Total monthly cost of ownership
Cost to Own a Home in Gatesville, Texas
A $162,000 home here costs
$1,545per 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 $66,000 a year.
A standard mortgage calculator would have told you $883. The real number is $661 higher every month, 75% more than the payment most buyers budget for.
Compare Coryell County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Gatesville against Coryell County and Texas
| Measure | Gatesville | Coryell County |
|---|---|---|
| Median home value | $162,000 | $177,400 |
| Median property tax | $2,123 | $2,509 |
| Effective tax rate | 1.310% | 1.414% |
| Median gross rent | $920 | $1,120 |
| Population | 16,058 | 83,772 |
The weather behind that power bill
Gatesville sits in Coryell County, which averages a high of 96.2°F in its hottest month and a low of 35.8°F in its coldest, with 37.02" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,643 cooling and 2,083 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Coryell County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Coryell County
No other places of this size are published in Coryell County.
Talk to someone who works this market
These are Gatesville 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 Gatesville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Gatesville I already own here and may sell
Common questions
How much does it cost to own a home in Gatesville?
A $162,000 home in Gatesville, Texas costs approximately $1,545 per month with 20% down at 7.24%. That is $883 principal and interest, $177 property tax, $107 homeowners insurance, $242 utilities and $135 set aside for maintenance.
What is the property tax rate in Gatesville?
Gatesville has an effective property tax rate of 1.310%, based on a median home value of $162,000 and median real estate taxes of $2,123. That is lower than the Coryell County average of 1.414%.
What is the average home price in Gatesville?
The median owner-occupied home value in Gatesville, Texas is $162,000, against $177,400 across Coryell County.
Is it cheaper to rent or buy in Gatesville?
Median gross rent in Gatesville is $920 a month, against $1,545 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 Gatesville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Gatesville, Texas at today's rate takes a household income of roughly $66,000 a year. That covers the full $1,545 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Gatesville, 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.