Total monthly cost of ownership
Cost to Own a Home in Morgan Hill, California
A $1,128,000 home here costs
$8,022per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $5,799. The real number is $2,222 higher every month — 38% 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.
Morgan Hill against Santa Clara County and California
| Measure | Morgan Hill | Santa Clara County |
|---|---|---|
| Median home value | $1,127,600 | $1,382,800 |
| Median property tax | $8,890 | $9,766 |
| Effective tax rate | 0.788% | 0.706% |
| Median gross rent | $2,275 | $2,814 |
| Population | 45,152 | 1,903,297 |
The weather behind that power bill
Morgan Hill 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 Morgan Hill?
A $1,128,000 home in Morgan Hill, California costs approximately $8,022 per month with 20% down at 6.66%. That is $5,799 principal and interest, $741 property tax, $175 homeowners insurance, $367 utilities and $940 set aside for maintenance.
What is the property tax rate in Morgan Hill?
Morgan Hill has an effective property tax rate of 0.788%, based on a median home value of $1,127,600 and median real estate taxes of $8,890. That is higher than the Santa Clara County average of 0.706%.
What is the average home price in Morgan Hill?
The median owner-occupied home value in Morgan Hill, California is $1,127,600, against $1,382,800 across Santa Clara County.
Is it cheaper to rent or buy in Morgan Hill?
Median gross rent in Morgan Hill is $2,275 a month, against $8,022 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 Morgan Hill — 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.