The typical owner-occupied home in Petrolia is worth about $95,600, 66% below the Texas median of $283,800 and 71% below the national median of $332,700. Owners pay a median $1,202 a year in property taxes, about 1.26% of their home's value, lower than the Texas rate of 1.49%. The median household earns $63,750 a year, so the median home costs 1.5 times the median income (3.6 times for Texas). 82% of occupied homes here are lived in by their owners, and 29% of those owners still have a mortgage.
Petrolia at a glance
| Petrolia | Texas | U.S. | |
|---|---|---|---|
| Median home value | $95,600 | $283,800 | $332,700 |
| Median property tax paid per year | $1,202 | $4,232 | $3,119 |
| Property tax as a share of value | 1.26% | 1.49% | 0.94% |
| Median household income | $63,750 | $78,476 | $80,734 |
| Homes lived in by their owners | 82% | 63% | 65% |
| Owner homes with a mortgage | 29% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,162 | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 16.0% | 21.7% | 21.0% |
| Median rent | $942 | $1,403 | $1,413 |
| Rent as a share of renters' income | 26.4% | 30.9% | 30.6% |
| Median year homes were built | 1962 | 1992 | 1980 |
| Vacant homes | 38.0% | 9.4% | 10.1% |
| Population | 416 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Petrolia
At this week's average 30-year rate of 7.11%, buying the median Petrolia home of $95,600 with 20% down costs about $655 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $814, 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 $28,059 for the 20%-down payment. That payment is 12% of the median Petrolia household income of $63,750; at that income and 20% down, the 28% guideline points to a home of about $217,000.
The median rent here is $942 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $19,120 |
|---|---|
| Loan amount | $76,480 |
| Principal and interest | $514 |
| Property taxes (1.26% a year) | $100 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| PMI | $0 |
| Total per month | $655 |
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| Down payment | $3,346 |
|---|---|
| Loan amount | $93,868 |
| Principal and interest | $631 |
| Property taxes (1.26% a year) | $100 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| FHA mortgage insurance | $42 |
| Total per month | $814 |
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Questions about home buying in Petrolia
What is the median home value in Petrolia?
About $95,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Petrolia?
Homeowners pay a median $1,202 a year, which is about 1.26% 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 Petrolia?
For the median home with 20% down at 7.11%, the payment is about $655 a month. Keeping that under 28% of gross income takes about $28,059 a year.
More about Petrolia
- Mortgage Refinance in Petrolia
- Debt Relief in Petrolia
- Home Equity Loans in Petrolia
- 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