Total monthly cost of ownership
Cost to Own a Home in Siler City, North Carolina
A $155,000 home here costs
$1,300per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $797. The real number is $503 higher every month — 63% 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.
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 $136 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
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 $1,300 per month with 20% down at 6.66%. That is $797 principal and interest, $114 property tax, $56 homeowners insurance, $204 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 $1,300 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 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.