Total monthly cost of ownership
Cost to Own a Home in Pampa, Texas
A $96,000 home here costs
$977per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $494. The real number is $484 higher every month — 98% 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.
Pampa against Gray County and Texas
| Measure | Pampa | Gray County |
|---|---|---|
| Median home value | $95,800 | $100,400 |
| Median property tax | $1,493 | $1,435 |
| Effective tax rate | 1.558% | 1.429% |
| Median gross rent | $898 | $898 |
| Population | 16,735 | 21,131 |
The weather behind that power bill
Pampa sits in Gray County, which averages a high of 92.8°F in its hottest month and a low of 23.2°F in its coldest, with 22.79" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 1,600 cooling and 4,175 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Gray County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Gray County
No other places of this size are published in Gray County.
Common questions
How much does it cost to own a home in Pampa?
A $96,000 home in Pampa, Texas costs approximately $977 per month with 20% down at 6.66%. That is $494 principal and interest, $125 property tax, $64 homeowners insurance, $216 utilities and $80 set aside for maintenance.
What is the property tax rate in Pampa?
Pampa has an effective property tax rate of 1.558%, based on a median home value of $95,800 and median real estate taxes of $1,493. That is higher than the Gray County average of 1.429%.
What is the average home price in Pampa?
The median owner-occupied home value in Pampa, Texas is $95,800, against $100,400 across Gray County.
Is it cheaper to rent or buy in Pampa?
Median gross rent in Pampa is $898 a month, against $977 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 Pampa — 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.