Total monthly cost of ownership
Cost to Own a Home in Cave City, Arkansas
A $120,000 home here costs
$1,047per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $617. The real number is $430 higher every month — 70% 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.
Cave City against Independence County and Arkansas
| Measure | Cave City | Independence County |
|---|---|---|
| Median home value | $119,900 | $120,500 |
| Median property tax | $522 | $657 |
| Effective tax rate | 0.435% | 0.545% |
| Median gross rent | $636 | $814 |
| Population | 1,930 | 38,120 |
Cave City extends across 2 counties. Figures here use Independence County, where most of its housing sits.
The weather behind that power bill
Cave City sits in Independence County, which averages a high of 90.7°F in its hottest month and a low of 28.2°F in its coldest, with 50.84" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,720 cooling and 3,674 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Independence County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Independence County
Full Independence County cost breakdown · Every county in Arkansas
Common questions
How much does it cost to own a home in Cave City?
A $120,000 home in Cave City, Arkansas costs approximately $1,047 per month with 20% down at 6.66%. That is $617 principal and interest, $44 property tax, $90 homeowners insurance, $197 utilities and $100 set aside for maintenance.
What is the property tax rate in Cave City?
Cave City has an effective property tax rate of 0.435%, based on a median home value of $119,900 and median real estate taxes of $522. That is lower than the Independence County average of 0.545%.
What is the average home price in Cave City?
The median owner-occupied home value in Cave City, Arkansas is $119,900, against $120,500 across Independence County.
Is it cheaper to rent or buy in Cave City?
Median gross rent in Cave City is $636 a month, against $1,047 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 Cave City — 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.