Total monthly cost of ownership
Cost to Own a Home in Leonard, Texas
A $156,000 home here costs
$1,471per 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 $63,000 a year.
A standard mortgage calculator would have told you $851. The real number is $620 higher every month, 73% more than the payment most buyers budget for.
Compare Fannin County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Leonard from a five-year rolling sample, and with about 2,468 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Fannin County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Leonard against Fannin County and Texas
| Measure | Leonard | Fannin County |
|---|---|---|
| Median home value | $156,100 | $213,500 |
| Median property tax | $1,736 | $2,356 |
| Effective tax rate | 1.112% | 1.104% |
| Median gross rent | $1,031 | $994 |
| Population | 2,468 | 36,525 |
The weather behind that power bill
Leonard sits in Fannin County, which averages a high of 93.8°F in its hottest month and a low of 32.7°F in its coldest, with 45.51" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,310 cooling and 2,822 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Fannin County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Fannin County
Talk to someone who works this market
These are Leonard 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 Leonard every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Leonard I already own here and may sell
Common questions
How much does it cost to own a home in Leonard?
A $156,000 home in Leonard, Texas costs approximately $1,471 per month with 20% down at 7.24%. That is $851 principal and interest, $145 property tax, $103 homeowners insurance, $242 utilities and $130 set aside for maintenance.
What is the property tax rate in Leonard?
Leonard has an effective property tax rate of 1.112%, based on a median home value of $156,100 and median real estate taxes of $1,736. That is in line with the Fannin County average of 1.104%.
What is the average home price in Leonard?
The median owner-occupied home value in Leonard, Texas is $156,100, against $213,500 across Fannin County.
Is it cheaper to rent or buy in Leonard?
Median gross rent in Leonard is $1,031 a month, against $1,471 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 Leonard?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Leonard, Texas at today's rate takes a household income of roughly $63,000 a year. That covers the full $1,471 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Leonard, 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.