Total monthly cost of ownership
Cost to Own a Home in Temple, Texas
A $220,000 home here costs
$2,084per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $89,500 a year.
A standard mortgage calculator would have told you $1,219. The real number is $865 higher every month, 71% more than the payment most buyers budget for.
Compare Bell 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.
Temple against Bell County and Texas
| Measure | Temple | Bell County |
|---|---|---|
| Median home value | $220,300 | $221,100 |
| Median property tax | $3,537 | $3,409 |
| Effective tax rate | 1.606% | 1.542% |
| Median gross rent | $1,174 | $1,168 |
| Population | 86,358 | 379,811 |
The weather behind that power bill
Temple sits in Bell County, which averages a high of 96.0°F in its hottest month and a low of 35.7°F in its coldest, with 36.97" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,630 cooling and 2,032 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Bell County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bell County
Talk to someone who works this market
These are Temple 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 Temple every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Temple I already own here and may sell
Common questions
How much does it cost to own a home in Temple?
A $220,000 home in Temple, Texas costs approximately $2,084 per month with 20% down at 7.4%. That is $1,219 principal and interest, $294 property tax, $146 homeowners insurance, $242 utilities and $183 set aside for maintenance.
What is the property tax rate in Temple?
Temple has an effective property tax rate of 1.606%, based on a median home value of $220,300 and median real estate taxes of $3,537. That is higher than the Bell County average of 1.542%.
What is the average home price in Temple?
The median owner-occupied home value in Temple, Texas is $220,300, against $221,100 across Bell County.
Is it cheaper to rent or buy in Temple?
Median gross rent in Temple is $1,174 a month, against $2,084 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 Temple?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Temple, Texas at today's rate takes a household income of roughly $89,500 a year. That covers the full $2,084 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Temple, 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.