Total monthly cost of ownership
Cost to Own a Home in Mena, Arkansas
A $114,000 home here costs
$1,008per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $586. The real number is $422 higher every month — 72% 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.
Mena against Polk County and Arkansas
| Measure | Mena | Polk County |
|---|---|---|
| Median home value | $114,200 | $122,600 |
| Median property tax | $535 | $541 |
| Effective tax rate | 0.468% | 0.441% |
| Median gross rent | $720 | $699 |
| Population | 5,605 | 19,348 |
The weather behind that power bill
Mena sits in Polk County, which averages a high of 89.7°F in its hottest month and a low of 27.7°F in its coldest, with 61.43" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,534 cooling and 3,644 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Polk County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Polk County
No other places of this size are published in Polk County.
Common questions
How much does it cost to own a home in Mena?
A $114,000 home in Mena, Arkansas costs approximately $1,008 per month with 20% down at 6.66%. That is $586 principal and interest, $44 property tax, $85 homeowners insurance, $197 utilities and $95 set aside for maintenance.
What is the property tax rate in Mena?
Mena has an effective property tax rate of 0.468%, based on a median home value of $114,200 and median real estate taxes of $535. That is higher than the Polk County average of 0.441%.
What is the average home price in Mena?
The median owner-occupied home value in Mena, Arkansas is $114,200, against $122,600 across Polk County.
Is it cheaper to rent or buy in Mena?
Median gross rent in Mena is $720 a month, against $1,008 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 Mena — 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.