Total monthly cost of ownership
Cost to Own a Home in Emory, Texas
A $188,000 home here costs
$1,705per 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 $73,000 a year.
A standard mortgage calculator would have told you $1,025. The real number is $680 higher every month, 66% more than the payment most buyers budget for.
Compare Rains County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Emory from a five-year rolling sample, and with about 1,304 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 Rains 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.
Emory against Rains County and Texas
| Measure | Emory | Rains County |
|---|---|---|
| Median home value | $187,500 | $214,900 |
| Median property tax | $1,870 | $2,350 |
| Effective tax rate | 0.997% | 1.094% |
| Median gross rent | $912 | $895 |
| Population | 1,304 | 12,505 |
The weather behind that power bill
Emory sits in Rains County, which averages a high of 92.0°F in its hottest month and a low of 33.0°F in its coldest, with 45.44" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,119 cooling and 2,667 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Rains County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Rains County
No other places of this size are published in Rains County.
Talk to someone who works this market
These are Emory 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 Emory 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 Emory?
A $188,000 home in Emory, Texas costs approximately $1,705 per month with 20% down at 7.24%. That is $1,025 principal and interest, $156 property tax, $124 homeowners insurance, $242 utilities and $157 set aside for maintenance.
What is the property tax rate in Emory?
Emory has an effective property tax rate of 0.997%, based on a median home value of $187,500 and median real estate taxes of $1,870. That is lower than the Rains County average of 1.094%.
What is the average home price in Emory?
The median owner-occupied home value in Emory, Texas is $187,500, against $214,900 across Rains County.
Is it cheaper to rent or buy in Emory?
Median gross rent in Emory is $912 a month, against $1,705 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 Emory?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Emory, Texas at today's rate takes a household income of roughly $73,000 a year. That covers the full $1,705 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Emory, 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.