The typical owner-occupied home in Oakwood is worth about $111,500, 61% below the Texas median of $283,800 and 66% below the national median of $332,700. The median household earns $37,396 a year, so the median home costs 3.0 times the median income (3.6 times for Texas). 69% of occupied homes here are lived in by their owners, and 11% of those owners still have a mortgage.
Oakwood at a glance
| Oakwood | Texas | U.S. | |
|---|---|---|---|
| Median home value | $111,500 | $283,800 | $332,700 |
| Median property tax paid per year | – | $4,232 | $3,119 |
| Median household income | $37,396 | $78,476 | $80,734 |
| Homes lived in by their owners | 69% | 63% | 65% |
| Owner homes with a mortgage | 11% | 56% | 61% |
| Median monthly costs, owners with a mortgage | – | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 51.0% | 21.7% | 21.0% |
| Median rent | $680 | $1,403 | $1,413 |
| Rent as a share of renters' income | 30.4% | 30.9% | 30.6% |
| Median year homes were built | 1957 | 1992 | 1980 |
| Vacant homes | 8.0% | 9.4% | 10.1% |
| Population | 570 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Oakwood
At this week's average 30-year rate of 7.11%, buying the median Oakwood home of $111,500 with 20% down costs about $749 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $934, 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 $32,088 for the 20%-down payment. That payment is 24% of the median Oakwood household income of $37,396; at that income and 20% down, the 28% guideline points to a home of about $130,000.
The median rent here is $680 a month, so owning the median home costs about $69 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $22,300 |
|---|---|
| Loan amount | $89,200 |
| Principal and interest | $600 |
| Property taxes (1.10% a year) | $102 |
| Homeowners insurance (our estimate, 0.5% a year) | $46 |
| PMI | $0 |
| Total per month | $749 |
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| Down payment | $3,902 |
|---|---|
| Loan amount | $109,480 |
| Principal and interest | $736 |
| Property taxes (1.10% a year) | $102 |
| Homeowners insurance (our estimate, 0.5% a year) | $46 |
| FHA mortgage insurance | $49 |
| Total per month | $934 |
Change the numbers in the calculator
Questions about home buying in Oakwood
What is the median home value in Oakwood?
About $111,500 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 Oakwood?
For the median home with 20% down at 7.11%, the payment is about $749 a month. Keeping that under 28% of gross income takes about $32,088 a year.
More about Oakwood
- Mortgage Refinance in Oakwood
- Debt Relief in Oakwood
- Home Equity Loans in Oakwood
- 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