Total monthly cost of ownership
Cost to Own a Home in Monahans, Texas
A $159,000 home here costs
$1,335per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $817. The real number is $518 higher every month — 63% 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.
Monahans against Ward County and Texas
| Measure | Monahans | Ward County |
|---|---|---|
| Median home value | $159,000 | $138,800 |
| Median property tax | $772 | $833 |
| Effective tax rate | 0.486% | 0.600% |
| Median gross rent | $919 | $939 |
| Population | 7,536 | 11,255 |
Monahans extends across 2 counties. Figures here use Ward County, where most of its housing sits.
The weather behind that power bill
Monahans sits in Ward County, which averages a high of 96.5°F in its hottest month and a low of 32.4°F in its coldest, with 13.38" of precipitation a year and 45% of it in a single three-month stretch. That climate drives 2,597 cooling and 2,290 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Ward County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Ward County
Common questions
How much does it cost to own a home in Monahans?
A $159,000 home in Monahans, Texas costs approximately $1,335 per month with 20% down at 6.66%. That is $817 principal and interest, $64 property tax, $105 homeowners insurance, $216 utilities and $133 set aside for maintenance.
What is the property tax rate in Monahans?
Monahans has an effective property tax rate of 0.486%, based on a median home value of $159,000 and median real estate taxes of $772. That is lower than the Ward County average of 0.600%.
What is the average home price in Monahans?
The median owner-occupied home value in Monahans, Texas is $159,000, against $138,800 across Ward County.
Is it cheaper to rent or buy in Monahans?
Median gross rent in Monahans is $919 a month, against $1,335 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 Monahans — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Texas.
- 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.