Housing · State Guide
Home affordability in Texas
The income you need to afford a home in Texas, based on current prices and real lending standards.
Texas housing snapshot
| Metric | Value |
|---|
| Approximate median home price | $315,000 |
| Typical 20% down payment | $63,000 |
| Loan amount (after 20% down) | $252,000 |
| Property tax rate (approx.) | 1.8%/year |
| Est. total monthly payment | ~$2,265/mo |
| Income needed (28% rule) | ~$97,071/year |
Texas has no state income tax but relatively high property taxes (1.5-2.5% of assessed value annually, among the highest in the US). Austin saw extreme appreciation 2020-2023 and has since corrected; Dallas, Houston, and San Antonio remain more affordable. Property taxes significantly affect monthly payment calculations — use 1.8-2.2% for realistic estimates.
Calculate your affordability in Texas
Pre-filled with typical Texas values — adjust to your specific situation.