Total monthly cost of ownership
Cost to Own a Home in Bono, Arkansas
A $143,000 home here costs
$1,282per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $55,000 a year.
A standard mortgage calculator would have told you $792. The real number is $490 higher every month, 62% more than the payment most buyers budget for.
Compare Craighead County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Bono from a five-year rolling sample, and with about 2,575 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Craighead County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Bono against Craighead County and Arkansas
| Measure | Bono | Craighead County |
|---|---|---|
| Median home value | $143,100 | $198,700 |
| Median property tax | $548 | $1,084 |
| Effective tax rate | 0.383% | 0.546% |
| Median gross rent | $863 | $930 |
| Population | 2,575 | 112,097 |
The weather behind that power bill
Bono sits in Craighead County, which averages a high of 91.2°F in its hottest month and a low of 30.5°F in its coldest, with 48.51" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,994 cooling and 3,451 heating degree days, which is what sets the $150 electricity line above.
See the full climate breakdown for Craighead County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Craighead County
Full Craighead County cost breakdown · Every county in Arkansas
Talk to someone who works this market
These are Bono 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 Bono every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Bono?
A $143,000 home in Bono, Arkansas costs approximately $1,282 per month with 20% down at 7.4%. That is $792 principal and interest, $46 property tax, $107 homeowners insurance, $218 utilities and $119 set aside for maintenance.
What is the property tax rate in Bono?
Bono has an effective property tax rate of 0.383%, based on a median home value of $143,100 and median real estate taxes of $548. That is lower than the Craighead County average of 0.546%.
What is the average home price in Bono?
The median owner-occupied home value in Bono, Arkansas is $143,100, against $198,700 across Craighead County.
Is it cheaper to rent or buy in Bono?
Median gross rent in Bono is $863 a month, against $1,282 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 Bono?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Bono, Arkansas at today's rate takes a household income of roughly $55,000 a year. That covers the full $1,282 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Bono, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Arkansas.
- 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.