Total monthly cost of ownership
Cost to Own a Home in Homer, Georgia
A $264,000 home here costs
$2,054per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,357. The real number is $696 higher every month — 51% 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.
Homer against Banks County and Georgia
| Measure | Homer | Banks County |
|---|---|---|
| Median home value | $264,200 | $251,700 |
| Median property tax | $1,819 | $1,586 |
| Effective tax rate | 0.688% | 0.630% |
| Median gross rent | $1,032 | $788 |
| Population | 1,628 | 18,757 |
The weather behind that power bill
Homer sits in Banks County, which averages a high of 89.1°F in its hottest month and a low of 30.9°F in its coldest, with 52.1" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,617 cooling and 3,116 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Banks County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Banks County
No other places of this size are published in Banks County.
Common questions
How much does it cost to own a home in Homer?
A $264,000 home in Homer, Georgia costs approximately $2,054 per month with 20% down at 6.66%. That is $1,357 principal and interest, $151 property tax, $115 homeowners insurance, $210 utilities and $220 set aside for maintenance.
What is the property tax rate in Homer?
Homer has an effective property tax rate of 0.688%, based on a median home value of $264,200 and median real estate taxes of $1,819. That is higher than the Banks County average of 0.630%.
What is the average home price in Homer?
The median owner-occupied home value in Homer, Georgia is $264,200, against $251,700 across Banks County.
Is it cheaper to rent or buy in Homer?
Median gross rent in Homer is $1,032 a month, against $2,054 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 Homer — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Georgia.
- 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.