Total monthly cost of ownership
Cost to Own a Home in Manila, Arkansas
A $150,000 home here costs
$1,343per 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 $57,500 a year.
A standard mortgage calculator would have told you $818. The real number is $525 higher every month, 64% more than the payment most buyers budget for.
Compare Mississippi County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Manila from a five-year rolling sample, and with about 3,675 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 Mississippi 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.
Manila against Mississippi County and Arkansas
| Measure | Manila | Mississippi County |
|---|---|---|
| Median home value | $150,300 | $115,800 |
| Median property tax | $832 | $646 |
| Effective tax rate | 0.554% | 0.558% |
| Median gross rent | $834 | $797 |
| Population | 3,675 | 39,749 |
The weather behind that power bill
Manila sits in Mississippi County, which averages a high of 91.1°F in its hottest month and a low of 30.7°F in its coldest, with 52.18" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,133 cooling and 3,356 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Mississippi County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mississippi County
Full Mississippi County cost breakdown · Every county in Arkansas
Talk to someone who works this market
These are Manila 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 Manila every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Manila I already own here and may sell
Common questions
How much does it cost to own a home in Manila?
A $150,000 home in Manila, Arkansas costs approximately $1,343 per month with 20% down at 7.24%. That is $818 principal and interest, $69 property tax, $112 homeowners insurance, $219 utilities and $125 set aside for maintenance.
What is the property tax rate in Manila?
Manila has an effective property tax rate of 0.554%, based on a median home value of $150,300 and median real estate taxes of $832. That is in line with the Mississippi County average of 0.558%.
What is the average home price in Manila?
The median owner-occupied home value in Manila, Arkansas is $150,300, against $115,800 across Mississippi County.
Is it cheaper to rent or buy in Manila?
Median gross rent in Manila is $834 a month, against $1,343 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 Manila?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Manila, Arkansas at today's rate takes a household income of roughly $57,500 a year. That covers the full $1,343 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Manila, 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.