Total monthly cost of ownership
Cost to Own a Home in Gilroy, California
A $976,000 home here costs
$7,017per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $5,018. The real number is $1,999 higher every month — 40% 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.
Gilroy against Santa Clara County and California
| Measure | Gilroy | Santa Clara County |
|---|---|---|
| Median home value | $975,800 | $1,382,800 |
| Median property tax | $8,014 | $9,766 |
| Effective tax rate | 0.821% | 0.706% |
| Median gross rent | $2,270 | $2,814 |
| Population | 58,561 | 1,903,297 |
The weather behind that power bill
Gilroy sits in Santa Clara County, which averages a high of 81.4°F in its hottest month and a low of 41.7°F in its coldest, with 13.48" of precipitation a year and 58% of it in a single three-month stretch. That climate drives 624 cooling and 2,184 heating degree days, which is what sets the $299 electricity line above.
See the full climate breakdown for Santa Clara County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Santa Clara County
Full Santa Clara County cost breakdown · Every county in California
Common questions
How much does it cost to own a home in Gilroy?
A $976,000 home in Gilroy, California costs approximately $7,017 per month with 20% down at 6.66%. That is $5,018 principal and interest, $668 property tax, $151 homeowners insurance, $367 utilities and $813 set aside for maintenance.
What is the property tax rate in Gilroy?
Gilroy has an effective property tax rate of 0.821%, based on a median home value of $975,800 and median real estate taxes of $8,014. That is higher than the Santa Clara County average of 0.706%.
What is the average home price in Gilroy?
The median owner-occupied home value in Gilroy, California is $975,800, against $1,382,800 across Santa Clara County.
Is it cheaper to rent or buy in Gilroy?
Median gross rent in Gilroy is $2,270 a month, against $7,017 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 Gilroy — 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.