Estimate your monthly payment using Texas's average home price of $310,000 and property tax rate of 1.60%. Updated for 2026.
Estimates include P&I, property tax, and ~0.5% annual insurance. Does not include PMI, HOA, or utilities.
Texas's housing market in 2026 has a median home price of approximately $310,000, placing it below the national median of around $420,000. Texas has no state income tax but funds schools and local government largely through property taxes among the highest rates in the nation. Whether you're buying your first home in Houston or relocating from another state, understanding your true monthly mortgage cost is essential before making an offer.
Property taxes in Texas average 1.60% of assessed value annually — a high property tax rate. On a $310,000 home, that translates to roughly $413 per month added to your mortgage payment. Houston, Dallas, and Austin all fall under Texas's general property tax framework, though local millage rates vary by county and municipality. Always confirm the exact rate for the specific property you're considering.
Texas State Affordable Housing Corporation (TSAHC) Homes for Texas Heroes provides down payment assistance and mortgage tax credits. Beyond state programs, FHA loans remain popular in Texas requiring as little as 3.5% down, while VA loans offer zero-down financing for eligible veterans and active-duty service members. Conventional loans typically require 620+ credit score and a debt-to-income ratio under 45%.
Austin's tech boom drove extraordinary price appreciation though the market has moderated from its 2022 peak. When shopping for a mortgage in Texas, compare offers from at least three lenders. Even a 0.25% difference in interest rate on a $310,000 home can mean thousands of dollars saved over the life of a 30-year loan. Pay close attention to APR — not just the rate — as it includes origination fees and points.
Use the calculator above to model your scenario. A 20% down payment on the average Texas home of $310,000 puts your estimated total monthly cost at approximately $2,159 at today's rates, before HOA fees or special assessments. Adjust the home price, down payment, and rate to match your specific situation and see how the numbers change in real time.
The average home price in Texas is approximately $310,000 as of 2026. Prices vary significantly by city and county — Houston tends to be pricier while more rural areas offer lower prices.
Texas has a high property tax rate at 1.60% of assessed value. On a $310,000 home that adds about $413 per month to your housing cost. Rates vary by county, so verify the exact rate for your target property.
Texas State Affordable Housing Corporation (TSAHC) Homes for Texas Heroes provides down payment assistance and mortgage tax credits. Additionally, FHA loans (3.5% down), VA loans (0% down for eligible veterans), and USDA rural loans may be available depending on location and eligibility.