Total monthly cost of ownership
Cost to Own a Home in Amarillo, Texas
A $187,000 home here costs
$1,701per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $961. The real number is $740 higher every month — 77% 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.
Amarillo against Randall County and Texas
| Measure | Amarillo | Randall County |
|---|---|---|
| Median home value | $186,800 | $227,500 |
| Median property tax | $2,933 | $3,587 |
| Effective tax rate | 1.570% | 1.577% |
| Median gross rent | $1,049 | $1,119 |
| Population | 200,945 | 143,791 |
Amarillo extends across 2 counties. Figures here use Randall County, where most of its housing sits.
The weather behind that power bill
Amarillo sits in Randall County, which averages a high of 92.7°F in its hottest month and a low of 22.6°F in its coldest, with 18.45" of precipitation a year and 43% of it in a single three-month stretch. That climate drives 1,603 cooling and 4,007 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Randall County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Randall County
Common questions
How much does it cost to own a home in Amarillo?
A $187,000 home in Amarillo, Texas costs approximately $1,701 per month with 20% down at 6.66%. That is $961 principal and interest, $245 property tax, $124 homeowners insurance, $216 utilities and $156 set aside for maintenance.
What is the property tax rate in Amarillo?
Amarillo has an effective property tax rate of 1.570%, based on a median home value of $186,800 and median real estate taxes of $2,933. That is in line with the Randall County average of 1.577%.
What is the average home price in Amarillo?
The median owner-occupied home value in Amarillo, Texas is $186,800, against $227,500 across Randall County.
Is it cheaper to rent or buy in Amarillo?
Median gross rent in Amarillo is $1,049 a month, against $1,701 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 Amarillo — 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.