Total monthly cost of ownership
Cost to Own a Home in Monahans, Texas
A $159,000 home here costs
$1,411per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $60,500 a year.
A standard mortgage calculator would have told you $867. The real number is $544 higher every month, 63% more than the payment most buyers budget for.
Compare Ward County with anywhere in America · full county breakdown
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 $174 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
Talk to someone who works this market
These are Monahans averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Monahans every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Monahans I already own here and may sell
Common questions
How much does it cost to own a home in Monahans?
A $159,000 home in Monahans, Texas costs approximately $1,411 per month with 20% down at 7.24%. That is $867 principal and interest, $64 property tax, $105 homeowners insurance, $242 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 $1,411 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Monahans?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Monahans, Texas at today's rate takes a household income of roughly $60,500 a year. That covers the full $1,411 monthly cost, not just the mortgage payment.
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.