Total monthly cost of ownership
Cost to Own a Home in Texarkana, Texas
A $160,000 home here costs
$1,542per 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 $66,000 a year.
A standard mortgage calculator would have told you $872. The real number is $670 higher every month, 77% more than the payment most buyers budget for.
Compare Bowie 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 Bowie County and Texas
| Measure | Texarkana | Bowie County |
|---|---|---|
| Median home value | $159,700 | $161,300 |
| Median property tax | $2,258 | $2,091 |
| Effective tax rate | 1.414% | 1.296% |
| Median gross rent | $990 | $966 |
| Population | 36,039 | 92,321 |
The weather behind that power bill
Texarkana sits in Bowie County, which averages a high of 94.2°F in its hottest month and a low of 31.6°F in its coldest, with 52.82" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,115 cooling and 2,767 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Bowie County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bowie County
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.
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Common questions
How much does it cost to own a home in Texarkana?
A $160,000 home in Texarkana, Texas costs approximately $1,542 per month with 20% down at 7.24%. That is $872 principal and interest, $189 property tax, $106 homeowners insurance, $242 utilities and $133 set aside for maintenance.
What is the property tax rate in Texarkana?
Texarkana has an effective property tax rate of 1.414%, based on a median home value of $159,700 and median real estate taxes of $2,258. That is higher than the Bowie County average of 1.296%.
What is the average home price in Texarkana?
The median owner-occupied home value in Texarkana, Texas is $159,700, against $161,300 across Bowie County.
Is it cheaper to rent or buy in Texarkana?
Median gross rent in Texarkana is $990 a month, against $1,542 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, Texas at today's rate takes a household income of roughly $66,000 a year. That covers the full $1,542 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 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.