Total monthly cost of ownership
Cost to Own a Home in Lonoke, Arkansas
A $124,000 home here costs
$1,183per 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 $50,500 a year.
A standard mortgage calculator would have told you $676. The real number is $507 higher every month, 75% more than the payment most buyers budget for.
Compare Lonoke County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Lonoke from a five-year rolling sample, and with about 4,260 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 Lonoke 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.
Lonoke against Lonoke County and Arkansas
| Measure | Lonoke | Lonoke County |
|---|---|---|
| Median home value | $123,700 | $184,100 |
| Median property tax | $1,103 | $1,178 |
| Effective tax rate | 0.892% | 0.640% |
| Median gross rent | $794 | $961 |
| Population | 4,260 | 74,747 |
The weather behind that power bill
Lonoke sits in Lonoke County, which averages a high of 91.7°F in its hottest month and a low of 30.9°F in its coldest, with 50.42" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,989 cooling and 3,165 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Lonoke County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lonoke County
Full Lonoke County cost breakdown · Every county in Arkansas
Talk to someone who works this market
These are Lonoke 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 Lonoke every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lonoke I already own here and may sell
Common questions
How much does it cost to own a home in Lonoke?
A $124,000 home in Lonoke, Arkansas costs approximately $1,183 per month with 20% down at 7.24%. That is $676 principal and interest, $92 property tax, $93 homeowners insurance, $219 utilities and $103 set aside for maintenance.
What is the property tax rate in Lonoke?
Lonoke has an effective property tax rate of 0.892%, based on a median home value of $123,700 and median real estate taxes of $1,103. That is higher than the Lonoke County average of 0.640%.
What is the average home price in Lonoke?
The median owner-occupied home value in Lonoke, Arkansas is $123,700, against $184,100 across Lonoke County.
Is it cheaper to rent or buy in Lonoke?
Median gross rent in Lonoke is $794 a month, against $1,183 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 Lonoke?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lonoke, Arkansas at today's rate takes a household income of roughly $50,500 a year. That covers the full $1,183 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lonoke, 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.