The typical owner-occupied home in Midland is worth about $64,300, 66% below the Arkansas median of $188,000 and 81% below the national median of $332,700. Owners pay a median $383 a year in property taxes, about 0.60% of their home's value, higher than the Arkansas rate of 0.55%. The median household earns $36,461 a year, so the median home costs 1.8 times the median income (3.1 times for Arkansas). 42% of occupied homes here are lived in by their owners, and 32% of those owners still have a mortgage.
Midland at a glance
| Midland | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $64,300 | $188,000 | $332,700 |
| Median property tax paid per year | $383 | $1,040 | $3,119 |
| Property tax as a share of value | 0.60% | 0.55% | 0.94% |
| Median household income | $36,461 | $60,773 | $80,734 |
| Homes lived in by their owners | 42% | 66% | 65% |
| Owner homes with a mortgage | 32% | 53% | 61% |
| Median monthly costs, owners with a mortgage | $685 | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 15.7% | 18.5% | 21.0% |
| Median rent | $1,119 | $947 | $1,413 |
| Rent as a share of renters' income | 32.6% | 27.6% | 30.6% |
| Median year homes were built | 1938 | 1987 | 1980 |
| Vacant homes | 3.0% | 13.5% | 10.1% |
| Population | 262 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Midland
At this week's average 30-year rate of 7.11%, buying the median Midland home of $64,300 with 20% down costs about $405 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $512, 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 $17,356 for the 20%-down payment. That payment is 13% of the median Midland household income of $36,461; at that income and 20% down, the 28% guideline points to a home of about $135,000.
The median rent here is $1,119 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $12,860 |
|---|---|
| Loan amount | $51,440 |
| Principal and interest | $346 |
| Property taxes (0.60% a year) | $32 |
| Homeowners insurance (our estimate, 0.5% a year) | $27 |
| PMI | $0 |
| Total per month | $405 |
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| Down payment | $2,250 |
|---|---|
| Loan amount | $63,135 |
| Principal and interest | $425 |
| Property taxes (0.60% a year) | $32 |
| Homeowners insurance (our estimate, 0.5% a year) | $27 |
| FHA mortgage insurance | $28 |
| Total per month | $512 |
Change the numbers in the calculator
Questions about home buying in Midland
What is the median home value in Midland?
About $64,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Midland?
Homeowners pay a median $383 a year, which is about 0.60% 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 Midland?
For the median home with 20% down at 7.11%, the payment is about $405 a month. Keeping that under 28% of gross income takes about $17,356 a year.
More about Midland
- Mortgage Refinance in Midland
- Debt Relief in Midland
- Home Equity Loans in Midland
- 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