Total monthly cost of ownership
Cost to Own a Home in Siler City, North Carolina
A $155,000 home here costs
$1,364per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $58,500 a year.
A standard mortgage calculator would have told you $845. The real number is $519 higher every month, 61% more than the payment most buyers budget for.
Compare Chatham 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.
Siler City against Chatham County and North Carolina
| Measure | Siler City | Chatham County |
|---|---|---|
| Median home value | $154,900 | $397,800 |
| Median property tax | $1,370 | $2,671 |
| Effective tax rate | 0.884% | 0.671% |
| Median gross rent | $958 | $1,066 |
| Population | 7,905 | 78,319 |
The weather behind that power bill
Siler City sits in Chatham County, which averages a high of 89.6°F in its hottest month and a low of 31.7°F in its coldest, with 43.56" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,652 cooling and 3,239 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Chatham County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Chatham County
Full Chatham County cost breakdown · Every county in North Carolina
Talk to someone who works this market
These are Siler City 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 Siler City every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Siler City I already own here and may sell
Common questions
How much does it cost to own a home in Siler City?
A $155,000 home in Siler City, North Carolina costs approximately $1,364 per month with 20% down at 7.24%. That is $845 principal and interest, $114 property tax, $56 homeowners insurance, $220 utilities and $129 set aside for maintenance.
What is the property tax rate in Siler City?
Siler City has an effective property tax rate of 0.884%, based on a median home value of $154,900 and median real estate taxes of $1,370. That is higher than the Chatham County average of 0.671%.
What is the average home price in Siler City?
The median owner-occupied home value in Siler City, North Carolina is $154,900, against $397,800 across Chatham County.
Is it cheaper to rent or buy in Siler City?
Median gross rent in Siler City is $958 a month, against $1,364 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Siler City?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Siler City, North Carolina at today's rate takes a household income of roughly $58,500 a year. That covers the full $1,364 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Siler City, 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.