The typical owner-occupied home in Damon is worth about $92,500, 67% below the Texas median of $283,800 and 72% below the national median of $332,700. 35% of occupied homes here are lived in by their owners, and 0% of those owners still have a mortgage.
Damon at a glance
| Damon | Texas | U.S. | |
|---|---|---|---|
| Median home value | $92,500 | $283,800 | $332,700 |
| Median property tax paid per year | – | $4,232 | $3,119 |
| Median household income | – | $78,476 | $80,734 |
| Homes lived in by their owners | 35% | 63% | 65% |
| Owner homes with a mortgage | 0% | 56% | 61% |
| Median monthly costs, owners with a mortgage | – | $2,106 | $1,963 |
| Median rent | $1,183 | $1,403 | $1,413 |
| Rent as a share of renters' income | 18.7% | 30.9% | 30.6% |
| Median year homes were built | 2001 | 1992 | 1980 |
| Vacant homes | 37.3% | 9.4% | 10.1% |
| Population | 196 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Damon
At this week's average 30-year rate of 7.11%, buying the median Damon home of $92,500 with 20% down costs about $621 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $775, 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 $26,620 for the 20%-down payment.
The median rent here is $1,183 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $18,500 |
|---|---|
| Loan amount | $74,000 |
| Principal and interest | $498 |
| Property taxes (1.10% a year) | $85 |
| Homeowners insurance (our estimate, 0.5% a year) | $39 |
| PMI | $0 |
| Total per month | $621 |
Change the numbers in the calculator
| Down payment | $3,238 |
|---|---|
| Loan amount | $90,825 |
| Principal and interest | $611 |
| Property taxes (1.10% a year) | $85 |
| Homeowners insurance (our estimate, 0.5% a year) | $39 |
| FHA mortgage insurance | $41 |
| Total per month | $775 |
Change the numbers in the calculator
Questions about home buying in Damon
What is the median home value in Damon?
About $92,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Damon?
For the median home with 20% down at 7.11%, the payment is about $621 a month. Keeping that under 28% of gross income takes about $26,620 a year.
More about Damon
- Mortgage Refinance in Damon
- Debt Relief in Damon
- Home Equity Loans in Damon
- 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