Total monthly cost of ownership
Cost to Own a Home in Denison, Texas
A $168,000 home here costs
$1,600per 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 $68,500 a year.
A standard mortgage calculator would have told you $916. The real number is $684 higher every month, 75% more than the payment most buyers budget for.
Compare Grayson County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Denison against Grayson County and Texas
| Measure | Denison | Grayson County |
|---|---|---|
| Median home value | $167,800 | $228,300 |
| Median property tax | $2,280 | $2,953 |
| Effective tax rate | 1.359% | 1.293% |
| Median gross rent | $1,161 | $1,178 |
| Population | 25,347 | 139,988 |
The weather behind that power bill
Denison sits in Grayson County, which averages a high of 92.7°F in its hottest month and a low of 33.9°F in its coldest, with 44.29" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,261 cooling and 2,727 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Grayson County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Grayson County
Talk to someone who works this market
These are Denison 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 Denison every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Denison I already own here and may sell
Common questions
How much does it cost to own a home in Denison?
A $168,000 home in Denison, Texas costs approximately $1,600 per month with 20% down at 7.24%. That is $916 principal and interest, $190 property tax, $111 homeowners insurance, $242 utilities and $140 set aside for maintenance.
What is the property tax rate in Denison?
Denison has an effective property tax rate of 1.359%, based on a median home value of $167,800 and median real estate taxes of $2,280. That is higher than the Grayson County average of 1.293%.
What is the average home price in Denison?
The median owner-occupied home value in Denison, Texas is $167,800, against $228,300 across Grayson County.
Is it cheaper to rent or buy in Denison?
Median gross rent in Denison is $1,161 a month, against $1,600 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 Denison?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Denison, Texas at today's rate takes a household income of roughly $68,500 a year. That covers the full $1,600 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Denison, 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.