Total monthly cost of ownership
Cost to Own a Home in Canadian, Texas
A $156,000 home here costs
$1,476per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $802. The real number is $674 higher every month — 84% 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.
Canadian against Hemphill County and Texas
| Measure | Canadian | Hemphill County |
|---|---|---|
| Median home value | $156,300 | $214,900 |
| Median property tax | $2,701 | $2,502 |
| Effective tax rate | 1.728% | 1.164% |
| Median gross rent | $886 | $946 |
| Population | 2,314 | 3,311 |
The weather behind that power bill
Canadian sits in Hemphill County, which averages a high of 92.4°F in its hottest month and a low of 22.0°F in its coldest, with 24.15" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 1,528 cooling and 4,328 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Hemphill County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hemphill County
No other places of this size are published in Hemphill County.
Common questions
How much does it cost to own a home in Canadian?
A $156,000 home in Canadian, Texas costs approximately $1,476 per month with 20% down at 6.66%. That is $802 principal and interest, $225 property tax, $103 homeowners insurance, $216 utilities and $130 set aside for maintenance.
What is the property tax rate in Canadian?
Canadian has an effective property tax rate of 1.728%, based on a median home value of $156,300 and median real estate taxes of $2,701. That is higher than the Hemphill County average of 1.164%.
What is the average home price in Canadian?
The median owner-occupied home value in Canadian, Texas is $156,300, against $214,900 across Hemphill County.
Is it cheaper to rent or buy in Canadian?
Median gross rent in Canadian is $886 a month, against $1,476 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 Canadian — 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.