Total monthly cost of ownership
Cost to Own a Home in El Dorado, Arkansas
A $113,000 home here costs
$1,069per 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 $46,000 a year.
A standard mortgage calculator would have told you $616. The real number is $453 higher every month, 74% more than the payment most buyers budget for.
Compare Union 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.
El Dorado against Union County and Arkansas
| Measure | El Dorado | Union County |
|---|---|---|
| Median home value | $113,100 | $114,700 |
| Median property tax | $670 | $661 |
| Effective tax rate | 0.592% | 0.576% |
| Median gross rent | $845 | $825 |
| Population | 17,382 | 38,368 |
The weather behind that power bill
El Dorado sits in Union County, which averages a high of 93.6°F in its hottest month and a low of 33.6°F in its coldest, with 52.12" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,283 cooling and 2,558 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Union County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Union County
Talk to someone who works this market
These are El Dorado 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 El Dorado every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in El Dorado I already own here and may sell
Common questions
How much does it cost to own a home in El Dorado?
A $113,000 home in El Dorado, Arkansas costs approximately $1,069 per month with 20% down at 7.24%. That is $616 principal and interest, $56 property tax, $84 homeowners insurance, $219 utilities and $94 set aside for maintenance.
What is the property tax rate in El Dorado?
El Dorado has an effective property tax rate of 0.592%, based on a median home value of $113,100 and median real estate taxes of $670. That is higher than the Union County average of 0.576%.
What is the average home price in El Dorado?
The median owner-occupied home value in El Dorado, Arkansas is $113,100, against $114,700 across Union County.
Is it cheaper to rent or buy in El Dorado?
Median gross rent in El Dorado is $845 a month, against $1,069 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 El Dorado?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in El Dorado, Arkansas at today's rate takes a household income of roughly $46,000 a year. That covers the full $1,069 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for El Dorado, 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.