughly $61,500 a year. That covers the full $1,431 monthly cost, not just the mortgage payment.
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.