Total monthly cost of ownership
Cost to Own a Home in Oak Ridge North, Texas
A $282,000 home here costs
$2,493per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,450. The real number is $1,043 higher every month — 72% 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.
Oak Ridge North against Montgomery County and Texas
| Measure | Oak Ridge North | Montgomery County |
|---|---|---|
| Median home value | $282,100 | $317,500 |
| Median property tax | $4,870 | $5,237 |
| Effective tax rate | 1.726% | 1.649% |
| Median gross rent | $2,267 | $1,471 |
| Population | 3,019 | 654,722 |
The weather behind that power bill
Oak Ridge North sits in Montgomery County, which averages a high of 95.8°F in its hottest month and a low of 41.9°F in its coldest, with 51.02" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 3,172 cooling and 1,440 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Montgomery County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Montgomery County
Full Montgomery County cost breakdown · Every county in Texas
Common questions
How much does it cost to own a home in Oak Ridge North?
A $282,000 home in Oak Ridge North, Texas costs approximately $2,493 per month with 20% down at 6.66%. That is $1,450 principal and interest, $406 property tax, $187 homeowners insurance, $216 utilities and $235 set aside for maintenance.
What is the property tax rate in Oak Ridge North?
Oak Ridge North has an effective property tax rate of 1.726%, based on a median home value of $282,100 and median real estate taxes of $4,870. That is higher than the Montgomery County average of 1.649%.
What is the average home price in Oak Ridge North?
The median owner-occupied home value in Oak Ridge North, Texas is $282,100, against $317,500 across Montgomery County.
Is it cheaper to rent or buy in Oak Ridge North?
Median gross rent in Oak Ridge North is $2,267 a month, against $2,493 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 Oak Ridge North — 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.