Total monthly cost of ownership
Cost to Own a Home in Texarkana, Arkansas
A $163,000 home here costs
$1,451per 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 $62,000 a year.
A standard mortgage calculator would have told you $889. The real number is $563 higher every month, 63% more than the payment most buyers budget for.
Compare Miller 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.
Texarkana against Miller County and Arkansas
| Measure | Texarkana | Miller County |
|---|---|---|
| Median home value | $162,700 | $148,200 |
| Median property tax | $1,036 | $916 |
| Effective tax rate | 0.637% | 0.618% |
| Median gross rent | $893 | $882 |
| Population | 29,343 | 42,588 |
The weather behind that power bill
Texarkana sits in Miller County, which averages a high of 92.8°F in its hottest month and a low of 35.1°F in its coldest, with 48.87" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,249 cooling and 2,578 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Miller County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Miller County
Full Miller County cost breakdown · Every county in Arkansas
Talk to someone who works this market
These are Texarkana 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 Texarkana every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Texarkana I already own here and may sell
Common questions
How much does it cost to own a home in Texarkana?
A $163,000 home in Texarkana, Arkansas costs approximately $1,451 per month with 20% down at 7.24%. That is $889 principal and interest, $87 property tax, $122 homeowners insurance, $219 utilities and $136 set aside for maintenance.
What is the property tax rate in Texarkana?
Texarkana has an effective property tax rate of 0.637%, based on a median home value of $162,700 and median real estate taxes of $1,036. That is higher than the Miller County average of 0.618%.
What is the average home price in Texarkana?
The median owner-occupied home value in Texarkana, Arkansas is $162,700, against $148,200 across Miller County.
Is it cheaper to rent or buy in Texarkana?
Median gross rent in Texarkana is $893 a month, against $1,451 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 Texarkana?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Texarkana, Arkansas at today's rate takes a household income of roughly $62,000 a year. That covers the full $1,451 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Texarkana, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Arkansas.
- 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.