Total monthly cost of ownership
Cost to Own a Home in Muleshoe, Texas
A $100,000 home here costs
$1,054per 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 $45,000 a year.
A standard mortgage calculator would have told you $545. The real number is $509 higher every month, 93% more than the payment most buyers budget for.
Compare Bailey 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.
Muleshoe against Bailey County and Texas
| Measure | Muleshoe | Bailey County |
|---|---|---|
| Median home value | $100,100 | $104,400 |
| Median property tax | $1,404 | $1,533 |
| Effective tax rate | 1.403% | 1.468% |
| Median gross rent | $745 | $744 |
| Population | 5,328 | 7,044 |
The weather behind that power bill
Muleshoe sits in Bailey County, which averages a high of 92.4°F in its hottest month and a low of 22.0°F in its coldest, with 17.94" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 1,347 cooling and 3,941 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Bailey County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bailey County
No other places of this size are published in Bailey County.
Talk to someone who works this market
These are Muleshoe 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 Muleshoe every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Muleshoe I already own here and may sell
Common questions
How much does it cost to own a home in Muleshoe?
A $100,000 home in Muleshoe, Texas costs approximately $1,054 per month with 20% down at 7.24%. That is $545 principal and interest, $117 property tax, $66 homeowners insurance, $242 utilities and $83 set aside for maintenance.
What is the property tax rate in Muleshoe?
Muleshoe has an effective property tax rate of 1.403%, based on a median home value of $100,100 and median real estate taxes of $1,404. That is lower than the Bailey County average of 1.468%.
What is the average home price in Muleshoe?
The median owner-occupied home value in Muleshoe, Texas is $100,100, against $104,400 across Bailey County.
Is it cheaper to rent or buy in Muleshoe?
Median gross rent in Muleshoe is $745 a month, against $1,054 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 Muleshoe?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Muleshoe, Texas at today's rate takes a household income of roughly $45,000 a year. That covers the full $1,054 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Muleshoe, 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.