Total monthly cost of ownership
Cost to Own a Home in Morton, Texas
A $46,000 home here costs
$607per 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 $26,000 a year.
A standard mortgage calculator would have told you $251. The real number is $356 higher every month, 142% more than the payment most buyers budget for.
Compare Cochran County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Morton from a five-year rolling sample, and with about 1,510 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Cochran County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Morton against Cochran County and Texas
| Measure | Morton | Cochran County |
|---|---|---|
| Median home value | $45,500 | $57,700 |
| Median property tax | $529 | $684 |
| Effective tax rate | 1.163% | 1.185% |
| Median gross rent | $703 | $738 |
| Population | 1,510 | 2,520 |
The weather behind that power bill
Morton sits in Cochran County, which averages a high of 93.0°F in its hottest month and a low of 24.4°F in its coldest, with 17.59" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 1,585 cooling and 3,605 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Cochran County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cochran County
No other places of this size are published in Cochran County.
Talk to someone who works this market
These are Morton 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 Morton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Morton I already own here and may sell
Common questions
How much does it cost to own a home in Morton?
A $46,000 home in Morton, Texas costs approximately $607 per month with 20% down at 7.24%. That is $251 principal and interest, $45 property tax, $30 homeowners insurance, $242 utilities and $38 set aside for maintenance.
What is the property tax rate in Morton?
Morton has an effective property tax rate of 1.163%, based on a median home value of $45,500 and median real estate taxes of $529. That is lower than the Cochran County average of 1.185%.
What is the average home price in Morton?
The median owner-occupied home value in Morton, Texas is $45,500, against $57,700 across Cochran County.
Is it cheaper to rent or buy in Morton?
Median gross rent in Morton is $703 a month, against $607 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Morton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Morton, Texas at today's rate takes a household income of roughly $26,000 a year. That covers the full $607 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Morton, 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.