CALCMONEY // MORTGAGE // TX // AUSTIN
Calculate your monthly mortgage payment using Austin-specific property tax rates and local market data.
$490,000
6.9%
1.97%
115
| Principal & Interest | $2,582 |
| Property Tax | $804 |
| Homeowners Insurance (est.) | $163 |
| Total Monthly Payment (PITI) | $3,549 |
$98,000
$537,417
$152,120/yr
The median home price in Austin is $490,000, above the national median of $420,000. With a median household income of $82,000, the price-to-income ratio is 6.0x — meaning buyers typically spend 6.0 years of gross income on the purchase price.
Property taxes in Austin run 1.97% of assessed value. On the median home, that is $9,653 per year, or $804 per month added to your mortgage payment. This is significantly above the national average of 1.1%, making property taxes a major factor in your total housing cost.
Texas has no state income tax, which means more of your gross salary becomes take-home pay. This effectively increases your purchasing power compared to income-tax states.
The cost of living index in Austin is 115 (national average = 100). Expect to pay more for groceries, transportation, and services in addition to housing.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $392,000 loan saves $17,640 in interest over 30 years.
Compare Top Austin Mortgage LendersHouston
$310,000 median
TXSan Antonio
$280,000 median
TXDallas
$355,000 median
TXFort Worth
$310,000 median
Neighborhood-level data for 5 ZIP codes in Austin. Rates, home prices, and estimated payments vary by area.