CALCMONEY // HOME AFFORDABILITY // TX
Find out how much home you can afford in Texas using local median home prices, current mortgage rates, and TX-specific property tax data.
Open Full Calculator$301,806
$2,045/mo
$266,128
$87,663/yr
| Median Home Price | $301,806 |
| Down Payment (20%) | $60,361 |
| Loan Amount | $241,445 |
| Monthly PI Payment | $1,568 |
| Monthly Property Tax | $352 |
| Monthly Insurance Est. | $126 |
| Total Monthly PITI | $2,045 |
| Required Gross Income (28% rule) | $87,663/yr |
| Max Affordable Price (28% rule) | $266,128 |
$10,563
$2,575/mo
Texas Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $301,806 | State median |
| Down Payment (20%) | $60,361 | Conventional |
| Monthly PITI (median home) | $2,045 | 6.76% rate |
| Required Income (28% rule) | $87,663 | Annual gross |
| Max Affordable Home | $266,128 | Based on median income |
| FHA Down Payment (3.5%) | $10,563 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Texas is $301,806, with a current 30-year fixed mortgage rate of 6.76%. A buyer putting 20% down on the median home would carry a loan of $241,445, resulting in a monthly principal and interest payment of $1,568. Once property taxes and insurance are added, total monthly housing costs reach $2,045.
Property taxes in Texas average 1.4%, near the national average of 1.1%. On the median Texas home, property taxes add $352/month to total housing costs.
Texas has no state income tax, which increases effective take-home pay relative to higher-tax states and can improve overall buying power for TX residents.
Using the 28% rule, a household earning Texas's median income of $79,721/year can afford up to $1,860/month in total housing costs (principal, interest, taxes, and insurance). Based on Texas's current mortgage rate of 6.76% and property tax rate of 1.4%, that translates to a maximum affordable home price of approximately $266,128 with 20% down on a 30-year loan.
To comfortably afford the median Texas home priced at $301,806, you need an annual gross income of approximately $87,663. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $1,568, property taxes of $352, and insurance of $126) come to $2,045/month, which should not exceed 28% of your gross monthly income.
Texas's average property tax rate is 1.4%, which is above the national average of 1.1%. On the median Texas home of $301,806, that means annual property taxes of $4,225, or $352/month. Because lenders include property taxes in your debt-to-income calculation, Texas's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median Texas home of $301,806, that is $10,563. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($60,361 on the median Texas home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no Texas-specific minimum down payment requirements beyond federal guidelines.