Texas Mortgage Calculator
Estimate your monthly payment on a Texas home — pre-filled with the state's median price of about $340,000.
20.0% of the home price
Monthly Payment (P&I)
$1,719.23
Principal and interest only. Property taxes, homeowners insurance, PMI, and HOA dues are not included.
Buying in Texas: the numbers
The median home in Texas costs around $340,000. With a 20% down payment ($68,000) and a 30-year loan at 6.5%, principal and interest run about $1,719.23 per month. Add roughly $476 a month for property taxes at the state's effective rate, and the realistic payment lands near $2,195 — before homeowners insurance. Adjust the calculator above to your own price, down payment, and rate.
Property taxes in Texas
Texas's effective property tax rate of about 1.68% compares with a national average near 1.10%. Texas has no state income tax, which is partly why its property tax rates rank among the highest in the country. Homestead exemptions can meaningfully reduce the taxable value of a primary residence. For an exact monthly figure on any home value, use the Property Tax Calculator, and confirm what you can responsibly spend with the Affordability Calculator.
Mortgage calculators by state
Texas mortgage FAQs
What is the average property tax rate in Texas?
Texas's effective property tax rate is approximately 1.68%, compared with a national average of roughly 1.1%. On a median-priced TX home of about $340,000, that works out to roughly $5,712 per year.
What does a typical mortgage payment look like in Texas?
On a median-priced $340,000 home with 20% down and a 30-year loan at 6.5%, principal and interest come to about $1,719.23 per month, plus roughly $476 in monthly property taxes — before insurance and any HOA dues.
Does this calculator include Texas property taxes?
The calculator shows principal and interest. To add taxes, apply Texas's effective rate of about 1.68% to your target home value — our Property Tax Calculator does this for you and breaks it into a monthly amount.
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