Total monthly cost of ownership
Cost to Own a Home in Palestine, Texas
A $153,000 home here costs
$1,406per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $787. The real number is $619 higher every month — 79% 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.
Palestine against Anderson County and Texas
| Measure | Palestine | Anderson County |
|---|---|---|
| Median home value | $153,400 | $173,400 |
| Median property tax | $2,099 | $1,688 |
| Effective tax rate | 1.368% | 0.973% |
| Median gross rent | $1,032 | $1,006 |
| Population | 18,888 | 57,825 |
The weather behind that power bill
Palestine sits in Anderson County, which averages a high of 94.7°F in its hottest month and a low of 35.2°F in its coldest, with 46.8" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 2,478 cooling and 2,229 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Anderson County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Anderson County
Common questions
How much does it cost to own a home in Palestine?
A $153,000 home in Palestine, Texas costs approximately $1,406 per month with 20% down at 6.66%. That is $787 principal and interest, $174 property tax, $101 homeowners insurance, $216 utilities and $128 set aside for maintenance.
What is the property tax rate in Palestine?
Palestine has an effective property tax rate of 1.368%, based on a median home value of $153,400 and median real estate taxes of $2,099. That is higher than the Anderson County average of 0.973%.
What is the average home price in Palestine?
The median owner-occupied home value in Palestine, Texas is $153,400, against $173,400 across Anderson County.
Is it cheaper to rent or buy in Palestine?
Median gross rent in Palestine is $1,032 a month, against $1,406 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 Palestine — 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.