Total monthly cost of ownership
Cost to Own a Home in Elkins, Arkansas
A $190,000 home here costs
$1,571per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $977. The real number is $595 higher every month — 61% 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.
Elkins against Washington County and Arkansas
| Measure | Elkins | Washington County |
|---|---|---|
| Median home value | $190,100 | $266,000 |
| Median property tax | $1,169 | $1,465 |
| Effective tax rate | 0.615% | 0.551% |
| Median gross rent | $1,293 | $1,005 |
| Population | 3,710 | 251,863 |
The weather behind that power bill
Elkins sits in Washington County, which averages a high of 89.2°F in its hottest month and a low of 25.1°F in its coldest, with 46.96" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,352 cooling and 4,080 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Washington County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Washington County
Full Washington County cost breakdown · Every county in Arkansas
Common questions
How much does it cost to own a home in Elkins?
A $190,000 home in Elkins, Arkansas costs approximately $1,571 per month with 20% down at 6.66%. That is $977 principal and interest, $97 property tax, $142 homeowners insurance, $197 utilities and $158 set aside for maintenance.
What is the property tax rate in Elkins?
Elkins has an effective property tax rate of 0.615%, based on a median home value of $190,100 and median real estate taxes of $1,169. That is higher than the Washington County average of 0.551%.
What is the average home price in Elkins?
The median owner-occupied home value in Elkins, Arkansas is $190,100, against $266,000 across Washington County.
Is it cheaper to rent or buy in Elkins?
Median gross rent in Elkins is $1,293 a month, against $1,571 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 Elkins — 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.