Texas Mortgage & Property Tax Guide 2025
Texas has an average property tax rate of 1.47% and no state income tax. The median home price is approximately $320,000.
Is Texas a Good State to Buy a Home?
Texas offers a booming economy, no income tax, and relatively affordable housing outside Austin. Strong job growth in tech, energy, and finance makes it the #1 destination for domestic migration.
Property Tax in Texas
On a $320,000 home in Texas, you would pay approximately $4,704/year (392/month) in property taxes at the 1.47% average rate. Rates vary by county.
What is the average mortgage payment in Texas?
For a $320,000 home with 20% down at 7.2% over 30 years, expect to pay approximately $2,313/month including property tax and insurance in Texas.
How much income do I need to buy a house in Texas?
To comfortably afford a $320,000 home in Texas (28% DTI rule), you typically need a household income of at least $99,000/year.
Does Texas have a first-time home buyer program?
Yes. Texas offers state-level down payment assistance and mortgage credit certificate programs for eligible first-time buyers. Contact your local housing finance agency for current income and purchase price limits.