Total monthly cost of ownership
Cost to Own a Home in Mayflower, Arkansas
A $164,000 home here costs
$1,385per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $843. The real number is $542 higher every month — 64% 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.
Mayflower against Faulkner County and Arkansas
| Measure | Mayflower | Faulkner County |
|---|---|---|
| Median home value | $163,900 | $211,300 |
| Median property tax | $1,029 | $1,201 |
| Effective tax rate | 0.628% | 0.568% |
| Median gross rent | $984 | $980 |
| Population | 2,802 | 126,001 |
The weather behind that power bill
Mayflower sits in Faulkner County, which averages a high of 91.7°F in its hottest month and a low of 28.3°F in its coldest, with 50.54" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,697 cooling and 3,575 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Faulkner County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Faulkner County
Full Faulkner County cost breakdown · Every county in Arkansas
Common questions
How much does it cost to own a home in Mayflower?
A $164,000 home in Mayflower, Arkansas costs approximately $1,385 per month with 20% down at 6.66%. That is $843 principal and interest, $86 property tax, $122 homeowners insurance, $197 utilities and $137 set aside for maintenance.
What is the property tax rate in Mayflower?
Mayflower has an effective property tax rate of 0.628%, based on a median home value of $163,900 and median real estate taxes of $1,029. That is higher than the Faulkner County average of 0.568%.
What is the average home price in Mayflower?
The median owner-occupied home value in Mayflower, Arkansas is $163,900, against $211,300 across Faulkner County.
Is it cheaper to rent or buy in Mayflower?
Median gross rent in Mayflower is $984 a month, against $1,385 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 Mayflower — 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.