CALCMONEY // HOME AFFORDABILITY // TX // DALLAS
How much house can you afford in Dallas? Based on local median home prices, current TX mortgage rates, and Dallas property tax data.
$355,000
$2,699/mo
$115,661/yr
$143,929
Monthly housing costs of $2,699 represent 47.6% of Dallas's median gross monthly income ($5,667/mo). At 47.6%, median-income buyers in Dallas are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $355,000 |
| Down Payment (20%) | $71,000 |
| Loan Amount | $284,000 |
| Monthly PI Payment | $1,870 |
| Monthly Property Tax | $680 |
| Monthly Insurance Est. | $148 |
| Total Monthly PITI | $2,699 |
| Housing Cost % of Income | 47.6% |
| Required Income (28% rule) | $115,661/yr |
| Max Affordable Home | $143,929 |
$12,425
$3,327/mo
Dallas Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $355,000 | Dallas city median |
| Down Payment (20%) | $71,000 | Conventional loan |
| Monthly PITI | $2,699 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $115,661 | Annual gross |
| Max Affordable Home | $143,929 | Based on median income |
| FHA Down (3.5%) | $12,425 | Minimum FHA |
| Housing Cost % of Income | 47.6% | Median income: $68,000/yr |
| Property Tax Rate | 2.3% | $8,165/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Dallas is $355,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $284,000, generating a monthly P&I payment of $1,870. Adding property taxes ($680/mo) and homeowners insurance ($148/mo) brings total monthly PITI to $2,699.
Dallas's property tax rate of 2.3% is notably high, meaningfully reducing how much home buyers can afford — lenders factor this directly into debt-to-income calculations. On the Dallas median home, that is $680/month, or $8,165 per year.
Texas has no state income tax, improving effective take-home pay for Dallas residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Dallas's median income of $68,000/year can afford up to $1,587/month in total housing costs. Based on Dallas's mortgage rate of 6.9% and property tax rate of 2.3%, that translates to a maximum affordable home price of approximately $143,929 with 20% down on a 30-year loan.
To afford the median Dallas home priced at $355,000, you need an annual gross income of approximately $115,661. Total monthly housing costs (principal and interest of $1,870, property taxes of $680, and insurance of $148) come to $2,699/month, which equals 28% of the required income.
At the median home price of $355,000 and median household income of $68,000, the total monthly housing cost of $2,699 represents 47.6% of gross monthly income. This is well above the standard 28% threshold, making Dallas a challenging market for buyers at median income.
A conventional 20% down payment on the median Dallas home of $355,000 is $71,000. An FHA loan requires just 3.5% down — $12,425 — but adds mortgage insurance of roughly $243/month, bringing total FHA payments to $3,327/month.
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