Total monthly cost of ownership
Cost to Own a Home in Fair Oaks, California
A $646,000 home here costs
$4,764per 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 $204,000 a year.
A standard mortgage calculator would have told you $3,522. The real number is $1,242 higher every month, 35% more than the payment most buyers budget for.
Compare Sacramento 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.
Fair Oaks against Sacramento County and California
| Measure | Fair Oaks | Sacramento County |
|---|---|---|
| Median home value | $645,600 | $498,900 |
| Median property tax | $4,622 | $3,768 |
| Effective tax rate | 0.716% | 0.755% |
| Median gross rent | $1,797 | $1,702 |
| Population | 32,030 | 1,584,047 |
The weather behind that power bill
Fair Oaks sits in Sacramento County, which averages a high of 94.4°F in its hottest month and a low of 40.7°F in its coldest, with 19.2" of precipitation a year and 57% of it in a single three-month stretch. That climate drives 1,576 cooling and 2,139 heating degree days, which is what sets the $150 electricity line above.
See the full climate breakdown for Sacramento County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sacramento County
Full Sacramento County cost breakdown · Every county in California
Talk to someone who works this market
These are Fair Oaks 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 Fair Oaks every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Fair Oaks I already own here and may sell
Common questions
How much does it cost to own a home in Fair Oaks?
A $646,000 home in Fair Oaks, California costs approximately $4,764 per month with 20% down at 7.24%. That is $3,522 principal and interest, $385 property tax, $100 homeowners insurance, $218 utilities and $538 set aside for maintenance.
What is the property tax rate in Fair Oaks?
Fair Oaks has an effective property tax rate of 0.716%, based on a median home value of $645,600 and median real estate taxes of $4,622. That is lower than the Sacramento County average of 0.755%.
What is the average home price in Fair Oaks?
The median owner-occupied home value in Fair Oaks, California is $645,600, against $498,900 across Sacramento County.
Is it cheaper to rent or buy in Fair Oaks?
Median gross rent in Fair Oaks is $1,797 a month, against $4,764 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 Fair Oaks?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Fair Oaks, California at today's rate takes a household income of roughly $204,000 a year. That covers the full $4,764 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Fair Oaks, 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.