Total monthly cost of ownership
Cost to Own a Home in Manila, Arkansas
A $150,000 home here costs
$1,274per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $771. The real number is $503 higher every month — 65% 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.
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 $129 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
Common questions
How much does it cost to own a home in Manila?
A $150,000 home in Manila, Arkansas costs approximately $1,274 per month with 20% down at 6.66%. That is $771 principal and interest, $69 property tax, $112 homeowners insurance, $197 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 $1,274 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 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.