Total monthly cost of ownership
Cost to Own a Home in Governors Club, North Carolina
A $909,000 home here costs
$6,779per 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 $290,500 a year.
A standard mortgage calculator would have told you $4,956. The real number is $1,823 higher every month, 37% more than the payment most buyers budget for.
Compare Chatham County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Governors Club from a five-year rolling sample, and with about 1,772 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Chatham County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Governors Club against Chatham County and North Carolina
| Measure | Governors Club | Chatham County |
|---|---|---|
| Median home value | $908,500 | $397,800 |
| Median property tax | $6,196 | $2,671 |
| Effective tax rate | 0.682% | 0.671% |
| Median gross rent | — | $1,066 |
| Population | 1,772 | 78,319 |
The weather behind that power bill
Governors Club sits in Chatham County, which averages a high of 89.6°F in its hottest month and a low of 31.7°F in its coldest, with 43.56" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,652 cooling and 3,239 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Chatham County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Chatham County
Full Chatham County cost breakdown · Every county in North Carolina
Talk to someone who works this market
These are Governors Club 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 Governors Club every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Governors Club I already own here and may sell
Common questions
How much does it cost to own a home in Governors Club?
A $909,000 home in Governors Club, North Carolina costs approximately $6,779 per month with 20% down at 7.24%. That is $4,956 principal and interest, $517 property tax, $330 homeowners insurance, $220 utilities and $758 set aside for maintenance.
What is the property tax rate in Governors Club?
Governors Club has an effective property tax rate of 0.682%, based on a median home value of $908,500 and median real estate taxes of $6,196. That is higher than the Chatham County average of 0.671%.
What is the average home price in Governors Club?
The median owner-occupied home value in Governors Club, North Carolina is $908,500, against $397,800 across Chatham County.
Is it cheaper to rent or buy in Governors Club?
Rent data is not published for Governors Club at this level of detail.
What salary do you need to buy a home in Governors Club?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Governors Club, North Carolina at today's rate takes a household income of roughly $290,500 a year. That covers the full $6,779 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Governors Club, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for North Carolina.
- 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.