The typical owner-occupied home in Decatur is worth about $157,600, 16% below the Arkansas median of $188,000 and 53% below the national median of $332,700. Owners pay a median $832 a year in property taxes, about 0.53% of their home's value, close to the Arkansas rate of 0.55%. The median household earns $45,179 a year, so the median home costs 3.5 times the median income (3.1 times for Arkansas). 39% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
Decatur at a glance
| Decatur | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $157,600 | $188,000 | $332,700 |
| Median property tax paid per year | $832 | $1,040 | $3,119 |
| Property tax as a share of value | 0.53% | 0.55% | 0.94% |
| Median household income | $45,179 | $60,773 | $80,734 |
| Homes lived in by their owners | 39% | 66% | 65% |
| Owner homes with a mortgage | 61% | 53% | 61% |
| Median monthly costs, owners with a mortgage | $1,027 | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 21.2% | 18.5% | 21.0% |
| Median rent | $813 | $947 | $1,413 |
| Rent as a share of renters' income | 26.4% | 27.6% | 30.6% |
| Median year homes were built | 1994 | 1987 | 1980 |
| Vacant homes | 12.5% | 13.5% | 10.1% |
| Population | 1,567 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Decatur
At this week's average 30-year rate of 7.11%, buying the median Decatur home of $157,600 with 20% down costs about $983 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,246, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $42,147 for the 20%-down payment. That payment is 26% of the median Decatur household income of $45,179; at that income and 20% down, the 28% guideline points to a home of about $169,000.
The median rent here is $813 a month, so owning the median home costs about $170 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $31,520 |
|---|---|
| Loan amount | $126,080 |
| Principal and interest | $848 |
| Property taxes (0.53% a year) | $70 |
| Homeowners insurance (our estimate, 0.5% a year) | $66 |
| PMI | $0 |
| Total per month | $983 |
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| Down payment | $5,516 |
|---|---|
| Loan amount | $154,745 |
| Principal and interest | $1,041 |
| Property taxes (0.53% a year) | $70 |
| Homeowners insurance (our estimate, 0.5% a year) | $66 |
| FHA mortgage insurance | $70 |
| Total per month | $1,246 |
Change the numbers in the calculator
Questions about home buying in Decatur
What is the median home value in Decatur?
About $157,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Decatur?
Homeowners pay a median $832 a year, which is about 0.53% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Decatur?
For the median home with 20% down at 7.11%, the payment is about $983 a month. Keeping that under 28% of gross income takes about $42,147 a year.
More about Decatur
- Mortgage Refinance in Decatur
- Debt Relief in Decatur
- Home Equity Loans in Decatur
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data