Total monthly cost of ownership
Cost to Own a Home in Wheeler, Texas
A $130,000 home here costs
$1,305per 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 $56,000 a year.
A standard mortgage calculator would have told you $709. The real number is $597 higher every month, 84% more than the payment most buyers budget for.
Compare Wheeler County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Wheeler from a five-year rolling sample, and with about 1,401 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 Wheeler 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.
Wheeler against Wheeler County and Texas
| Measure | Wheeler | Wheeler County |
|---|---|---|
| Median home value | $130,000 | $97,600 |
| Median property tax | $1,917 | $1,411 |
| Effective tax rate | 1.475% | 1.446% |
| Median gross rent | $986 | $995 |
| Population | 1,401 | 4,902 |
The weather behind that power bill
Wheeler sits in Wheeler County, which averages a high of 93.8°F in its hottest month and a low of 23.8°F in its coldest, with 25.29" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 1,698 cooling and 3,972 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Wheeler County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Wheeler County
Talk to someone who works this market
These are Wheeler 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 Wheeler every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Wheeler I already own here and may sell
Common questions
How much does it cost to own a home in Wheeler?
A $130,000 home in Wheeler, Texas costs approximately $1,305 per month with 20% down at 7.24%. That is $709 principal and interest, $160 property tax, $86 homeowners insurance, $242 utilities and $108 set aside for maintenance.
What is the property tax rate in Wheeler?
Wheeler has an effective property tax rate of 1.475%, based on a median home value of $130,000 and median real estate taxes of $1,917. That is higher than the Wheeler County average of 1.446%.
What is the average home price in Wheeler?
The median owner-occupied home value in Wheeler, Texas is $130,000, against $97,600 across Wheeler County.
Is it cheaper to rent or buy in Wheeler?
Median gross rent in Wheeler is $986 a month, against $1,305 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 Wheeler?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Wheeler, Texas at today's rate takes a household income of roughly $56,000 a year. That covers the full $1,305 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Wheeler, 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.