Total monthly cost of ownership
Cost to Own a Home in Carthage, Texas
A $153,000 home here costs
$1,373per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $787. The real number is $586 higher every month — 75% 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.
Carthage against Panola County and Texas
| Measure | Carthage | Panola County |
|---|---|---|
| Median home value | $153,100 | $146,000 |
| Median property tax | $1,700 | $1,313 |
| Effective tax rate | 1.110% | 0.899% |
| Median gross rent | $737 | $810 |
| Population | 6,568 | 22,624 |
The weather behind that power bill
Carthage sits in Panola County, which averages a high of 93.1°F in its hottest month and a low of 36.1°F in its coldest, with 52.28" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 2,428 cooling and 2,264 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Panola County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Panola County
No other places of this size are published in Panola County.
Common questions
How much does it cost to own a home in Carthage?
A $153,000 home in Carthage, Texas costs approximately $1,373 per month with 20% down at 6.66%. That is $787 principal and interest, $142 property tax, $101 homeowners insurance, $216 utilities and $128 set aside for maintenance.
What is the property tax rate in Carthage?
Carthage has an effective property tax rate of 1.110%, based on a median home value of $153,100 and median real estate taxes of $1,700. That is higher than the Panola County average of 0.899%.
What is the average home price in Carthage?
The median owner-occupied home value in Carthage, Texas is $153,100, against $146,000 across Panola County.
Is it cheaper to rent or buy in Carthage?
Median gross rent in Carthage is $737 a month, against $1,373 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 Carthage — 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.