Total monthly cost of ownership
Cost to Own a Home in Wills Point, Texas
A $120,000 home here costs
$1,234per 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 $53,000 a year.
A standard mortgage calculator would have told you $654. The real number is $580 higher every month, 89% more than the payment most buyers budget for.
Compare Van Zandt County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Wills Point from a five-year rolling sample, and with about 3,848 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 Van Zandt 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.
Wills Point against Van Zandt County and Texas
| Measure | Wills Point | Van Zandt County |
|---|---|---|
| Median home value | $120,100 | $199,500 |
| Median property tax | $1,897 | $2,204 |
| Effective tax rate | 1.580% | 1.105% |
| Median gross rent | $898 | $1,010 |
| Population | 3,848 | 61,323 |
The weather behind that power bill
Wills Point sits in Van Zandt County, which averages a high of 96.3°F in its hottest month and a low of 35.7°F in its coldest, with 38.42" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,738 cooling and 2,211 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Van Zandt County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Van Zandt County
Full Van Zandt County cost breakdown · Every county in Texas
Talk to someone who works this market
These are Wills Point 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 Wills Point every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Wills Point I already own here and may sell
Common questions
How much does it cost to own a home in Wills Point?
A $120,000 home in Wills Point, Texas costs approximately $1,234 per month with 20% down at 7.24%. That is $654 principal and interest, $158 property tax, $79 homeowners insurance, $242 utilities and $100 set aside for maintenance.
What is the property tax rate in Wills Point?
Wills Point has an effective property tax rate of 1.580%, based on a median home value of $120,100 and median real estate taxes of $1,897. That is higher than the Van Zandt County average of 1.105%.
What is the average home price in Wills Point?
The median owner-occupied home value in Wills Point, Texas is $120,100, against $199,500 across Van Zandt County.
Is it cheaper to rent or buy in Wills Point?
Median gross rent in Wills Point is $898 a month, against $1,234 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 Wills Point?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Wills Point, Texas at today's rate takes a household income of roughly $53,000 a year. That covers the full $1,234 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Wills Point, 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.