Total monthly cost of ownership
Cost to Own a Home in New Waverly, Texas
A $188,000 home here costs
$1,740per 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 $74,500 a year.
A standard mortgage calculator would have told you $1,025. The real number is $715 higher every month, 70% more than the payment most buyers budget for.
Compare Walker County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for New Waverly from a five-year rolling sample, and with about 1,311 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 Walker 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.
New Waverly against Walker County and Texas
| Measure | New Waverly | Walker County |
|---|---|---|
| Median home value | $188,000 | $207,900 |
| Median property tax | $2,294 | $2,312 |
| Effective tax rate | 1.220% | 1.112% |
| Median gross rent | $1,049 | $986 |
| Population | 1,311 | 78,292 |
The weather behind that power bill
New Waverly sits in Walker County, which averages a high of 95.2°F in its hottest month and a low of 41.2°F in its coldest, with 43.65" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 3,014 cooling and 1,637 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Walker County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Walker County
Talk to someone who works this market
These are New Waverly 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 New Waverly every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in New Waverly I already own here and may sell
Common questions
How much does it cost to own a home in New Waverly?
A $188,000 home in New Waverly, Texas costs approximately $1,740 per month with 20% down at 7.24%. That is $1,025 principal and interest, $191 property tax, $124 homeowners insurance, $242 utilities and $157 set aside for maintenance.
What is the property tax rate in New Waverly?
New Waverly has an effective property tax rate of 1.220%, based on a median home value of $188,000 and median real estate taxes of $2,294. That is higher than the Walker County average of 1.112%.
What is the average home price in New Waverly?
The median owner-occupied home value in New Waverly, Texas is $188,000, against $207,900 across Walker County.
Is it cheaper to rent or buy in New Waverly?
Median gross rent in New Waverly is $1,049 a month, against $1,740 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 New Waverly?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in New Waverly, Texas at today's rate takes a household income of roughly $74,500 a year. That covers the full $1,740 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for New Waverly, 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.