CALCMONEY // HOME AFFORDABILITY // TX // GARLAND
How much house can you afford in Garland? Based on local median home prices, current TX mortgage rates, and Garland property tax data.
$310,000
$2,331/mo
$99,893/yr
$142,189
Monthly housing costs of $2,331 represent 45.1% of Garland's median gross monthly income ($5,167/mo). At 45.1%, median-income buyers in Garland are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $310,000 |
| Down Payment (20%) | $62,000 |
| Loan Amount | $248,000 |
| Monthly PI Payment | $1,633 |
| Monthly Property Tax | $568 |
| Monthly Insurance Est. | $129 |
| Total Monthly PITI | $2,331 |
| Housing Cost % of Income | 45.1% |
| Required Income (28% rule) | $99,893/yr |
| Max Affordable Home | $142,189 |
$10,850
$2,880/mo
Garland Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $310,000 | Garland city median |
| Down Payment (20%) | $62,000 | Conventional loan |
| Monthly PITI | $2,331 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $99,893 | Annual gross |
| Max Affordable Home | $142,189 | Based on median income |
| FHA Down (3.5%) | $10,850 | Minimum FHA |
| Housing Cost % of Income | 45.1% | Median income: $62,000/yr |
| Property Tax Rate | 2.2% | $6,820/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Garland is $310,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $248,000, generating a monthly P&I payment of $1,633. Adding property taxes ($568/mo) and homeowners insurance ($129/mo) brings total monthly PITI to $2,331.
Garland's property tax rate of 2.2% is notably high, meaningfully reducing how much home buyers can afford — lenders factor this directly into debt-to-income calculations. On the Garland median home, that is $568/month, or $6,820 per year.
Texas has no state income tax, improving effective take-home pay for Garland residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Garland's median income of $62,000/year can afford up to $1,447/month in total housing costs. Based on Garland's mortgage rate of 6.9% and property tax rate of 2.2%, that translates to a maximum affordable home price of approximately $142,189 with 20% down on a 30-year loan.
To afford the median Garland home priced at $310,000, you need an annual gross income of approximately $99,893. Total monthly housing costs (principal and interest of $1,633, property taxes of $568, and insurance of $129) come to $2,331/month, which equals 28% of the required income.
At the median home price of $310,000 and median household income of $62,000, the total monthly housing cost of $2,331 represents 45.1% of gross monthly income. This is well above the standard 28% threshold, making Garland a challenging market for buyers at median income.
A conventional 20% down payment on the median Garland home of $310,000 is $62,000. An FHA loan requires just 3.5% down — $10,850 — but adds mortgage insurance of roughly $212/month, bringing total FHA payments to $2,880/month.