Total monthly cost of ownership
Cost to Own a Home in Wolfforth, Texas
A $245,000 home here costs
$2,270per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,260. The real number is $1,010 higher every month — 80% 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.
Wolfforth against Lubbock County and Texas
| Measure | Wolfforth | Lubbock County |
|---|---|---|
| Median home value | $245,000 | $199,600 |
| Median property tax | $5,136 | $3,119 |
| Effective tax rate | 2.096% | 1.563% |
| Median gross rent | $1,430 | $1,134 |
| Population | 6,189 | 314,633 |
The weather behind that power bill
Wolfforth sits in Lubbock County, which averages a high of 93.4°F in its hottest month and a low of 27.2°F in its coldest, with 18.33" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 1,950 cooling and 3,243 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Lubbock County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lubbock County
Common questions
How much does it cost to own a home in Wolfforth?
A $245,000 home in Wolfforth, Texas costs approximately $2,270 per month with 20% down at 6.66%. That is $1,260 principal and interest, $428 property tax, $162 homeowners insurance, $216 utilities and $204 set aside for maintenance.
What is the property tax rate in Wolfforth?
Wolfforth has an effective property tax rate of 2.096%, based on a median home value of $245,000 and median real estate taxes of $5,136. That is higher than the Lubbock County average of 1.563%.
What is the average home price in Wolfforth?
The median owner-occupied home value in Wolfforth, Texas is $245,000, against $199,600 across Lubbock County.
Is it cheaper to rent or buy in Wolfforth?
Median gross rent in Wolfforth is $1,430 a month, against $2,270 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 Wolfforth — 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.