Total monthly cost of ownership
Cost to Own a Home in Elmo, Texas
A $173,000 home here costs
$1,645per 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 $70,500 a year.
A standard mortgage calculator would have told you $943. The real number is $701 higher every month, 74% more than the payment most buyers budget for.
Compare Kaufman County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Elmo from a five-year rolling sample, and with about 1,377 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Kaufman County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Elmo against Kaufman County and Texas
| Measure | Elmo | Kaufman County |
|---|---|---|
| Median home value | $173,000 | $290,800 |
| Median property tax | $2,404 | $5,036 |
| Effective tax rate | 1.390% | 1.732% |
| Median gross rent | — | $1,408 |
| Population | 1,377 | 160,718 |
The weather behind that power bill
Elmo sits in Kaufman County, which averages a high of 96.3°F in its hottest month and a low of 35.7°F in its coldest, with 38.42" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,738 cooling and 2,211 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Kaufman County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kaufman County
Talk to someone who works this market
These are Elmo 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 Elmo every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Elmo?
A $173,000 home in Elmo, Texas costs approximately $1,645 per month with 20% down at 7.24%. That is $943 principal and interest, $200 property tax, $114 homeowners insurance, $242 utilities and $144 set aside for maintenance.
What is the property tax rate in Elmo?
Elmo has an effective property tax rate of 1.390%, based on a median home value of $173,000 and median real estate taxes of $2,404. That is lower than the Kaufman County average of 1.732%.
What is the average home price in Elmo?
The median owner-occupied home value in Elmo, Texas is $173,000, against $290,800 across Kaufman County.
Is it cheaper to rent or buy in Elmo?
Rent data is not published for Elmo at this level of detail.
What salary do you need to buy a home in Elmo?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Elmo, Texas at today's rate takes a household income of roughly $70,500 a year. That covers the full $1,645 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Elmo, 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.