CALCMONEY // HOME AFFORDABILITY // TX // PLANO
How much house can you afford in Plano? Based on local median home prices, current TX mortgage rates, and Plano property tax data.
$510,000
$3,771/mo
$161,607/yr
$228,309
Monthly housing costs of $3,771 represent 46.2% of Plano's median gross monthly income ($8,167/mo). At 46.2%, median-income buyers in Plano are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $510,000 |
| Down Payment (20%) | $102,000 |
| Loan Amount | $408,000 |
| Monthly PI Payment | $2,687 |
| Monthly Property Tax | $871 |
| Monthly Insurance Est. | $213 |
| Total Monthly PITI | $3,771 |
| Housing Cost % of Income | 46.2% |
| Required Income (28% rule) | $161,607/yr |
| Max Affordable Home | $228,309 |
$17,850
$4,674/mo
Plano Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $510,000 | Plano city median |
| Down Payment (20%) | $102,000 | Conventional loan |
| Monthly PITI | $3,771 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $161,607 | Annual gross |
| Max Affordable Home | $228,309 | Based on median income |
| FHA Down (3.5%) | $17,850 | Minimum FHA |
| Housing Cost % of Income | 46.2% | Median income: $98,000/yr |
| Property Tax Rate | 2.05% | $10,455/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Plano is $510,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $408,000, generating a monthly P&I payment of $2,687. Adding property taxes ($871/mo) and homeowners insurance ($213/mo) brings total monthly PITI to $3,771.
Plano's property tax rate of 2.05% is notably high, meaningfully reducing how much home buyers can afford — lenders factor this directly into debt-to-income calculations. On the Plano median home, that is $871/month, or $10,455 per year.
Texas has no state income tax, improving effective take-home pay for Plano residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Plano's median income of $98,000/year can afford up to $2,287/month in total housing costs. Based on Plano's mortgage rate of 6.9% and property tax rate of 2.05%, that translates to a maximum affordable home price of approximately $228,309 with 20% down on a 30-year loan.
To afford the median Plano home priced at $510,000, you need an annual gross income of approximately $161,607. Total monthly housing costs (principal and interest of $2,687, property taxes of $871, and insurance of $213) come to $3,771/month, which equals 28% of the required income.
At the median home price of $510,000 and median household income of $98,000, the total monthly housing cost of $3,771 represents 46.2% of gross monthly income. This is well above the standard 28% threshold, making Plano a challenging market for buyers at median income.
A conventional 20% down payment on the median Plano home of $510,000 is $102,000. An FHA loan requires just 3.5% down — $17,850 — but adds mortgage insurance of roughly $349/month, bringing total FHA payments to $4,674/month.