Total monthly cost of ownership
Cost to Own a Home in Lake Hamilton, Arkansas
A $411,000 home here costs
$3,159per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,113. The real number is $1,046 higher every month — 49% 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.
Lake Hamilton against Garland County and Arkansas
| Measure | Lake Hamilton | Garland County |
|---|---|---|
| Median home value | $411,000 | $176,400 |
| Median property tax | $2,391 | $915 |
| Effective tax rate | 0.582% | 0.519% |
| Median gross rent | $806 | $942 |
| Population | 1,912 | 100,062 |
The weather behind that power bill
Lake Hamilton sits in Garland County, which averages a high of 90.9°F in its hottest month and a low of 29.1°F in its coldest, with 57.86" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,544 cooling and 3,477 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Garland County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Garland County
Full Garland County cost breakdown · Every county in Arkansas
Common questions
How much does it cost to own a home in Lake Hamilton?
A $411,000 home in Lake Hamilton, Arkansas costs approximately $3,159 per month with 20% down at 6.66%. That is $2,113 principal and interest, $199 property tax, $307 homeowners insurance, $197 utilities and $343 set aside for maintenance.
What is the property tax rate in Lake Hamilton?
Lake Hamilton has an effective property tax rate of 0.582%, based on a median home value of $411,000 and median real estate taxes of $2,391. That is higher than the Garland County average of 0.519%.
What is the average home price in Lake Hamilton?
The median owner-occupied home value in Lake Hamilton, Arkansas is $411,000, against $176,400 across Garland County.
Is it cheaper to rent or buy in Lake Hamilton?
Median gross rent in Lake Hamilton is $806 a month, against $3,159 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 Lake Hamilton — 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.