Total monthly cost of ownership
Cost to Own a Home in Paragould, Arkansas
A $175,000 home here costs
$1,521per 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 $65,000 a year.
A standard mortgage calculator would have told you $954. The real number is $567 higher every month, 59% more than the payment most buyers budget for.
Compare Greene County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Paragould against Greene County and Arkansas
| Measure | Paragould | Greene County |
|---|---|---|
| Median home value | $175,400 | $162,200 |
| Median property tax | $868 | $792 |
| Effective tax rate | 0.495% | 0.488% |
| Median gross rent | $883 | $852 |
| Population | 29,940 | 46,182 |
The weather behind that power bill
Paragould sits in Greene County, which averages a high of 89.8°F in its hottest month and a low of 28.2°F in its coldest, with 51.74" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,795 cooling and 3,709 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Greene County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Greene County
Full Greene County cost breakdown · Every county in Arkansas
Talk to someone who works this market
These are Paragould 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 Paragould every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Paragould I already own here and may sell
Common questions
How much does it cost to own a home in Paragould?
A $175,000 home in Paragould, Arkansas costs approximately $1,521 per month with 20% down at 7.24%. That is $954 principal and interest, $72 property tax, $131 homeowners insurance, $219 utilities and $146 set aside for maintenance.
What is the property tax rate in Paragould?
Paragould has an effective property tax rate of 0.495%, based on a median home value of $175,400 and median real estate taxes of $868. That is in line with the Greene County average of 0.488%.
What is the average home price in Paragould?
The median owner-occupied home value in Paragould, Arkansas is $175,400, against $162,200 across Greene County.
Is it cheaper to rent or buy in Paragould?
Median gross rent in Paragould is $883 a month, against $1,521 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 Paragould?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Paragould, Arkansas at today's rate takes a household income of roughly $65,000 a year. That covers the full $1,521 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Paragould, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Arkansas.
- 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.