Total monthly cost of ownership
Cost to Own a Home in Little Elm, Texas
A $390,000 home here costs
$3,589per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $154,000 a year.
A standard mortgage calculator would have told you $2,160. The real number is $1,428 higher every month, 66% more than the payment most buyers budget for.
Compare Denton 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.
Little Elm against Denton County and Texas
| Measure | Little Elm | Denton County |
|---|---|---|
| Median home value | $390,300 | $403,400 |
| Median property tax | $7,245 | $6,943 |
| Effective tax rate | 1.856% | 1.721% |
| Median gross rent | $1,900 | $1,642 |
| Population | 51,426 | 945,644 |
The weather behind that power bill
Little Elm sits in Denton County, which averages a high of 95.9°F in its hottest month and a low of 34.1°F in its coldest, with 38.44" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 2,646 cooling and 2,477 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Denton County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Denton County
Talk to someone who works this market
These are Little Elm 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 Little Elm every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Little Elm I already own here and may sell
Common questions
How much does it cost to own a home in Little Elm?
A $390,000 home in Little Elm, Texas costs approximately $3,589 per month with 20% down at 7.4%. That is $2,160 principal and interest, $603 property tax, $258 homeowners insurance, $242 utilities and $325 set aside for maintenance.
What is the property tax rate in Little Elm?
Little Elm has an effective property tax rate of 1.856%, based on a median home value of $390,300 and median real estate taxes of $7,245. That is higher than the Denton County average of 1.721%.
What is the average home price in Little Elm?
The median owner-occupied home value in Little Elm, Texas is $390,300, against $403,400 across Denton County.
Is it cheaper to rent or buy in Little Elm?
Median gross rent in Little Elm is $1,900 a month, against $3,589 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 Little Elm?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Little Elm, Texas at today's rate takes a household income of roughly $154,000 a year. That covers the full $3,589 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Little Elm, 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.