Total monthly cost of ownership
Cost to Own a Home in Midway, Arkansas
A $141,000 home here costs
$1,188per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $725. The real number is $463 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.
Midway against Baxter County and Arkansas
| Measure | Midway | Baxter County |
|---|---|---|
| Median home value | $140,600 | $165,400 |
| Median property tax | $512 | $765 |
| Effective tax rate | 0.364% | 0.463% |
| Median gross rent | $1,043 | $866 |
| Population | 1,296 | 42,150 |
The weather behind that power bill
Midway sits in Baxter County, which averages a high of 89.7°F in its hottest month and a low of 27.5°F in its coldest, with 41.19" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,594 cooling and 3,815 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Baxter County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Baxter County
Full Baxter County cost breakdown · Every county in Arkansas
Common questions
How much does it cost to own a home in Midway?
A $141,000 home in Midway, Arkansas costs approximately $1,188 per month with 20% down at 6.66%. That is $725 principal and interest, $43 property tax, $105 homeowners insurance, $197 utilities and $118 set aside for maintenance.
What is the property tax rate in Midway?
Midway has an effective property tax rate of 0.364%, based on a median home value of $140,600 and median real estate taxes of $512. That is lower than the Baxter County average of 0.463%.
What is the average home price in Midway?
The median owner-occupied home value in Midway, Arkansas is $140,600, against $165,400 across Baxter County.
Is it cheaper to rent or buy in Midway?
Median gross rent in Midway is $1,043 a month, against $1,188 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 Midway — 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.