Total monthly cost of ownership
Cost to Own a Home in Preston, Texas
A $185,000 home here costs
$1,554per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $951. The real number is $603 higher every month — 63% 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.
Preston against Grayson County and Texas
| Measure | Preston | Grayson County |
|---|---|---|
| Median home value | $184,600 | $228,300 |
| Median property tax | $1,327 | $2,953 |
| Effective tax rate | 0.719% | 1.293% |
| Median gross rent | $1,704 | $1,178 |
| Population | 1,617 | 139,988 |
The weather behind that power bill
Preston sits in Grayson County, which averages a high of 92.7°F in its hottest month and a low of 33.9°F in its coldest, with 44.29" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,261 cooling and 2,727 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Grayson County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Grayson County
Common questions
How much does it cost to own a home in Preston?
A $185,000 home in Preston, Texas costs approximately $1,554 per month with 20% down at 6.66%. That is $951 principal and interest, $111 property tax, $122 homeowners insurance, $216 utilities and $154 set aside for maintenance.
What is the property tax rate in Preston?
Preston has an effective property tax rate of 0.719%, based on a median home value of $184,600 and median real estate taxes of $1,327. That is lower than the Grayson County average of 1.293%.
What is the average home price in Preston?
The median owner-occupied home value in Preston, Texas is $184,600, against $228,300 across Grayson County.
Is it cheaper to rent or buy in Preston?
Median gross rent in Preston is $1,704 a month, against $1,554 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
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 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.