Total monthly cost of ownership
Cost to Own a Home in Willow Park, Texas
A $339,000 home here costs
$3,021per 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 $129,500 a year.
A standard mortgage calculator would have told you $1,848. The real number is $1,173 higher every month, 63% more than the payment most buyers budget for.
Compare Parker 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.
Willow Park against Parker County and Texas
| Measure | Willow Park | Parker County |
|---|---|---|
| Median home value | $339,100 | $343,600 |
| Median property tax | $5,090 | $4,978 |
| Effective tax rate | 1.501% | 1.449% |
| Median gross rent | $2,514 | $1,440 |
| Population | 5,447 | 158,079 |
The weather behind that power bill
Willow Park sits in Parker County, which averages a high of 94.7°F in its hottest month and a low of 31.8°F in its coldest, with 35.18" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,388 cooling and 2,637 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Parker County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Parker County
Talk to someone who works this market
These are Willow Park 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 Willow Park every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Willow Park I already own here and may sell
Common questions
How much does it cost to own a home in Willow Park?
A $339,000 home in Willow Park, Texas costs approximately $3,021 per month with 20% down at 7.24%. That is $1,848 principal and interest, $424 property tax, $224 homeowners insurance, $242 utilities and $283 set aside for maintenance.
What is the property tax rate in Willow Park?
Willow Park has an effective property tax rate of 1.501%, based on a median home value of $339,100 and median real estate taxes of $5,090. That is higher than the Parker County average of 1.449%.
What is the average home price in Willow Park?
The median owner-occupied home value in Willow Park, Texas is $339,100, against $343,600 across Parker County.
Is it cheaper to rent or buy in Willow Park?
Median gross rent in Willow Park is $2,514 a month, against $3,021 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 Willow Park?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Willow Park, Texas at today's rate takes a household income of roughly $129,500 a year. That covers the full $3,021 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Willow Park, 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.