Total monthly cost of ownership
Cost to Own a Home in Canton, Texas
A $189,000 home here costs
$1,756per 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 $75,500 a year.
A standard mortgage calculator would have told you $1,030. The real number is $726 higher every month, 70% more than the payment most buyers budget for.
Compare Van Zandt County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Canton from a five-year rolling sample, and with about 4,411 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 Van Zandt 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.
Canton against Van Zandt County and Texas
| Measure | Canton | Van Zandt County |
|---|---|---|
| Median home value | $189,200 | $199,500 |
| Median property tax | $2,412 | $2,204 |
| Effective tax rate | 1.275% | 1.105% |
| Median gross rent | $985 | $1,010 |
| Population | 4,411 | 61,323 |
The weather behind that power bill
Canton sits in Van Zandt County, which averages a high of 96.3°F in its hottest month and a low of 35.7°F in its coldest, with 38.42" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,738 cooling and 2,211 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Van Zandt County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Van Zandt County
Full Van Zandt County cost breakdown · Every county in Texas
Talk to someone who works this market
These are Canton 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 Canton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Canton I already own here and may sell
Common questions
How much does it cost to own a home in Canton?
A $189,000 home in Canton, Texas costs approximately $1,756 per month with 20% down at 7.24%. That is $1,030 principal and interest, $201 property tax, $125 homeowners insurance, $242 utilities and $158 set aside for maintenance.
What is the property tax rate in Canton?
Canton has an effective property tax rate of 1.275%, based on a median home value of $189,200 and median real estate taxes of $2,412. That is higher than the Van Zandt County average of 1.105%.
What is the average home price in Canton?
The median owner-occupied home value in Canton, Texas is $189,200, against $199,500 across Van Zandt County.
Is it cheaper to rent or buy in Canton?
Median gross rent in Canton is $985 a month, against $1,756 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 Canton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Canton, Texas at today's rate takes a household income of roughly $75,500 a year. That covers the full $1,756 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Canton, 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.