The typical owner-occupied home in Grandfalls is worth about $44,100, 84% below the Texas median of $283,800 and 87% below the national median of $332,700. Owners pay a median $348 a year in property taxes, about 0.79% of their home's value, lower than the Texas rate of 1.49%. The median household earns $33,125 a year, so the median home costs 1.3 times the median income (3.6 times for Texas). 90% of occupied homes here are lived in by their owners, and 17% of those owners still have a mortgage.
Grandfalls at a glance
| Grandfalls | Texas | U.S. | |
|---|---|---|---|
| Median home value | $44,100 | $283,800 | $332,700 |
| Median property tax paid per year | $348 | $4,232 | $3,119 |
| Property tax as a share of value | 0.79% | 1.49% | 0.94% |
| Median household income | $33,125 | $78,476 | $80,734 |
| Homes lived in by their owners | 90% | 63% | 65% |
| Owner homes with a mortgage | 17% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,083 | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 11.5% | 21.7% | 21.0% |
| Median rent | $422 | $1,403 | $1,413 |
| Rent as a share of renters' income | 51.0% | 30.9% | 30.6% |
| Median year homes were built | 1964 | 1992 | 1980 |
| Vacant homes | 16.5% | 9.4% | 10.1% |
| Population | 375 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Grandfalls
At this week's average 30-year rate of 7.11%, buying the median Grandfalls home of $44,100 with 20% down costs about $285 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $358, 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 $12,203 for the 20%-down payment. That payment is 10% of the median Grandfalls household income of $33,125; at that income and 20% down, the 28% guideline points to a home of about $120,000.
The median rent here is $422 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $8,820 |
|---|---|
| Loan amount | $35,280 |
| Principal and interest | $237 |
| Property taxes (0.79% a year) | $29 |
| Homeowners insurance (our estimate, 0.5% a year) | $18 |
| PMI | $0 |
| Total per month | $285 |
Change the numbers in the calculator
| Down payment | $1,544 |
|---|---|
| Loan amount | $43,301 |
| Principal and interest | $291 |
| Property taxes (0.79% a year) | $29 |
| Homeowners insurance (our estimate, 0.5% a year) | $18 |
| FHA mortgage insurance | $20 |
| Total per month | $358 |
Change the numbers in the calculator
Questions about home buying in Grandfalls
What is the median home value in Grandfalls?
About $44,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Grandfalls?
Homeowners pay a median $348 a year, which is about 0.79% 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 Grandfalls?
For the median home with 20% down at 7.11%, the payment is about $285 a month. Keeping that under 28% of gross income takes about $12,203 a year.
More about Grandfalls
- Mortgage Refinance in Grandfalls
- Debt Relief in Grandfalls
- Home Equity Loans in Grandfalls
- 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