Total monthly cost of ownership
Cost to Own a Home in Summerfield, North Carolina
A $490,000 home here costs
$3,572per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,519. The real number is $1,053 higher every month — 42% 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.
Summerfield against Guilford County and North Carolina
| Measure | Summerfield | Guilford County |
|---|---|---|
| Median home value | $490,100 | $234,900 |
| Median property tax | $3,154 | $2,075 |
| Effective tax rate | 0.644% | 0.883% |
| Median gross rent | $1,148 | $1,108 |
| Population | 11,031 | 542,987 |
The weather behind that power bill
Summerfield 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 $136 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
Common questions
How much does it cost to own a home in Summerfield?
A $490,000 home in Summerfield, North Carolina costs approximately $3,572 per month with 20% down at 6.66%. That is $2,519 principal and interest, $263 property tax, $178 homeowners insurance, $204 utilities and $408 set aside for maintenance.
What is the property tax rate in Summerfield?
Summerfield has an effective property tax rate of 0.644%, based on a median home value of $490,100 and median real estate taxes of $3,154. That is lower than the Guilford County average of 0.883%.
What is the average home price in Summerfield?
The median owner-occupied home value in Summerfield, North Carolina is $490,100, against $234,900 across Guilford County.
Is it cheaper to rent or buy in Summerfield?
Median gross rent in Summerfield is $1,148 a month, against $3,572 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 Summerfield — 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.