Total monthly cost of ownership
Cost to Own a Home in Preston, Idaho
A $281,000 home here costs
$2,154per 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 $92,500 a year.
A standard mortgage calculator would have told you $1,532. The real number is $622 higher every month, 41% more than the payment most buyers budget for.
Compare Franklin 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.
Preston against Franklin County and Idaho
| Measure | Preston | Franklin County |
|---|---|---|
| Median home value | $280,500 | $304,000 |
| Median property tax | $1,665 | $1,512 |
| Effective tax rate | 0.594% | 0.497% |
| Median gross rent | $794 | $831 |
| Population | 5,800 | 14,715 |
The weather behind that power bill
Preston sits in Franklin County, which averages a high of 89.2°F in its hottest month and a low of 15.3°F in its coldest, with 17.3" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 461 cooling and 6,994 heating degree days, which is what sets the $126 electricity line above.
See the full climate breakdown for Franklin County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Franklin County
No other places of this size are published in Franklin County.
Talk to someone who works this market
These are Preston 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 Preston every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Preston I already own here and may sell
Common questions
How much does it cost to own a home in Preston?
A $281,000 home in Preston, Idaho costs approximately $2,154 per month with 20% down at 7.24%. That is $1,532 principal and interest, $139 property tax, $55 homeowners insurance, $194 utilities and $234 set aside for maintenance.
What is the property tax rate in Preston?
Preston has an effective property tax rate of 0.594%, based on a median home value of $280,500 and median real estate taxes of $1,665. That is higher than the Franklin County average of 0.497%.
What is the average home price in Preston?
The median owner-occupied home value in Preston, Idaho is $280,500, against $304,000 across Franklin County.
Is it cheaper to rent or buy in Preston?
Median gross rent in Preston is $794 a month, against $2,154 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 Preston?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Preston, Idaho at today's rate takes a household income of roughly $92,500 a year. That covers the full $2,154 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Preston, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Idaho.
- 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.