Total monthly cost of ownership
Cost to Own a Home in Carter, Texas
A $237,000 home here costs
$2,067per 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 $88,500 a year.
A standard mortgage calculator would have told you $1,292. The real number is $775 higher every month, 60% more than the payment most buyers budget for.
Compare Parker County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Carter from a five-year rolling sample, and with about 1,642 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 Parker 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.
Carter against Parker County and Texas
| Measure | Carter | Parker County |
|---|---|---|
| Median home value | $237,300 | $343,600 |
| Median property tax | $2,138 | $4,978 |
| Effective tax rate | 0.901% | 1.449% |
| Median gross rent | $863 | $1,440 |
| Population | 1,642 | 158,079 |
The weather behind that power bill
Carter sits in Parker County, which averages a high of 94.7°F in its hottest month and a low of 31.8°F in its coldest, with 35.18" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,388 cooling and 2,637 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Parker County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Parker County
Talk to someone who works this market
These are Carter 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 Carter every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Carter I already own here and may sell
Common questions
How much does it cost to own a home in Carter?
A $237,000 home in Carter, Texas costs approximately $2,067 per month with 20% down at 7.24%. That is $1,292 principal and interest, $178 property tax, $157 homeowners insurance, $242 utilities and $198 set aside for maintenance.
What is the property tax rate in Carter?
Carter has an effective property tax rate of 0.901%, based on a median home value of $237,300 and median real estate taxes of $2,138. That is lower than the Parker County average of 1.449%.
What is the average home price in Carter?
The median owner-occupied home value in Carter, Texas is $237,300, against $343,600 across Parker County.
Is it cheaper to rent or buy in Carter?
Median gross rent in Carter is $863 a month, against $2,067 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 Carter?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Carter, Texas at today's rate takes a household income of roughly $88,500 a year. That covers the full $2,067 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Carter, 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.