Mortgage on a $300K house in Texas
$2,095 a month with 20% down — $1,614 principal and interest plus $330 property tax and $150 insurance.
Texas's typical property tax is 1.32% of the home's value a year (U.S. average 0.9%), which adds $330 a month on a $300K home. The typical home in Texas is worth $296,424, so $300K is right at the typical price.
$300K home in Texas: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $60,000 | $240,000 | $1,614 | $0 | $480 | $2,095 | $89,800 |
| 10% down | $30,000 | $270,000 | $1,816 | $113 | $480 | $2,409 | $103,300 |
| 5% down | $15,000 | $285,000 | $1,917 | $119 | $480 | $2,516 | $107,800 |
| 3.5% down (FHA) | $10,500 | $294,566 | $1,982 | $133 | $480 | $2,595 | $111,200 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.32% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Texas does $300K buy a typical home?
In these counties the typical home value is within 15% of $300K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Aransas County | $296,412 | 1.02% | $2,019 |
| Leon County | $304,189 | 0.69% | $1,937 |
| Dallas County | $304,821 | 1.58% | $2,160 |
| Guadalupe County | $293,039 | 1.43% | $2,121 |
| Kaufman County | $292,707 | 1.68% | $2,183 |
| Colorado County | $291,555 | 1.05% | $2,027 |
| Rains County | $290,163 | 1.02% | $2,019 |
| Lavaca County | $289,905 | 0.89% | $1,988 |
| Brazos County | $310,538 | 1.54% | $2,150 |
| Lampasas County | $311,545 | 1.17% | $2,057 |
| Franklin County | $311,993 | 0.89% | $1,988 |
| Palo Pinto County | $283,776 | 1.11% | $2,043 |
197 of 243 Texas counties tracked by Zillow have a typical home value at or below $300K. See all Texas home prices.
Other prices in Texas
Frequently asked questions
What is the mortgage on a $300K house in Texas?
About $2,095 a month with 20% down at 7.11%: $1,614 principal and interest, $330 property tax and $150 insurance.
How much do I need to make to buy a $300K house in Texas?
About $89,800 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $300K house in Texas?
At Texas's typical effective rate of 1.32%, about $3,966 a year. Rates vary by county and city — see the county pages.