Total monthly cost of ownership
Cost to Own a Home in Italy, Texas
A $148,000 home here costs
$1,394per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $761. The real number is $633 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.
Italy against Ellis County and Texas
| Measure | Italy | Ellis County |
|---|---|---|
| Median home value | $148,200 | $306,400 |
| Median property tax | $2,356 | $4,472 |
| Effective tax rate | 1.590% | 1.460% |
| Median gross rent | $1,304 | $1,449 |
| Population | 2,460 | 203,927 |
The weather behind that power bill
Italy sits in Ellis County, which averages a high of 95.3°F in its hottest month and a low of 33.9°F in its coldest, with 40.8" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,543 cooling and 2,431 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Ellis County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Ellis County
Common questions
How much does it cost to own a home in Italy?
A $148,000 home in Italy, Texas costs approximately $1,394 per month with 20% down at 6.66%. That is $761 principal and interest, $196 property tax, $98 homeowners insurance, $216 utilities and $123 set aside for maintenance.
What is the property tax rate in Italy?
Italy has an effective property tax rate of 1.590%, based on a median home value of $148,200 and median real estate taxes of $2,356. That is higher than the Ellis County average of 1.460%.
What is the average home price in Italy?
The median owner-occupied home value in Italy, Texas is $148,200, against $306,400 across Ellis County.
Is it cheaper to rent or buy in Italy?
Median gross rent in Italy is $1,304 a month, against $1,394 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 Italy — 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.