Total monthly cost of ownership
Cost to Own a Home in Wake Village, Texas
A $173,000 home here costs
$1,699per 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 $73,000 a year.
A standard mortgage calculator would have told you $943. The real number is $756 higher every month, 80% 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.
Wake Village against Bowie County and Texas
| Measure | Wake Village | Bowie County |
|---|---|---|
| Median home value | $172,900 | $161,300 |
| Median property tax | $3,058 | $2,091 |
| Effective tax rate | 1.769% | 1.296% |
| Median gross rent | $1,061 | $966 |
| Population | 5,887 | 92,321 |
The weather behind that power bill
Wake Village 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 Wake Village 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 Wake Village every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Wake Village I already own here and may sell
Common questions
How much does it cost to own a home in Wake Village?
A $173,000 home in Wake Village, Texas costs approximately $1,699 per month with 20% down at 7.24%. That is $943 principal and interest, $255 property tax, $114 homeowners insurance, $242 utilities and $144 set aside for maintenance.
What is the property tax rate in Wake Village?
Wake Village has an effective property tax rate of 1.769%, based on a median home value of $172,900 and median real estate taxes of $3,058. That is higher than the Bowie County average of 1.296%.
What is the average home price in Wake Village?
The median owner-occupied home value in Wake Village, Texas is $172,900, against $161,300 across Bowie County.
Is it cheaper to rent or buy in Wake Village?
Median gross rent in Wake Village is $1,061 a month, against $1,699 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 Wake Village?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Wake Village, Texas at today's rate takes a household income of roughly $73,000 a year. That covers the full $1,699 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Wake Village, 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.