Total monthly cost of ownership
Cost to Own a Home in Walters, Oklahoma
A $127,000 home here costs
$1,220per 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 $52,500 a year.
A standard mortgage calculator would have told you $692. The real number is $527 higher every month, 76% more than the payment most buyers budget for.
Compare Cotton County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Walters from a five-year rolling sample, and with about 2,173 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Cotton County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Walters against Cotton County and Oklahoma
| Measure | Walters | Cotton County |
|---|---|---|
| Median home value | $127,100 | $113,200 |
| Median property tax | $848 | $712 |
| Effective tax rate | 0.667% | 0.629% |
| Median gross rent | $699 | $742 |
| Population | 2,173 | 5,475 |
The weather behind that power bill
Walters sits in Cotton County, which averages a high of 96.6°F in its hottest month and a low of 27.3°F in its coldest, with 33.31" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 2,264 cooling and 3,241 heating degree days, which is what sets the $160 electricity line above.
See the full climate breakdown for Cotton County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cotton County
No other places of this size are published in Cotton County.
Full Cotton County cost breakdown · Every county in Oklahoma
Talk to someone who works this market
These are Walters 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 Walters every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Walters I already own here and may sell
Common questions
How much does it cost to own a home in Walters?
A $127,000 home in Walters, Oklahoma costs approximately $1,220 per month with 20% down at 7.24%. That is $692 principal and interest, $71 property tax, $123 homeowners insurance, $228 utilities and $106 set aside for maintenance.
What is the property tax rate in Walters?
Walters has an effective property tax rate of 0.667%, based on a median home value of $127,100 and median real estate taxes of $848. That is higher than the Cotton County average of 0.629%.
What is the average home price in Walters?
The median owner-occupied home value in Walters, Oklahoma is $127,100, against $113,200 across Cotton County.
Is it cheaper to rent or buy in Walters?
Median gross rent in Walters is $699 a month, against $1,220 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 Walters?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Walters, Oklahoma at today's rate takes a household income of roughly $52,500 a year. That covers the full $1,220 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Walters, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Oklahoma.
- 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.