Housing · State Guide
Rent vs buy in Texas
How the rent vs buy math works specifically in Texas — with real numbers and the key variables that matter most here.
Texas at a glance
| Metric | Value |
|---|
| Approx. median home price (rough estimate) | $310,000 |
| Approx. median monthly rent (rough estimate) | $1,800 |
| Price-to-rent ratio | 14x annual rent |
| PTR signal | ✓ Buying-favorable |
Texas has no state income tax but relatively high property taxes (1.6-2.5% of assessed value, among the highest in the US). This meaningfully affects the buy-side calculation. Texas metros like Austin saw extreme appreciation 2020-2023 followed by price corrections — current price-to-rent ratios are more favorable to buying than coastal markets.
Key tip for Texas: Texas's high property taxes offset some of the no-income-tax advantage for homebuyers. Run the calculator with a 1.8-2.2% property tax rate for a realistic Texas estimate.
Run the numbers for Texas
Pre-set with typical values — adjust to your specific situation.