Mortgage payment estimates, closing cost breakdowns, and homebuying data for El Paso, Texas.
Pre-filled with El Paso median home price and Texas tax/insurance rates. Adjust for your property.
Estimated closing costs based on Texas rates and fees applied to El Paso prices.
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.