Total monthly cost of ownership
Cost to Own a Home in Fairfield Bay, Arkansas
A $157,000 home here costs
$1,323per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $807. The real number is $516 higher every month — 64% 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.
Fairfield Bay against Cleburne County and Arkansas
| Measure | Fairfield Bay | Cleburne County |
|---|---|---|
| Median home value | $157,300 | $174,600 |
| Median property tax | $854 | $814 |
| Effective tax rate | 0.543% | 0.466% |
| Median gross rent | $888 | $853 |
| Population | 2,247 | 25,048 |
Fairfield Bay extends across 2 counties. Figures here use Cleburne County, where most of its housing sits.
The weather behind that power bill
Fairfield Bay sits in Cleburne County, which averages a high of 90.9°F in its hottest month and a low of 27.7°F in its coldest, with 53.38" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,725 cooling and 3,577 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Cleburne County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cleburne County
Full Cleburne County cost breakdown · Every county in Arkansas
Common questions
How much does it cost to own a home in Fairfield Bay?
A $157,000 home in Fairfield Bay, Arkansas costs approximately $1,323 per month with 20% down at 6.66%. That is $807 principal and interest, $71 property tax, $117 homeowners insurance, $197 utilities and $131 set aside for maintenance.
What is the property tax rate in Fairfield Bay?
Fairfield Bay has an effective property tax rate of 0.543%, based on a median home value of $157,300 and median real estate taxes of $854. That is higher than the Cleburne County average of 0.466%.
What is the average home price in Fairfield Bay?
The median owner-occupied home value in Fairfield Bay, Arkansas is $157,300, against $174,600 across Cleburne County.
Is it cheaper to rent or buy in Fairfield Bay?
Median gross rent in Fairfield Bay is $888 a month, against $1,323 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 Fairfield Bay — 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.