Total monthly cost of ownership
Cost to Own a Home in Oak Ridge, North Carolina
A $524,000 home here costs
$4,022per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $172,500 a year.
A standard mortgage calculator would have told you $2,902. The real number is $1,120 higher every month, 39% more than the payment most buyers budget for.
Compare Guilford County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Oak Ridge against Guilford County and North Carolina
| Measure | Oak Ridge | Guilford County |
|---|---|---|
| Median home value | $523,500 | $234,900 |
| Median property tax | $3,252 | $2,075 |
| Effective tax rate | 0.621% | 0.883% |
| Median gross rent | — | $1,108 |
| Population | 7,660 | 542,987 |
The weather behind that power bill
Oak Ridge sits in Guilford County, which averages a high of 88.6°F in its hottest month and a low of 29.8°F in its coldest, with 45.89" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,567 cooling and 3,438 heating degree days, which is what sets the $154 electricity line above.
See the full climate breakdown for Guilford County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Guilford County
Full Guilford County cost breakdown · Every county in North Carolina
Talk to someone who works this market
These are Oak Ridge 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 Oak Ridge every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Oak Ridge I already own here and may sell
Common questions
How much does it cost to own a home in Oak Ridge?
A $524,000 home in Oak Ridge, North Carolina costs approximately $4,022 per month with 20% down at 7.4%. That is $2,902 principal and interest, $271 property tax, $190 homeowners insurance, $222 utilities and $437 set aside for maintenance.
What is the property tax rate in Oak Ridge?
Oak Ridge has an effective property tax rate of 0.621%, based on a median home value of $523,500 and median real estate taxes of $3,252. That is lower than the Guilford County average of 0.883%.
What is the average home price in Oak Ridge?
The median owner-occupied home value in Oak Ridge, North Carolina is $523,500, against $234,900 across Guilford County.
Is it cheaper to rent or buy in Oak Ridge?
Rent data is not published for Oak Ridge at this level of detail.
What salary do you need to buy a home in Oak Ridge?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Oak Ridge, North Carolina at today's rate takes a household income of roughly $172,500 a year. That covers the full $4,022 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Oak Ridge, 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.