Total monthly cost of ownership
Cost to Own a Home in Morrilton, Arkansas
A $151,000 home here costs
$1,285per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $776. The real number is $509 higher every month — 66% 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.
Morrilton against Conway County and Arkansas
| Measure | Morrilton | Conway County |
|---|---|---|
| Median home value | $150,900 | $137,000 |
| Median property tax | $876 | $718 |
| Effective tax rate | 0.581% | 0.524% |
| Median gross rent | $623 | $721 |
| Population | 7,022 | 20,872 |
The weather behind that power bill
Morrilton sits in Conway County, which averages a high of 92.6°F in its hottest month and a low of 29.1°F in its coldest, with 51.2" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,955 cooling and 3,359 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Conway County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Conway County
Full Conway County cost breakdown · Every county in Arkansas
Common questions
How much does it cost to own a home in Morrilton?
A $151,000 home in Morrilton, Arkansas costs approximately $1,285 per month with 20% down at 6.66%. That is $776 principal and interest, $73 property tax, $113 homeowners insurance, $197 utilities and $126 set aside for maintenance.
What is the property tax rate in Morrilton?
Morrilton has an effective property tax rate of 0.581%, based on a median home value of $150,900 and median real estate taxes of $876. That is higher than the Conway County average of 0.524%.
What is the average home price in Morrilton?
The median owner-occupied home value in Morrilton, Arkansas is $150,900, against $137,000 across Conway County.
Is it cheaper to rent or buy in Morrilton?
Median gross rent in Morrilton is $623 a month, against $1,285 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 Morrilton — 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.