Total monthly cost of ownership
Cost to Own a Home in Shallowater, Texas
A $210,000 home here costs
$2,017per 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 $86,500 a year.
A standard mortgage calculator would have told you $1,145. The real number is $872 higher every month, 76% more than the payment most buyers budget for.
Compare Lubbock County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Shallowater from a five-year rolling sample, and with about 2,935 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 Lubbock 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.
Shallowater against Lubbock County and Texas
| Measure | Shallowater | Lubbock County |
|---|---|---|
| Median home value | $210,400 | $199,600 |
| Median property tax | $3,795 | $3,119 |
| Effective tax rate | 1.804% | 1.563% |
| Median gross rent | $1,179 | $1,134 |
| Population | 2,935 | 314,633 |
The weather behind that power bill
Shallowater sits in Lubbock County, which averages a high of 93.4°F in its hottest month and a low of 27.2°F in its coldest, with 18.33" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 1,950 cooling and 3,243 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Lubbock County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lubbock County
Talk to someone who works this market
These are Shallowater 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 Shallowater every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Shallowater I already own here and may sell
Common questions
How much does it cost to own a home in Shallowater?
A $210,000 home in Shallowater, Texas costs approximately $2,017 per month with 20% down at 7.24%. That is $1,145 principal and interest, $316 property tax, $139 homeowners insurance, $242 utilities and $175 set aside for maintenance.
What is the property tax rate in Shallowater?
Shallowater has an effective property tax rate of 1.804%, based on a median home value of $210,400 and median real estate taxes of $3,795. That is higher than the Lubbock County average of 1.563%.
What is the average home price in Shallowater?
The median owner-occupied home value in Shallowater, Texas is $210,400, against $199,600 across Lubbock County.
Is it cheaper to rent or buy in Shallowater?
Median gross rent in Shallowater is $1,179 a month, against $2,017 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 Shallowater?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Shallowater, Texas at today's rate takes a household income of roughly $86,500 a year. That covers the full $2,017 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Shallowater, 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.