Mortgage on a $500K house in Texas
$3,492 a month with 20% down — $2,691 principal and interest plus $551 property tax and $250 insurance.
Texas's typical property tax is 1.32% of the home's value a year (U.S. average 0.9%), which adds $551 a month on a $500K home. The typical home in Texas is worth $296,424, so $500K is 69% above the typical price.
$500K home in Texas: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $100,000 | $400,000 | $2,691 | $0 | $801 | $3,492 | $149,600 |
| 10% down | $50,000 | $450,000 | $3,027 | $188 | $801 | $4,015 | $172,100 |
| 5% down | $25,000 | $475,000 | $3,195 | $198 | $801 | $4,194 | $179,700 |
| 3.5% down (FHA) | $17,500 | $490,944 | $3,303 | $221 | $801 | $4,325 | $185,300 |
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 $500K buy a typical home?
In these counties the typical home value is within 15% of $500K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Gillespie County | $504,348 | 0.98% | $3,347 |
| Collin County | $477,505 | 1.58% | $3,600 |
| Travis County | $461,123 | 1.48% | $3,556 |
| Llano County | $446,002 | 0.75% | $3,251 |
| Parker County | $443,613 | 1.4% | $3,523 |
| Fayette County | $437,101 | 0.89% | $3,311 |
| Blanco County | $567,417 | 0.93% | $3,329 |
| Denton County | $432,421 | 1.61% | $3,613 |
| Comal County | $431,172 | 1.13% | $3,412 |
240 of 243 Texas counties tracked by Zillow have a typical home value at or below $500K. See all Texas home prices.
Other prices in Texas
Frequently asked questions
What is the mortgage on a $500K house in Texas?
About $3,492 a month with 20% down at 7.11%: $2,691 principal and interest, $551 property tax and $250 insurance.
How much do I need to make to buy a $500K house in Texas?
About $149,600 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $500K house in Texas?
At Texas's typical effective rate of 1.32%, about $6,610 a year. Rates vary by county and city — see the county pages.