Total monthly cost of ownership
Cost to Own a Home in Newton, Texas
A $96,000 home here costs
$1,001per 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 $43,000 a year.
A standard mortgage calculator would have told you $523. The real number is $478 higher every month, 91% more than the payment most buyers budget for.
Compare Newton County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Newton from a five-year rolling sample, and with about 2,225 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 Newton 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.
Newton against Newton County and Texas
| Measure | Newton | Newton County |
|---|---|---|
| Median home value | $95,800 | $83,100 |
| Median property tax | $1,099 | $856 |
| Effective tax rate | 1.147% | 1.030% |
| Median gross rent | $1,005 | $877 |
| Population | 2,225 | 12,193 |
The weather behind that power bill
Newton sits in Newton County, which averages a high of 93.8°F in its hottest month and a low of 37.8°F in its coldest, with 57.34" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 2,522 cooling and 1,953 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Newton County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Newton County
No other places of this size are published in Newton County.
Talk to someone who works this market
These are Newton 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 Newton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Newton I already own here and may sell
Common questions
How much does it cost to own a home in Newton?
A $96,000 home in Newton, Texas costs approximately $1,001 per month with 20% down at 7.24%. That is $523 principal and interest, $92 property tax, $64 homeowners insurance, $242 utilities and $80 set aside for maintenance.
What is the property tax rate in Newton?
Newton has an effective property tax rate of 1.147%, based on a median home value of $95,800 and median real estate taxes of $1,099. That is higher than the Newton County average of 1.030%.
What is the average home price in Newton?
The median owner-occupied home value in Newton, Texas is $95,800, against $83,100 across Newton County.
Is it cheaper to rent or buy in Newton?
Median gross rent in Newton is $1,005 a month, against $1,001 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 Newton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Newton, Texas at today's rate takes a household income of roughly $43,000 a year. That covers the full $1,001 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Newton, 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.