Total monthly cost of ownership
Cost to Own a Home in Magnolia, Arkansas
A $167,000 home here costs
$1,392per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $859. The real number is $534 higher every month — 62% 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.
Magnolia against Columbia County and Arkansas
| Measure | Magnolia | Columbia County |
|---|---|---|
| Median home value | $166,500 | $141,700 |
| Median property tax | $870 | $683 |
| Effective tax rate | 0.523% | 0.482% |
| Median gross rent | $622 | $631 |
| Population | 10,973 | 22,527 |
The weather behind that power bill
Magnolia sits in Columbia County, which averages a high of 92.7°F in its hottest month and a low of 31.1°F in its coldest, with 56.31" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,008 cooling and 2,848 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Columbia County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Columbia County
Full Columbia County cost breakdown · Every county in Arkansas
Common questions
How much does it cost to own a home in Magnolia?
A $167,000 home in Magnolia, Arkansas costs approximately $1,392 per month with 20% down at 6.66%. That is $859 principal and interest, $73 property tax, $125 homeowners insurance, $197 utilities and $139 set aside for maintenance.
What is the property tax rate in Magnolia?
Magnolia has an effective property tax rate of 0.523%, based on a median home value of $166,500 and median real estate taxes of $870. That is higher than the Columbia County average of 0.482%.
What is the average home price in Magnolia?
The median owner-occupied home value in Magnolia, Arkansas is $166,500, against $141,700 across Columbia County.
Is it cheaper to rent or buy in Magnolia?
Median gross rent in Magnolia is $622 a month, against $1,392 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 Magnolia — 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.