Mortgage payment estimates, closing cost breakdowns, and homebuying data for El Paso, Texas.
Median Home Price
$225K
Population
679K
Avg Monthly Rent
$1,050
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 El Paso.
El Paso vs Texas Median
The median home price in El Paso is $225,000, which is 27% below the Texas state median of $310,000.
Mortgage Calculator — El Paso, TX
Pre-filled with El Paso median home price and Texas tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $225K home using Texas's 1.8% tax rate and $3,800/yr insurance.
5% Down
$2,130/mo
Down: $11,250
Loan: $214K
P&I: $1,351
Tax: $338
Insurance: $317
PMI: $125
10% Down
$2,052/mo
Down: $22,500
Loan: $203K
P&I: $1,280
Tax: $338
Insurance: $317
PMI: $118
20% Down (No PMI)
$1,792/mo
Down: $45,000
Loan: $180K
P&I: $1,138
Tax: $338
Insurance: $317
Income needed (28% rule): $77K/year with 20% down, $88K/year with 10% down.
Rent vs Buy in El Paso
Rent
$1,050/mo
vs
Buy (10% down)
$2,052/mo
Price-to-rent ratio: 17.9 — A ratio between 15-20 means the rent vs buy decision in El Paso depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in El Paso is $225,000, 27% below the Texas state median of $310,000. With a population of 678,815, El Paso is a major metro area where home prices tend to be more accessible than in many parts of Texas.
Property taxes in Texas average 1.8% annually. This higher-than-average tax rate means a $225,000 home in El Paso would carry roughly $338/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 El Paso is $1,050/month. The price-to-rent ratio in El Paso is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
El Paso offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Texas's TDHCA My First Texas Home program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in El Paso.