Total monthly cost of ownership
Cost to Own a Home in Bonham, Texas
A $184,000 home here costs
$1,621per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $946. The real number is $675 higher every month — 71% 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.
Bonham against Fannin County and Texas
| Measure | Bonham | Fannin County |
|---|---|---|
| Median home value | $183,600 | $213,500 |
| Median property tax | $2,205 | $2,356 |
| Effective tax rate | 1.201% | 1.104% |
| Median gross rent | $1,029 | $994 |
| Population | 10,594 | 36,525 |
The weather behind that power bill
Bonham sits in Fannin County, which averages a high of 93.8°F in its hottest month and a low of 32.7°F in its coldest, with 45.51" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,310 cooling and 2,822 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Fannin County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Fannin County
Common questions
How much does it cost to own a home in Bonham?
A $184,000 home in Bonham, Texas costs approximately $1,621 per month with 20% down at 6.66%. That is $946 principal and interest, $184 property tax, $122 homeowners insurance, $216 utilities and $153 set aside for maintenance.
What is the property tax rate in Bonham?
Bonham has an effective property tax rate of 1.201%, based on a median home value of $183,600 and median real estate taxes of $2,205. That is higher than the Fannin County average of 1.104%.
What is the average home price in Bonham?
The median owner-occupied home value in Bonham, Texas is $183,600, against $213,500 across Fannin County.
Is it cheaper to rent or buy in Bonham?
Median gross rent in Bonham is $1,029 a month, against $1,621 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 Bonham — 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.