Total monthly cost of ownership
Cost to Own a Home in Olton, Texas
A $47,000 home here costs
$582per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $242. The real number is $340 higher every month — 141% 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.
Olton against Lamb County and Texas
| Measure | Olton | Lamb County |
|---|---|---|
| Median home value | $46,800 | $76,600 |
| Median property tax | $650 | $913 |
| Effective tax rate | 1.389% | 1.192% |
| Median gross rent | $840 | $900 |
| Population | 1,568 | 12,919 |
The weather behind that power bill
Olton sits in Lamb County, which averages a high of 92.4°F in its hottest month and a low of 22.0°F in its coldest, with 17.94" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 1,347 cooling and 3,941 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Lamb County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lamb County
Common questions
How much does it cost to own a home in Olton?
A $47,000 home in Olton, Texas costs approximately $582 per month with 20% down at 6.66%. That is $242 principal and interest, $54 property tax, $31 homeowners insurance, $216 utilities and $39 set aside for maintenance.
What is the property tax rate in Olton?
Olton has an effective property tax rate of 1.389%, based on a median home value of $46,800 and median real estate taxes of $650. That is higher than the Lamb County average of 1.192%.
What is the average home price in Olton?
The median owner-occupied home value in Olton, Texas is $46,800, against $76,600 across Lamb County.
Is it cheaper to rent or buy in Olton?
Median gross rent in Olton is $840 a month, against $582 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Olton — 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.