Total monthly cost of ownership
Cost to Own a Home in Winston-Salem, North Carolina
A $208,000 home here costs
$1,685per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,069. The real number is $616 higher every month — 58% 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.
Winston-Salem against Forsyth County and North Carolina
| Measure | Winston-Salem | Forsyth County |
|---|---|---|
| Median home value | $208,200 | $227,800 |
| Median property tax | $1,964 | $1,934 |
| Effective tax rate | 0.943% | 0.849% |
| Median gross rent | $1,033 | $1,046 |
| Population | 250,887 | 386,740 |
The weather behind that power bill
Winston-Salem sits in Forsyth County, which averages a high of 88.0°F in its hottest month and a low of 30.7°F in its coldest, with 43.2" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,514 cooling and 3,497 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Forsyth County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Forsyth County
Full Forsyth County cost breakdown · Every county in North Carolina
Common questions
How much does it cost to own a home in Winston-Salem?
A $208,000 home in Winston-Salem, North Carolina costs approximately $1,685 per month with 20% down at 6.66%. That is $1,069 principal and interest, $163 property tax, $75 homeowners insurance, $204 utilities and $173 set aside for maintenance.
What is the property tax rate in Winston-Salem?
Winston-Salem has an effective property tax rate of 0.943%, based on a median home value of $208,200 and median real estate taxes of $1,964. That is higher than the Forsyth County average of 0.849%.
What is the average home price in Winston-Salem?
The median owner-occupied home value in Winston-Salem, North Carolina is $208,200, against $227,800 across Forsyth County.
Is it cheaper to rent or buy in Winston-Salem?
Median gross rent in Winston-Salem is $1,033 a month, against $1,685 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 Winston-Salem — 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.