Total monthly cost of ownership
Cost to Own a Home in Lonoke, Arkansas
A $124,000 home here costs
$1,123per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $637. The real number is $485 higher every month — 76% 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.
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 $129 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
Common questions
How much does it cost to own a home in Lonoke?
A $124,000 home in Lonoke, Arkansas costs approximately $1,123 per month with 20% down at 6.66%. That is $637 principal and interest, $92 property tax, $93 homeowners insurance, $197 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 $1,123 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 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.