The typical owner-occupied home in Tolar is worth about $198,100, 30% below the Texas median of $283,800 and 40% below the national median of $332,700. Owners pay a median $3,191 a year in property taxes, about 1.61% of their home's value, higher than the Texas rate of 1.49%. The median household earns $91,250 a year, so the median home costs 2.2 times the median income (3.6 times for Texas). 76% of occupied homes here are lived in by their owners, and 69% of those owners still have a mortgage.
Tolar at a glance
| Tolar | Texas | U.S. | |
|---|---|---|---|
| Median home value | $198,100 | $283,800 | $332,700 |
| Median property tax paid per year | $3,191 | $4,232 | $3,119 |
| Property tax as a share of value | 1.61% | 1.49% | 0.94% |
| Median household income | $91,250 | $78,476 | $80,734 |
| Homes lived in by their owners | 76% | 63% | 65% |
| Owner homes with a mortgage | 69% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,486 | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 18.3% | 21.7% | 21.0% |
| Median rent | $1,700 | $1,403 | $1,413 |
| Rent as a share of renters' income | 48.9% | 30.9% | 30.6% |
| Median year homes were built | 2003 | 1992 | 1980 |
| Vacant homes | 2.6% | 9.4% | 10.1% |
| Population | 1,585 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Tolar
At this week's average 30-year rate of 7.11%, buying the median Tolar home of $198,100 with 20% down costs about $1,414 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,744, 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 $60,619 for the 20%-down payment. That payment is 19% of the median Tolar household income of $91,250; at that income and 20% down, the 28% guideline points to a home of about $298,000.
The median rent here is $1,700 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $39,620 |
|---|---|
| Loan amount | $158,480 |
| Principal and interest | $1,066 |
| Property taxes (1.61% a year) | $266 |
| Homeowners insurance (our estimate, 0.5% a year) | $83 |
| PMI | $0 |
| Total per month | $1,414 |
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| Down payment | $6,934 |
|---|---|
| Loan amount | $194,512 |
| Principal and interest | $1,308 |
| Property taxes (1.61% a year) | $266 |
| Homeowners insurance (our estimate, 0.5% a year) | $83 |
| FHA mortgage insurance | $88 |
| Total per month | $1,744 |
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Questions about home buying in Tolar
What is the median home value in Tolar?
About $198,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Tolar?
Homeowners pay a median $3,191 a year, which is about 1.61% 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 Tolar?
For the median home with 20% down at 7.11%, the payment is about $1,414 a month. Keeping that under 28% of gross income takes about $60,619 a year.
More about Tolar
- Mortgage Refinance in Tolar
- Debt Relief in Tolar
- Home Equity Loans in Tolar
- 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