Total monthly cost of ownership
Cost to Own a Home in Nocona, Texas
A $115,000 home here costs
$1,150per 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 $49,500 a year.
A standard mortgage calculator would have told you $627. The real number is $523 higher every month, 83% more than the payment most buyers budget for.
Compare Montague County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Nocona from a five-year rolling sample, and with about 3,073 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 Montague 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.
Nocona against Montague County and Texas
| Measure | Nocona | Montague County |
|---|---|---|
| Median home value | $114,900 | $189,400 |
| Median property tax | $1,300 | $1,802 |
| Effective tax rate | 1.131% | 0.951% |
| Median gross rent | $717 | $957 |
| Population | 3,073 | 20,599 |
The weather behind that power bill
Nocona sits in Montague County, which averages a high of 95.7°F in its hottest month and a low of 30.5°F in its coldest, with 35.35" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 2,420 cooling and 2,853 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Montague County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Montague County
Talk to someone who works this market
These are Nocona 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 Nocona every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Nocona I already own here and may sell
Common questions
How much does it cost to own a home in Nocona?
A $115,000 home in Nocona, Texas costs approximately $1,150 per month with 20% down at 7.24%. That is $627 principal and interest, $108 property tax, $76 homeowners insurance, $242 utilities and $96 set aside for maintenance.
What is the property tax rate in Nocona?
Nocona has an effective property tax rate of 1.131%, based on a median home value of $114,900 and median real estate taxes of $1,300. That is higher than the Montague County average of 0.951%.
What is the average home price in Nocona?
The median owner-occupied home value in Nocona, Texas is $114,900, against $189,400 across Montague County.
Is it cheaper to rent or buy in Nocona?
Median gross rent in Nocona is $717 a month, against $1,150 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 Nocona?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Nocona, Texas at today's rate takes a household income of roughly $49,500 a year. That covers the full $1,150 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Nocona, 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.