The typical owner-occupied home in Salado is worth about $221,800, 18% above the Arkansas median of $188,000 and 33% below the national median of $332,700. Owners pay a median $1,613 a year in property taxes, about 0.73% of their home's value, higher than the Arkansas rate of 0.55%. The median household earns $39,355 a year, so the median home costs 5.6 times the median income (3.1 times for Arkansas). 43% of occupied homes here are lived in by their owners, and 56% of those owners still have a mortgage.
Salado at a glance
| Salado | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $221,800 | $188,000 | $332,700 |
| Median property tax paid per year | $1,613 | $1,040 | $3,119 |
| Property tax as a share of value | 0.73% | 0.55% | 0.94% |
| Median household income | $39,355 | $60,773 | $80,734 |
| Homes lived in by their owners | 43% | 66% | 65% |
| Owner homes with a mortgage | 56% | 53% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,345 | $1,963 |
| Median rent | – | $947 | $1,413 |
| Median year homes were built | 1984 | 1987 | 1980 |
| Vacant homes | 41.8% | 13.5% | 10.1% |
| Population | 507 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Salado
At this week's average 30-year rate of 7.11%, buying the median Salado home of $221,800 with 20% down costs about $1,421 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,790, 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 $60,900 for the 20%-down payment. That payment is 43% of the median Salado household income of $39,355; at that income and 20% down, the 28% guideline points to a home of about $143,000.
| Down payment | $44,360 |
|---|---|
| Loan amount | $177,440 |
| Principal and interest | $1,194 |
| Property taxes (0.73% a year) | $135 |
| Homeowners insurance (our estimate, 0.5% a year) | $92 |
| PMI | $0 |
| Total per month | $1,421 |
Change the numbers in the calculator
| Down payment | $7,763 |
|---|---|
| Loan amount | $217,783 |
| Principal and interest | $1,465 |
| Property taxes (0.73% a year) | $135 |
| Homeowners insurance (our estimate, 0.5% a year) | $92 |
| FHA mortgage insurance | $98 |
| Total per month | $1,790 |
Change the numbers in the calculator
Questions about home buying in Salado
What is the median home value in Salado?
About $221,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Salado?
Homeowners pay a median $1,613 a year, which is about 0.73% 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 Salado?
For the median home with 20% down at 7.11%, the payment is about $1,421 a month. Keeping that under 28% of gross income takes about $60,900 a year.
More about Salado
- Mortgage Refinance in Salado
- Debt Relief in Salado
- Home Equity Loans in Salado
- 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