CALCMONEY // HOME AFFORDABILITY // TX // AMARILLO
How much house can you afford in Amarillo? Based on local median home prices, current TX mortgage rates, and Amarillo property tax data.
$210,000
$1,488/mo
$63,769/yr
$171,165
Monthly housing costs of $1,488 represent 32.5% of Amarillo's median gross monthly income ($4,583/mo). At 32.5%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $210,000 |
| Down Payment (20%) | $42,000 |
| Loan Amount | $168,000 |
| Monthly PI Payment | $1,106 |
| Monthly Property Tax | $294 |
| Monthly Insurance Est. | $88 |
| Total Monthly PITI | $1,488 |
| Housing Cost % of Income | 32.5% |
| Required Income (28% rule) | $63,769/yr |
| Max Affordable Home | $171,165 |
$7,350
$1,860/mo
Amarillo Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $210,000 | Amarillo city median |
| Down Payment (20%) | $42,000 | Conventional loan |
| Monthly PITI | $1,488 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $63,769 | Annual gross |
| Max Affordable Home | $171,165 | Based on median income |
| FHA Down (3.5%) | $7,350 | Minimum FHA |
| Housing Cost % of Income | 32.5% | Median income: $55,000/yr |
| Property Tax Rate | 1.68% | $3,528/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Amarillo is $210,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $168,000, generating a monthly P&I payment of $1,106. Adding property taxes ($294/mo) and homeowners insurance ($88/mo) brings total monthly PITI to $1,488.
Amarillo's property tax rate of 1.68% is near the national average, adding a standard increment to monthly housing costs. On the Amarillo median home, that is $294/month, or $3,528 per year.
Texas has no state income tax, improving effective take-home pay for Amarillo residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Amarillo's median income of $55,000/year can afford up to $1,283/month in total housing costs. Based on Amarillo's mortgage rate of 6.9% and property tax rate of 1.68%, that translates to a maximum affordable home price of approximately $171,165 with 20% down on a 30-year loan.
To afford the median Amarillo home priced at $210,000, you need an annual gross income of approximately $63,769. Total monthly housing costs (principal and interest of $1,106, property taxes of $294, and insurance of $88) come to $1,488/month, which equals 28% of the required income.
At the median home price of $210,000 and median household income of $55,000, the total monthly housing cost of $1,488 represents 32.5% of gross monthly income. This slightly exceeds the standard 28% rule. Buyers will need above-median income or a larger down payment to stay within guidelines.
A conventional 20% down payment on the median Amarillo home of $210,000 is $42,000. An FHA loan requires just 3.5% down — $7,350 — but adds mortgage insurance of roughly $144/month, bringing total FHA payments to $1,860/month.