Total monthly cost of ownership
Cost to Own a Home in Penn Valley, California
A $530,000 home here costs
$3,812per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,725. The real number is $1,087 higher every month — 40% 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.
Penn Valley against Nevada County and California
| Measure | Penn Valley | Nevada County |
|---|---|---|
| Median home value | $530,100 | $602,800 |
| Median property tax | $2,358 | $4,468 |
| Effective tax rate | 0.445% | 0.741% |
| Median gross rent | $1,608 | $1,635 |
| Population | 1,197 | 102,452 |
The weather behind that power bill
Penn Valley sits in Nevada County, which averages a high of 77.8°F in its hottest month and a low of 33.1°F in its coldest, with 62.44" of precipitation a year and 50% of it in a single three-month stretch. That climate drives 552 cooling and 5,213 heating degree days, which is what sets the $299 electricity line above.
See the full climate breakdown for Nevada County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Nevada County
Full Nevada County cost breakdown · Every county in California
Common questions
How much does it cost to own a home in Penn Valley?
A $530,000 home in Penn Valley, California costs approximately $3,812 per month with 20% down at 6.66%. That is $2,725 principal and interest, $197 property tax, $82 homeowners insurance, $367 utilities and $442 set aside for maintenance.
What is the property tax rate in Penn Valley?
Penn Valley has an effective property tax rate of 0.445%, based on a median home value of $530,100 and median real estate taxes of $2,358. That is lower than the Nevada County average of 0.741%.
What is the average home price in Penn Valley?
The median owner-occupied home value in Penn Valley, California is $530,100, against $602,800 across Nevada County.
Is it cheaper to rent or buy in Penn Valley?
Median gross rent in Penn Valley is $1,608 a month, against $3,812 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 Penn Valley — 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.