Total monthly cost of ownership
Cost to Own a Home in Merced, California
A $348,000 home here costs
$2,704per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,789. The real number is $915 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.
Merced against Merced County and California
| Measure | Merced | Merced County |
|---|---|---|
| Median home value | $347,700 | $368,400 |
| Median property tax | $2,443 | $2,487 |
| Effective tax rate | 0.703% | 0.675% |
| Median gross rent | $1,293 | $1,284 |
| Population | 89,766 | 285,597 |
The weather behind that power bill
Merced sits in Merced County, which averages a high of 95.6°F in its hottest month and a low of 34.3°F in its coldest, with 10.45" of precipitation a year and 59% of it in a single three-month stretch. That climate drives 980 cooling and 2,909 heating degree days, which is what sets the $299 electricity line above.
See the full climate breakdown for Merced County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Merced County
Full Merced County cost breakdown · Every county in California
Common questions
How much does it cost to own a home in Merced?
A $348,000 home in Merced, California costs approximately $2,704 per month with 20% down at 6.66%. That is $1,789 principal and interest, $204 property tax, $54 homeowners insurance, $367 utilities and $290 set aside for maintenance.
What is the property tax rate in Merced?
Merced has an effective property tax rate of 0.703%, based on a median home value of $347,700 and median real estate taxes of $2,443. That is higher than the Merced County average of 0.675%.
What is the average home price in Merced?
The median owner-occupied home value in Merced, California is $347,700, against $368,400 across Merced County.
Is it cheaper to rent or buy in Merced?
Median gross rent in Merced is $1,293 a month, against $2,704 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 Merced — 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.