In Carthage, a typical home is worth $164,200 and typical rent is $797 a month. Compared with all of Panola County, typical household income is 21% lower and the share of households that own their home is 16 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $186,579 to $198,988.
From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).
Carthage is in Panola County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Panola County. See the county
What this place has that others do not, from public data, most unusual first.
1
Carthage has the 15th lowest typical rent of the 413 cities in Texas with more than 5,000 people ($797).
2
According to Zillow, in the 12 months to September 2026 the typical home value in Carthage rose 4.3%; in Texas, it fell 1.4%.
3
64% of households in Carthage own their home, against 80% in Panola County.
4
The typical household income in Carthage is $51,250,21% less than in Panola County as a whole ($64,894).
Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data
The homes here
Housing in Carthage
What homes there are in Carthage, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Carthage
Panola County
Texas
United States
Kind of home: Carthage and its comparisons
Measure
Carthage
Panola County
Texas
United States
Detached house
69%
68%
64%
61%
Attached house
Unreliable estimate
Unreliable estimate
3%
6%
Building of 2 to 4
Unreliable estimate
Unreliable estimate
5%
8%
Apartments (5 or more)
Unreliable estimate
Unreliable estimate
21%
19%
Mobile home
9%
25%
6%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
The detached house is the most common home in Carthage: 69% of homes, near the figure in Panola County (68%).
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Carthage
Panola County
Texas
United States
Year built: Carthage and its comparisons
Measure
Carthage
Panola County
Texas
United States
Before 1960
17%
15%
12%
26%
1960–1979
41%
29%
21%
24%
1980–1999
18%
26%
28%
25%
2000–2009
15%
15%
18%
14%
2010 or later
Unreliable estimate
15%
21%
11%
Homes in Carthage are older: the typical year built is 1977; in Panola County, 1984.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200K52%
$200K–$300K29%
$300K–$500KUnreliable
$500K–$750KUnreliable
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Carthage and its comparisons
Measure
Carthage
Under $100K
Unreliable estimate
$100K–$200K
52%
$200K–$300K
29%
$300K–$500K
Unreliable estimate
$500K–$750K
Unreliable
$750K–$1M
Unreliable
$1M or more
Unreliable estimate
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$99970%
$1,000–$1,499Unreliable
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Carthage and its comparisons
Measure
Carthage
Under $500
Unreliable estimate
$500–$999
70%
$1,000–$1,499
Unreliable estimate
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
With a mortgage
$1,235 a month
Panola County: $1,398 a month
Without a mortgage
$533 a month
Panola County: $448 a month
Owners with a mortgage
49%
Panola County: 41%
Owning costs less in Carthage: with a mortgage, the typical cost is $1,235 a month; in Panola County, $1,398. Without one, $533.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Carthage+53%
Panola County+55%
Texas+65%
United States+53%
Typical rent
CarthageNo clear change
Panola County+9%
Texas+34%
United States+33%
Typical household income
CarthageNo clear change
Panola County+23%
Texas+27%
United States+29%
Change since 2015–2019: Carthage and its comparisons
Measure
Carthage
Panola County
Texas
United States
Typical home value
+53%
+55%
+65%
+53%
Typical rent
No clear change
+9%
+34%
+33%
Typical household income
No clear change
+23%
+27%
+29%
From 2015–2019 to 2020–2024, home values in Carthage rose at about the same pace as in Panola County: 53% against 55%.
Rent in Carthage moved so little since 2015–2019 that the Census cannot say whether it rose or fell.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Carthage and its comparisons
Measure
Carthage
Panola County
Texas
United States
Rental vacancy
Unreliable estimate
Unreliable estimate
7.7%
5.5%
Homeowner vacancy
Unreliable estimate
Unreliable estimate
1.1%
0.9%
More than one person per room
Unreliable estimate
2.4%
4.8%
3.4%
People per household
2.43
2.50
2.69
2.53
Drive alone
76%
82%
71%
69%
Carpool
15%
9%
10%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
Unreliable estimate
Unreliable estimate
2%
3%
Work from home
Unreliable estimate
7%
14%
15%
Other means
Unreliable estimate
Unreliable estimate
2%
2%
Typical commute
Unreliable estimate
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
A household in Carthage has 2.43 people on average, about the same as in Panola County (2.50).
In Carthage, 15% of workers share a car to get to work; in Panola County, 9%.
Do the math
What would you pay each month for a home in Carthage?
A typical home is tight for the typical income
We start with a typical home in Carthage, worth $164,200, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 32% of the typical household income in Carthage, which is $51,250 a year. For that payment to be 28% of income, a household would need to earn about $58,952 a year.
The calculator's FHA and conventional loan limits are those of all of Panola County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Carthage. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $5,747 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$1,376
at 7.18% · 30 years
Loan amount
$161,226
Total interest
$231,966
Paid off in
November 2056
Includes $2,773 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,196 a month
Tight
$1,196 to $1,537 a month
Your payment · 32%
Hard
more than $1,537 a month
Compared with the typical household income in Carthage ($51,250 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,092
Property tax
$142
Home insurance
$68
FHA mortgage insurance (MIP)
$73
You need at least $5,747 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $1,376; principal and interest $1,092.
The city and its county
Carthage and Panola County
Carthage is in Panola County, Texas. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Carthage
Map of Panola County, Texas, with Carthage marked. Around it, the neighboring counties.
Carthage
Panola County
Carthage's own numbers
Typical home value
$164,200
Typical monthly rent
$797
Typical yearly household income
$51,250
Households that own their home
64%
Effective property tax rate
1.04%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Panola County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,060
Price change over 5 years (FHFA)
+55%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Panola County.
A typical home in Carthage is worth $164,200: 4% above the county and 42% below Texas. With the typical household income in Carthage ($51,250 a year), a typical home costs 3.2 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Carthage3.2 years
Panola2.4 years
Texas3.6 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Panola County
According to FHFA’s house price index, home prices in Panola County rose 81% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Panola County.
Yearly change in FHFA’s price index in Panola County, 2016 to 2025
2016: +3.5% +3.5% 2016
2017: +0.7% +0.7% 2017
2018: +5.1% +5.1% 2018
2019: +0.6% +0.6% 2019
2020: +5.6% +5.6% 2020
2021: +7.6% +7.6% 2021
2022: +19.8% +19.8% 2022
2023: +8.6% +8.6% 2023
2024: +8.0% +8.0% 2024
2025: +2.6% +2.6% 2025
Change in FHFA’s price index in Panola County, Texas and the United States
Period
County
Texas
U.S.
Last year (2025)
+2.6%
+0.8%
+2.9%
5 years (2020–2025)
+55%
+44%
+47%
10 years (2015–2025)
+81%
+88%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Carthage next to Panola County, Texas and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Carthage$164,200
Panola$158,100
Texas$283,800
United States$332,700
Typical monthly rent
Carthage$797
Panola$834
Texas$1,403
United States$1,413
Typical yearly household income
Carthage$51,250
Panola$64,894
Texas$78,476
United States$80,734
See the full table
Carthage next to Panola County and Texas
Measure
Carthage
Panola County
Texas
U.S.
Typical home value
$164,200 ▲4% above the county
$158,100
$283,800
$332,700
Typical monthly rent
$797 ▼4% below the county
$834
$1,403
$1,413
Typical yearly household income
$51,250 ▼21% below the county
$64,894
$78,476
$80,734
Households that own their home
64% ▼16 points below the county
80%
63%
65%
Typical yearly property tax
$1,709 ▲38% above the county
$1,242
$4,232
$3,119
Effective property tax rate
1.04% ▲0.25 points above the county
0.79%
1.49%
0.94%
Renters with high rent for their income
42% ▲1 points above the county
40%
52%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Panola County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Carthage
For a typical $164,200 home in Carthage, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Carthage's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$1,376a month
Least cash to close
Down payment
$5,747
Cash to close
$10,673
Rate
7.18%
Mortgage insurance
FHA MIP · $73
Conventional, 5% down$1,345a month
Down payment
$8,210
Cash to close
$13,136
Rate
7.18%
Mortgage insurance
PMI · $78
Conventional, 20% down, no PMI$1,101a month
Down payment
$32,840
Cash to close
$37,766
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$1,252a month
Down payment
$24,630
Cash to close
$29,556
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Carthage
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$1,376
$5,747
$161,226
7.18%
FHA MIP · $73
$10,673
580
Conventional, 5% down
$1,345
$8,210
$155,990
7.18%
PMI · $78
$13,136
620*
Conventional, 20% down, no PMI
$1,101
$32,840
$131,360
7.18%
None
$37,766
620*
ITIN, 15% down (example)
$1,252
$24,630
$139,570
8.18%
None
$29,556
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Carthage is $797 a month: 4% below the county. In Carthage, 42% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Panola County, by unit size. To pay the 2-bedroom one ($1,060 a month) without spending more than 30% of your income, you would need to earn $20.38 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Panola County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$806
$15.50
$32,240
1 bedroom
$810
$15.58
$32,400
2 bedrooms
$1,060
$20.38
$42,400
3 bedrooms
$1,281
$24.63
$51,240
4 bedrooms
$1,527
$29.37
$61,080
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Carthage
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Carthage is in ZIP code 75633.
For 2 bedrooms it is $1,060: the same as the fair market rent for Panola County.
Fair market rent by ZIP code and size in Carthage, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
75633
$810
$810
$1,060
$1,310
$1,480
ZIP code2 bd3 bd
75633 $1,060$1,310
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Carthage when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
We found no HUD-approved agencies with an office in Panola County. The nearest ones are below; many serve by phone or online.
No down payment, repair or rent-help program on our list is for Carthage or Panola County. The ones below are statewide in Texas: they work in Carthage the same as in the rest of the state.
Texas state program for first-time buyers: a 30-year mortgage with down payment assistance.Offered by Texas Department of Housing and Community Affairs (TDHCA).
Texas state program with down payment assistance for any buyer, not only first-time buyers.Offered by Texas Department of Housing and Community Affairs (TDHCA).
Texas state certificate that turns part of your mortgage interest into a credit on your federal tax return.Offered by Texas Department of Housing and Community Affairs (TDHCA).
No legal help resource on our list is for Carthage or Panola County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Carthage and all of Panola County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Carthage?
The typical home value in Carthage is $164,200, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Panola County it is $158,100.
How much does it cost to rent in Carthage?
Typical rent in Carthage is $797 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Panola County is $1,060.
What is the FHA loan limit in Carthage?
Carthage uses the FHA limit for all of Panola County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Carthage?
The typical homeowner in Carthage pays $1,709 a year, according to the U.S. Census Bureau. That is 1.04% of the home’s value; in Panola County, the rate is 0.79%.
Where can I find free help to buy or rent in Carthage?
We found no HUD-approved counseling agencies with an office in Panola County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
