Total monthly cost of ownership
Cost to Own a Home in Corning, Arkansas
A $86,000 home here costs
$811per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $442. The real number is $369 higher every month — 83% 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.
Corning against Clay County and Arkansas
| Measure | Corning | Clay County |
|---|---|---|
| Median home value | $85,800 | $88,100 |
| Median property tax | $426 | $459 |
| Effective tax rate | 0.497% | 0.521% |
| Median gross rent | $713 | $696 |
| Population | 3,169 | 14,399 |
The weather behind that power bill
Corning sits in Clay County, which averages a high of 89.7°F in its hottest month and a low of 28.2°F in its coldest, with 49.49" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,789 cooling and 3,767 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Clay County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Clay County
Common questions
How much does it cost to own a home in Corning?
A $86,000 home in Corning, Arkansas costs approximately $811 per month with 20% down at 6.66%. That is $442 principal and interest, $36 property tax, $64 homeowners insurance, $197 utilities and $72 set aside for maintenance.
What is the property tax rate in Corning?
Corning has an effective property tax rate of 0.497%, based on a median home value of $85,800 and median real estate taxes of $426. That is lower than the Clay County average of 0.521%.
What is the average home price in Corning?
The median owner-occupied home value in Corning, Arkansas is $85,800, against $88,100 across Clay County.
Is it cheaper to rent or buy in Corning?
Median gross rent in Corning is $713 a month, against $811 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 Corning — 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.