Total monthly cost of ownership
Cost to Own a Home in Farwell, Texas
A $130,000 home here costs
$1,225per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $668. The real number is $556 higher every month — 83% 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.
Farwell against Parmer County and Texas
| Measure | Farwell | Parmer County |
|---|---|---|
| Median home value | $129,800 | $127,300 |
| Median property tax | $1,750 | $1,994 |
| Effective tax rate | 1.348% | 1.566% |
| Median gross rent | $1,153 | $1,015 |
| Population | 1,359 | 9,752 |
The weather behind that power bill
Farwell sits in Parmer County, which averages a high of 91.2°F in its hottest month and a low of 22.4°F in its coldest, with 19.29" of precipitation a year and 43% of it in a single three-month stretch. That climate drives 1,296 cooling and 4,243 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Parmer County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Parmer County
Common questions
How much does it cost to own a home in Farwell?
A $130,000 home in Farwell, Texas costs approximately $1,225 per month with 20% down at 6.66%. That is $668 principal and interest, $146 property tax, $86 homeowners insurance, $216 utilities and $108 set aside for maintenance.
What is the property tax rate in Farwell?
Farwell has an effective property tax rate of 1.348%, based on a median home value of $129,800 and median real estate taxes of $1,750. That is lower than the Parmer County average of 1.566%.
What is the average home price in Farwell?
The median owner-occupied home value in Farwell, Texas is $129,800, against $127,300 across Parmer County.
Is it cheaper to rent or buy in Farwell?
Median gross rent in Farwell is $1,153 a month, against $1,225 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 Farwell — 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.