Total monthly cost of ownership
Cost to Own a Home in Pine Island, Texas
A $367,000 home here costs
$3,140per 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 $134,500 a year.
A standard mortgage calculator would have told you $2,001. The real number is $1,139 higher every month, 57% more than the payment most buyers budget for.
Compare Waller County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Pine Island from a five-year rolling sample, and with about 1,226 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Waller County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Pine Island against Waller County and Texas
| Measure | Pine Island | Waller County |
|---|---|---|
| Median home value | $367,400 | $292,000 |
| Median property tax | $4,181 | $3,971 |
| Effective tax rate | 1.138% | 1.360% |
| Median gross rent | $647 | $1,210 |
| Population | 1,226 | 59,455 |
The weather behind that power bill
Pine Island sits in Waller County, which averages a high of 94.8°F in its hottest month and a low of 42.7°F in its coldest, with 50.82" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 3,146 cooling and 1,368 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Waller County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Waller County
Talk to someone who works this market
These are Pine Island 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 Pine Island every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Pine Island I already own here and may sell
Common questions
How much does it cost to own a home in Pine Island?
A $367,000 home in Pine Island, Texas costs approximately $3,140 per month with 20% down at 7.24%. That is $2,001 principal and interest, $348 property tax, $243 homeowners insurance, $242 utilities and $306 set aside for maintenance.
What is the property tax rate in Pine Island?
Pine Island has an effective property tax rate of 1.138%, based on a median home value of $367,400 and median real estate taxes of $4,181. That is lower than the Waller County average of 1.360%.
What is the average home price in Pine Island?
The median owner-occupied home value in Pine Island, Texas is $367,400, against $292,000 across Waller County.
Is it cheaper to rent or buy in Pine Island?
Median gross rent in Pine Island is $647 a month, against $3,140 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 Pine Island?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Pine Island, Texas at today's rate takes a household income of roughly $134,500 a year. That covers the full $3,140 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Pine Island, 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.