Total monthly cost of ownership
Cost to Own a Home in Fate, Texas
A $361,000 home here costs
$3,150per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,856. The real number is $1,294 higher every month — 70% 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.
Fate against Rockwall County and Texas
| Measure | Fate | Rockwall County |
|---|---|---|
| Median home value | $361,100 | $386,000 |
| Median property tax | $6,464 | $6,341 |
| Effective tax rate | 1.790% | 1.643% |
| Median gross rent | $2,528 | $1,899 |
| Population | 20,757 | 116,931 |
The weather behind that power bill
Fate sits in Rockwall 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 $148 electricity line above.
See the full climate breakdown for Rockwall County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Rockwall County
Common questions
How much does it cost to own a home in Fate?
A $361,000 home in Fate, Texas costs approximately $3,150 per month with 20% down at 6.66%. That is $1,856 principal and interest, $538 property tax, $239 homeowners insurance, $216 utilities and $301 set aside for maintenance.
What is the property tax rate in Fate?
Fate has an effective property tax rate of 1.790%, based on a median home value of $361,100 and median real estate taxes of $6,464. That is higher than the Rockwall County average of 1.643%.
What is the average home price in Fate?
The median owner-occupied home value in Fate, Texas is $361,100, against $386,000 across Rockwall County.
Is it cheaper to rent or buy in Fate?
Median gross rent in Fate is $2,528 a month, against $3,150 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 Fate — 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.