Total monthly cost of ownership
Cost to Own a Home in Sulphur Springs, Texas
A $188,000 home here costs
$1,744per 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 $75,000 a year.
A standard mortgage calculator would have told you $1,025. The real number is $719 higher every month, 70% more than the payment most buyers budget for.
Compare Hopkins 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.
Sulphur Springs against Hopkins County and Texas
| Measure | Sulphur Springs | Hopkins County |
|---|---|---|
| Median home value | $188,200 | $193,200 |
| Median property tax | $2,354 | $2,072 |
| Effective tax rate | 1.251% | 1.072% |
| Median gross rent | $1,049 | $1,038 |
| Population | 16,185 | 37,351 |
The weather behind that power bill
Sulphur Springs sits in Hopkins County, which averages a high of 94.9°F in its hottest month and a low of 34.0°F in its coldest, with 46.5" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,517 cooling and 2,514 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Hopkins County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hopkins County
No other places of this size are published in Hopkins County.
Talk to someone who works this market
These are Sulphur Springs 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 Sulphur Springs every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Sulphur Springs I already own here and may sell
Common questions
How much does it cost to own a home in Sulphur Springs?
A $188,000 home in Sulphur Springs, Texas costs approximately $1,744 per month with 20% down at 7.24%. That is $1,025 principal and interest, $196 property tax, $124 homeowners insurance, $242 utilities and $157 set aside for maintenance.
What is the property tax rate in Sulphur Springs?
Sulphur Springs has an effective property tax rate of 1.251%, based on a median home value of $188,200 and median real estate taxes of $2,354. That is higher than the Hopkins County average of 1.072%.
What is the average home price in Sulphur Springs?
The median owner-occupied home value in Sulphur Springs, Texas is $188,200, against $193,200 across Hopkins County.
Is it cheaper to rent or buy in Sulphur Springs?
Median gross rent in Sulphur Springs is $1,049 a month, against $1,744 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 Sulphur Springs?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Sulphur Springs, Texas at today's rate takes a household income of roughly $75,000 a year. That covers the full $1,744 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Sulphur Springs, 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.