The typical owner-occupied home in Cave City is worth about $120,700, 36% below the Arkansas median of $188,000 and 64% below the national median of $332,700. Owners pay a median $529 a year in property taxes, about 0.44% of their home's value, lower than the Arkansas rate of 0.55%. The median household earns $49,800 a year, so the median home costs 2.4 times the median income (3.1 times for Arkansas). 56% of occupied homes here are lived in by their owners, and 67% of those owners still have a mortgage.
Cave City at a glance
| Cave City | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $120,700 | $188,000 | $332,700 |
| Median property tax paid per year | $529 | $1,040 | $3,119 |
| Property tax as a share of value | 0.44% | 0.55% | 0.94% |
| Median household income | $49,800 | $60,773 | $80,734 |
| Homes lived in by their owners | 56% | 66% | 65% |
| Owner homes with a mortgage | 67% | 53% | 61% |
| Median monthly costs, owners with a mortgage | $1,136 | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 16.2% | 18.5% | 21.0% |
| Median rent | $716 | $947 | $1,413 |
| Rent as a share of renters' income | 30.2% | 27.6% | 30.6% |
| Median year homes were built | 1981 | 1987 | 1980 |
| Vacant homes | 21.5% | 13.5% | 10.1% |
| Population | 2,090 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Cave City
At this week's average 30-year rate of 7.11%, buying the median Cave City home of $120,700 with 20% down costs about $744 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $945, 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 $31,891 for the 20%-down payment. That payment is 18% of the median Cave City household income of $49,800; at that income and 20% down, the 28% guideline points to a home of about $188,000.
The median rent here is $716 a month, so owning the median home costs about $28 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $24,140 |
|---|---|
| Loan amount | $96,560 |
| Principal and interest | $650 |
| Property taxes (0.44% a year) | $44 |
| Homeowners insurance (our estimate, 0.5% a year) | $50 |
| PMI | $0 |
| Total per month | $744 |
Change the numbers in the calculator
| Down payment | $4,224 |
|---|---|
| Loan amount | $118,514 |
| Principal and interest | $797 |
| Property taxes (0.44% a year) | $44 |
| Homeowners insurance (our estimate, 0.5% a year) | $50 |
| FHA mortgage insurance | $53 |
| Total per month | $945 |
Change the numbers in the calculator
Questions about home buying in Cave City
What is the median home value in Cave City?
About $120,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cave City?
Homeowners pay a median $529 a year, which is about 0.44% 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 Cave City?
For the median home with 20% down at 7.11%, the payment is about $744 a month. Keeping that under 28% of gross income takes about $31,891 a year.
More about Cave City
- Mortgage Refinance in Cave City
- Debt Relief in Cave City
- Home Equity Loans in Cave City
- 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