Total monthly cost of ownership
Cost to Own a Home in Westminster, Texas
A $383,000 home here costs
$3,236per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,969. The real number is $1,267 higher every month — 64% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Westminster against Collin County and Texas
| Measure | Westminster | Collin County |
|---|---|---|
| Median home value | $383,100 | $447,600 |
| Median property tax | $5,744 | $7,432 |
| Effective tax rate | 1.499% | 1.660% |
| Median gross rent | $1,286 | $1,792 |
| Population | 1,105 | 1,116,601 |
The weather behind that power bill
Westminster sits in Collin County, which averages a high of 95.5°F in its hottest month and a low of 33.9°F in its coldest, with 38.3" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,531 cooling and 2,497 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Collin County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Collin County
Common questions
How much does it cost to own a home in Westminster?
A $383,000 home in Westminster, Texas costs approximately $3,236 per month with 20% down at 6.66%. That is $1,969 principal and interest, $478 property tax, $253 homeowners insurance, $216 utilities and $319 set aside for maintenance.
What is the property tax rate in Westminster?
Westminster has an effective property tax rate of 1.499%, based on a median home value of $383,100 and median real estate taxes of $5,744. That is lower than the Collin County average of 1.660%.
What is the average home price in Westminster?
The median owner-occupied home value in Westminster, Texas is $383,100, against $447,600 across Collin County.
Is it cheaper to rent or buy in Westminster?
Median gross rent in Westminster is $1,286 a month, against $3,236 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Westminster — 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.