Total monthly cost of ownership
Cost to Own a Home in Pine Island, Texas
A $367,000 home here costs
$2,999per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,887. The real number is $1,112 higher every month — 59% 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.
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 $148 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
Common questions
How much does it cost to own a home in Pine Island?
A $367,000 home in Pine Island, Texas costs approximately $2,999 per month with 20% down at 6.66%. That is $1,887 principal and interest, $348 property tax, $243 homeowners insurance, $216 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 $2,999 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 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.