Total monthly cost of ownership
Cost to Own a Home in Prescott, Arkansas
A $95,000 home here costs
$873per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $488. The real number is $385 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.
Prescott against Nevada County and Arkansas
| Measure | Prescott | Nevada County |
|---|---|---|
| Median home value | $95,100 | $85,700 |
| Median property tax | $454 | $462 |
| Effective tax rate | 0.477% | 0.539% |
| Median gross rent | $863 | $841 |
| Population | 3,063 | 8,228 |
The weather behind that power bill
Prescott sits in Nevada County, which averages a high of 91.9°F in its hottest month and a low of 29.7°F in its coldest, with 56.58" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,944 cooling and 3,055 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Nevada County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Nevada County
No other places of this size are published in Nevada County.
Full Nevada County cost breakdown · Every county in Arkansas
Common questions
How much does it cost to own a home in Prescott?
A $95,000 home in Prescott, Arkansas costs approximately $873 per month with 20% down at 6.66%. That is $488 principal and interest, $38 property tax, $71 homeowners insurance, $197 utilities and $79 set aside for maintenance.
What is the property tax rate in Prescott?
Prescott has an effective property tax rate of 0.477%, based on a median home value of $95,100 and median real estate taxes of $454. That is lower than the Nevada County average of 0.539%.
What is the average home price in Prescott?
The median owner-occupied home value in Prescott, Arkansas is $95,100, against $85,700 across Nevada County.
Is it cheaper to rent or buy in Prescott?
Median gross rent in Prescott is $863 a month, against $873 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 Prescott — 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.