The typical owner-occupied home in Panola is worth about $46,500, 77% below the Oklahoma median of $199,800 and 86% below the national median of $332,700. Owners pay a median $277 a year in property taxes, about 0.60% of their home's value, lower than the Oklahoma rate of 0.80%. The median household earns $41,856 a year, so the median home costs 1.1 times the median income (3.1 times for Oklahoma). 100% of occupied homes here are lived in by their owners, and 10% of those owners still have a mortgage.
Panola at a glance
| Panola | Oklahoma | U.S. | |
|---|---|---|---|
| Median home value | $46,500 | $199,800 | $332,700 |
| Median property tax paid per year | $277 | $1,599 | $3,119 |
| Property tax as a share of value | 0.60% | 0.80% | 0.94% |
| Median household income | $41,856 | $65,039 | $80,734 |
| Homes lived in by their owners | 100% | 66% | 65% |
| Owner homes with a mortgage | 10% | 54% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,539 | $1,963 |
| Median rent | – | $1,014 | $1,413 |
| Median year homes were built | 2002 | 1980 | 1980 |
| Vacant homes | 15.0% | 12.0% | 10.1% |
| Population | 101 | 4,028,634 | 334,922,499 |
What a typical home costs per month in Panola
At this week's average 30-year rate of 7.11%, buying the median Panola home of $46,500 with 20% down costs about $293 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $370, 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 $12,552 for the 20%-down payment. That payment is 8% of the median Panola household income of $41,856; at that income and 20% down, the 28% guideline points to a home of about $155,000.
| Down payment | $9,300 |
|---|---|
| Loan amount | $37,200 |
| Principal and interest | $250 |
| Property taxes (0.60% a year) | $23 |
| Homeowners insurance (our estimate, 0.5% a year) | $19 |
| PMI | $0 |
| Total per month | $293 |
Change the numbers in the calculator
| Down payment | $1,628 |
|---|---|
| Loan amount | $45,658 |
| Principal and interest | $307 |
| Property taxes (0.60% a year) | $23 |
| Homeowners insurance (our estimate, 0.5% a year) | $19 |
| FHA mortgage insurance | $21 |
| Total per month | $370 |
Change the numbers in the calculator
Questions about home buying in Panola
What is the median home value in Panola?
About $46,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Panola?
Homeowners pay a median $277 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 Panola?
For the median home with 20% down at 7.11%, the payment is about $293 a month. Keeping that under 28% of gross income takes about $12,552 a year.
More about Panola
- Mortgage Refinance in Panola
- Debt Relief in Panola
- Home Equity Loans in Panola
- 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