Total monthly cost of ownership
Cost to Own a Home in Vernon, Texas
A $90,000 home here costs
$989per 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 $42,500 a year.
A standard mortgage calculator would have told you $491. The real number is $499 higher every month, 102% more than the payment most buyers budget for.
Compare Wilbarger 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.
Vernon against Wilbarger County and Texas
| Measure | Vernon | Wilbarger County |
|---|---|---|
| Median home value | $89,700 | $98,800 |
| Median property tax | $1,458 | $1,456 |
| Effective tax rate | 1.625% | 1.474% |
| Median gross rent | $870 | $862 |
| Population | 9,947 | 12,712 |
The weather behind that power bill
Vernon sits in Wilbarger County, which averages a high of 97.2°F in its hottest month and a low of 28.7°F in its coldest, with 28.36" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 2,466 cooling and 2,999 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Wilbarger County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Wilbarger County
No other places of this size are published in Wilbarger County.
Full Wilbarger County cost breakdown · Every county in Texas
Talk to someone who works this market
These are Vernon 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 Vernon every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Vernon I already own here and may sell
Common questions
How much does it cost to own a home in Vernon?
A $90,000 home in Vernon, Texas costs approximately $989 per month with 20% down at 7.24%. That is $491 principal and interest, $122 property tax, $60 homeowners insurance, $242 utilities and $75 set aside for maintenance.
What is the property tax rate in Vernon?
Vernon has an effective property tax rate of 1.625%, based on a median home value of $89,700 and median real estate taxes of $1,458. That is higher than the Wilbarger County average of 1.474%.
What is the average home price in Vernon?
The median owner-occupied home value in Vernon, Texas is $89,700, against $98,800 across Wilbarger County.
Is it cheaper to rent or buy in Vernon?
Median gross rent in Vernon is $870 a month, against $989 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 Vernon?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Vernon, Texas at today's rate takes a household income of roughly $42,500 a year. That covers the full $989 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Vernon, 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.