Mortgage payment estimates, closing cost breakdowns, and homebuying data for Austin, Texas.
Median Home Price
$475K
Population
979K
Avg Monthly Rent
$1,750
Property Tax Rate
1.8% *
* Property tax shown is the Texas state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Austin.
Austin vs Texas Median
The median home price in Austin is $475,000, which is 53% above the Texas state median of $310,000.
Mortgage Calculator — Austin, TX
Pre-filled with Austin median home price and Texas tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $475K home using Texas's 1.8% tax rate and $3,800/yr insurance.
5% Down
$4,145/mo
Down: $23,750
Loan: $451K
P&I: $2,852
Tax: $713
Insurance: $317
PMI: $263
10% Down
$3,981/mo
Down: $47,500
Loan: $428K
P&I: $2,702
Tax: $713
Insurance: $317
PMI: $249
20% Down (No PMI)
$3,431/mo
Down: $95,000
Loan: $380K
P&I: $2,402
Tax: $713
Insurance: $317
Income needed (28% rule): $147K/year with 20% down, $171K/year with 10% down.
Rent vs Buy in Austin
Rent
$1,750/mo
vs
Buy (10% down)
$3,981/mo
Price-to-rent ratio: 22.6 — At a ratio above 20, renting may be more economical in Austin for shorter stays. Buying costs $2,231 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Austin is $475,000, 53% above the Texas state median of $310,000. With a population of 978,908, Austin is a major metro area where home prices reflect strong demand and local economic factors.
Property taxes in Texas average 1.8% annually. This higher-than-average tax rate means a $475,000 home in Austin would carry roughly $713/month in property taxes alone — plan accordingly. Homeowners insurance in Texas runs approximately $3,800 per year. Insurance costs are notably high — factor this into your monthly budget.
Average rent in Austin is $1,750/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Austin is a higher-cost market. At $475K median, buyers need significant savings or strong income. Down payment assistance through Texas's TDHCA My First Texas Home program becomes especially important.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Austin.