Total monthly cost of ownership
Cost to Own a Home in Big Spring, Texas
A $139,000 home here costs
$1,339per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $57,500 a year.
A standard mortgage calculator would have told you $758. The real number is $581 higher every month, 77% more than the payment most buyers budget for.
Compare Howard County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Big Spring against Howard County and Texas
| Measure | Big Spring | Howard County |
|---|---|---|
| Median home value | $138,800 | $150,300 |
| Median property tax | $1,573 | $1,642 |
| Effective tax rate | 1.133% | 1.092% |
| Median gross rent | $1,009 | $993 |
| Population | 24,769 | 33,127 |
The weather behind that power bill
Big Spring sits in Howard County, which averages a high of 95.8°F in its hottest month and a low of 31.4°F in its coldest, with 19.6" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 2,508 cooling and 2,558 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Howard County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Howard County
Talk to someone who works this market
These are Big Spring averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Big Spring every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Big Spring I already own here and may sell
Common questions
How much does it cost to own a home in Big Spring?
A $139,000 home in Big Spring, Texas costs approximately $1,339 per month with 20% down at 7.24%. That is $758 principal and interest, $131 property tax, $92 homeowners insurance, $242 utilities and $116 set aside for maintenance.
What is the property tax rate in Big Spring?
Big Spring has an effective property tax rate of 1.133%, based on a median home value of $138,800 and median real estate taxes of $1,573. That is higher than the Howard County average of 1.092%.
What is the average home price in Big Spring?
The median owner-occupied home value in Big Spring, Texas is $138,800, against $150,300 across Howard County.
Is it cheaper to rent or buy in Big Spring?
Median gross rent in Big Spring is $1,009 a month, against $1,339 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Big Spring?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Big Spring, Texas at today's rate takes a household income of roughly $57,500 a year. That covers the full $1,339 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Big Spring, 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.