CALCMONEY // MORTGAGE // TX // EL PASO
Calculate your monthly mortgage payment using El Paso-specific property tax rates and local market data.
$220,000
6.9%
2.5%
82
| Principal & Interest | $1,159 |
| Property Tax | $458 |
| Homeowners Insurance (est.) | $73 |
| Total Monthly Payment (PITI) | $1,691 |
$44,000
$241,289
$72,463/yr
The median home price in El Paso is $220,000, below the national median of $420,000. With a median household income of $48,000, the price-to-income ratio is 4.6x — meaning buyers typically spend 4.6 years of gross income on the purchase price.
Property taxes in El Paso run 2.5% of assessed value. On the median home, that is $5,500 per year, or $458 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 El Paso is 82 (national average = 100). Beyond housing, your everyday expenses will also run below the national average.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $176,000 loan saves $7,920 in interest over 30 years.
Compare Top El Paso Mortgage Lenders