Total monthly cost of ownership
Cost to Own a Home in Albany, Texas
A $163,000 home here costs
$1,492per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $838. The real number is $654 higher every month — 78% 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.
Albany against Shackelford County and Texas
| Measure | Albany | Shackelford County |
|---|---|---|
| Median home value | $162,500 | $176,900 |
| Median property tax | $2,326 | $2,276 |
| Effective tax rate | 1.431% | 1.287% |
| Median gross rent | $478 | $485 |
| Population | 1,725 | 3,169 |
The weather behind that power bill
Albany sits in Shackelford County, which averages a high of 94.9°F in its hottest month and a low of 31.5°F in its coldest, with 28.92" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 2,355 cooling and 2,666 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Shackelford County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Shackelford County
No other places of this size are published in Shackelford County.
Full Shackelford County cost breakdown · Every county in Texas
Common questions
How much does it cost to own a home in Albany?
A $163,000 home in Albany, Texas costs approximately $1,492 per month with 20% down at 6.66%. That is $838 principal and interest, $194 property tax, $108 homeowners insurance, $216 utilities and $136 set aside for maintenance.
What is the property tax rate in Albany?
Albany has an effective property tax rate of 1.431%, based on a median home value of $162,500 and median real estate taxes of $2,326. That is higher than the Shackelford County average of 1.287%.
What is the average home price in Albany?
The median owner-occupied home value in Albany, Texas is $162,500, against $176,900 across Shackelford County.
Is it cheaper to rent or buy in Albany?
Median gross rent in Albany is $478 a month, against $1,492 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 Albany — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Texas.
- 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.