Texas Mortgage Calculator
Estimate your monthly mortgage payment in Texas with local property taxes built in. The typical Texas home costs around $300,000, and the state's effective property-tax rate of 1.68% is above the U.S. average.
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Half your payment every 2 weeks = one extra payment a year.
Add an extra payment
Set an "extra payment / mo" above to see the impact here.
Enter an extra monthly amount to see how much interest you'd save.
Amortization schedule
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Property taxes in Texas
Texas's effective property-tax rate is about 1.68% of a home's value each year — higher than the U.S. average of 1.1%. On the state's median home price of $300,000, that works out to roughly $5,040/year ($420/month) added to your payment.
For the full formula and a worked example, see the main Mortgage Calculator.
Buying a home in Texas
At a median price of $300,000, homes in Texas are about 29% more affordable than the U.S. median of $420,000. On a typical purchase with 20% down on a 30-year loan around 6.5%, the principal and interest comes to roughly $1,517/month. Adding Texas's property tax of about $420/month brings the housing cost to around $1,937/month before homeowners insurance, any HOA dues and — if you put down less than 20% — PMI. Because Texas's effective property-tax rate (1.68%) is above the national average, taxes here weigh more heavily on your monthly budget than in most states. Use the calculator above to swap in your own price, down payment and rate, and the local tax figure will adjust the total for you.