Texas Mortgage Calculator 2026 — Payment With Property Tax | US Financial Calculators

Median Texas home ($300,000) — 20% down — 7% rate — 30yr

Component	Monthly	Annual
Principal & Interest	$1,596.73	$19,161
Property Tax (1.60%)	$400.00	$4,800
Homeowners Insurance	$150.00	$1,800
Total PITI	$2,146.73	$25,761

Total interest over 30yr: $334,821. PMI not included.

Monthly property tax on a $400,000 home by state

State	Avg Rate	Monthly/$400k
Alabama	0.41%	$136.67
Alaska	1.04%	$346.67
Arizona	0.62%	$206.67
Arkansas	0.62%	$206.67
California	0.76%	$253.33
Colorado	0.51%	$170.00
Connecticut	1.79%	$596.67
Delaware	0.57%	$190.00
Florida	0.89%	$296.67
Georgia	0.92%	$306.67
Hawaii	0.29%	$96.67
Idaho	0.69%	$230.00
Illinois	2.23%	$743.33
Indiana	0.85%	$283.33
Iowa	1.57%	$523.33
Kansas	1.41%	$470.00
Kentucky	0.86%	$286.67
Louisiana	0.55%	$183.33
Maine	1.09%	$363.33
Maryland	1.09%	$363.33
Massachusetts	1.14%	$380.00
Michigan	1.54%	$513.33
Minnesota	1.12%	$373.33
Mississippi	0.81%	$270.00
Missouri	1.01%	$336.67
Montana	0.84%	$280.00
Nebraska	1.73%	$576.67
Nevada	0.55%	$183.33
New Hampshire	1.93%	$643.33
New Jersey	2.23%	$743.33
New Mexico	0.80%	$266.67
New York	1.72%	$573.33
North Carolina	0.80%	$266.67
North Dakota	0.98%	$326.67
Ohio	1.53%	$510.00
Oklahoma	0.88%	$293.33
Oregon	0.87%	$290.00
Pennsylvania	1.49%	$496.67
Rhode Island	1.53%	$510.00
South Carolina	0.57%	$190.00
South Dakota	1.22%	$406.67
Tennessee	0.67%	$223.33
Texas ★	1.60%	$533.33
Utah	0.52%	$173.33
Vermont	1.83%	$610.00
Virginia	0.87%	$290.00
Washington	0.98%	$326.67
Washington DC	0.55%	$183.33
West Virginia	0.59%	$196.67
Wisconsin	1.76%	$586.67
Wyoming	0.61%	$203.33

Texas has some of the highest property tax rates in the US, averaging 1.60% of assessed value. This significantly increases monthly housing costs compared to lower-tax states. Texas is also a community property state. On the plus side, Texas has no state income tax, which frees up more income for mortgage payments. Texas homestead exemptions can reduce the taxable value of a primary residence by $100,000 for school district taxes.

Median home price: $300,000. Average property tax: 1.60%. Cost of living index: 93 (US avg = 100).

What is the average property tax rate in Texas?

The average effective property tax rate in Texas is 1.60%. This means on a $300,000 home, you would pay approximately $4,800/year ($400.00/month) in property taxes. Note that actual property taxes are based on the county-assessed value, which may differ from the purchase price, and individual rates vary by county.

How much do I need to earn to afford a home in Texas?

At the Texas median home price of $300,000 with 20% down and a 7% rate, total monthly housing costs (PITI) are approximately $2,146.73. Using the 28% housing-to-income rule, you would need a gross monthly income of about $7,666.88, or $92,003/year. With less down payment or higher home price, the required income increases.

Is Texas a community property state?

Yes — Texas is a community property state. This means that for married couples, both spouses' income and debts are generally considered jointly owned. For mortgage purposes, lenders may consider both spouses' income and credit scores even if only one is on the loan application.

Should I get a 15-year or 30-year mortgage?

A 30-year mortgage has lower monthly payments but you pay significantly more interest over time. For example, on a $240,000 loan at 7%, monthly P&I is $1,596.73 (30yr) vs. $2,157.19 (15yr). Choose 30-year if cash flow is tight; choose 15-year if you can comfortably afford the higher payment.

What other costs should I budget for when buying in Texas?

Beyond the mortgage payment, budget for: (1) Closing costs — typically 2–5% of the loan amount at purchase; (2) Home inspection — $300–$600; (3) Property taxes — $4,800/year at Texas average rates on a $300,000 home; (4) Homeowners insurance — $1,200–$2,400/year; (5) HOA fees if applicable; (6) Maintenance reserve — budget 1–2% of home value annually.

Texas Mortgage Calculator (2026)

Your Mortgage Details

Texas Monthly Payment