Total monthly cost of ownership
Cost to Own a Home in Murfreesboro, Arkansas
A $106,000 home here costs
$949per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $545. The real number is $404 higher every month — 74% 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.
Murfreesboro against Pike County and Arkansas
| Measure | Murfreesboro | Pike County |
|---|---|---|
| Median home value | $105,500 | $115,400 |
| Median property tax | $474 | $645 |
| Effective tax rate | 0.449% | 0.559% |
| Median gross rent | $536 | $671 |
| Population | 1,815 | 10,182 |
The weather behind that power bill
Murfreesboro sits in Pike County, which averages a high of 90.7°F in its hottest month and a low of 28.6°F in its coldest, with 58.35" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,626 cooling and 3,395 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Pike County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Pike County
Common questions
How much does it cost to own a home in Murfreesboro?
A $106,000 home in Murfreesboro, Arkansas costs approximately $949 per month with 20% down at 6.66%. That is $545 principal and interest, $40 property tax, $79 homeowners insurance, $197 utilities and $88 set aside for maintenance.
What is the property tax rate in Murfreesboro?
Murfreesboro has an effective property tax rate of 0.449%, based on a median home value of $105,500 and median real estate taxes of $474. That is lower than the Pike County average of 0.559%.
What is the average home price in Murfreesboro?
The median owner-occupied home value in Murfreesboro, Arkansas is $105,500, against $115,400 across Pike County.
Is it cheaper to rent or buy in Murfreesboro?
Median gross rent in Murfreesboro is $536 a month, against $949 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 Murfreesboro — 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.