The typical owner-occupied home in Elmo is worth about $199,200, 30% below the Texas median of $283,800 and 40% below the national median of $332,700. Owners pay a median $2,865 a year in property taxes, about 1.44% of their home's value, close to the Texas rate of 1.49%. 58% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Elmo at a glance
| Elmo | Texas | U.S. | |
|---|---|---|---|
| Median home value | $199,200 | $283,800 | $332,700 |
| Median property tax paid per year | $2,865 | $4,232 | $3,119 |
| Property tax as a share of value | 1.44% | 1.49% | 0.94% |
| Median household income | – | $78,476 | $80,734 |
| Homes lived in by their owners | 58% | 63% | 65% |
| Owner homes with a mortgage | 53% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,711 | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 22.9% | 21.7% | 21.0% |
| Median rent | – | $1,403 | $1,413 |
| Median year homes were built | 1987 | 1992 | 1980 |
| Vacant homes | 3.6% | 9.4% | 10.1% |
| Population | 1,379 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Elmo
At this week's average 30-year rate of 7.11%, buying the median Elmo home of $199,200 with 20% down costs about $1,394 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,726, 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 $59,745 for the 20%-down payment.
| Down payment | $39,840 |
|---|---|
| Loan amount | $159,360 |
| Principal and interest | $1,072 |
| Property taxes (1.44% a year) | $239 |
| Homeowners insurance (our estimate, 0.5% a year) | $83 |
| PMI | $0 |
| Total per month | $1,394 |
Change the numbers in the calculator
| Down payment | $6,972 |
|---|---|
| Loan amount | $195,592 |
| Principal and interest | $1,316 |
| Property taxes (1.44% a year) | $239 |
| Homeowners insurance (our estimate, 0.5% a year) | $83 |
| FHA mortgage insurance | $88 |
| Total per month | $1,726 |
Change the numbers in the calculator
Questions about home buying in Elmo
What is the median home value in Elmo?
About $199,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Elmo?
Homeowners pay a median $2,865 a year, which is about 1.44% 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 Elmo?
For the median home with 20% down at 7.11%, the payment is about $1,394 a month. Keeping that under 28% of gross income takes about $59,745 a year.
More about Elmo
- Mortgage Refinance in Elmo
- Debt Relief in Elmo
- Home Equity Loans in Elmo
- 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