Mortgage payment estimates, closing cost breakdowns, and homebuying data for Tyler, Texas.
Median Home Price
$245K
Population
107K
Avg Monthly Rent
$1,120
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 Tyler.
Tyler vs Texas Median
The median home price in Tyler is $245,000, which is 21% below the Texas state median of $310,000.
Mortgage Calculator — Tyler, TX
Pre-filled with Tyler median home price and Texas tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $245K home using Texas's 1.8% tax rate and $3,800/yr insurance.
5% Down
$2,291/mo
Down: $12,250
Loan: $233K
P&I: $1,471
Tax: $368
Insurance: $317
PMI: $136
10% Down
$2,207/mo
Down: $24,500
Loan: $221K
P&I: $1,394
Tax: $368
Insurance: $317
PMI: $129
20% Down (No PMI)
$1,923/mo
Down: $49,000
Loan: $196K
P&I: $1,239
Tax: $368
Insurance: $317
Income needed (28% rule): $82K/year with 20% down, $95K/year with 10% down.
Rent vs Buy in Tyler
Rent
$1,120/mo
vs
Buy (10% down)
$2,207/mo
Price-to-rent ratio: 18.2 — A ratio between 15-20 means the rent vs buy decision in Tyler 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 Tyler is $245,000, 21% below the Texas state median of $310,000. With a population of 107,405, Tyler is a mid-size city 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 $245,000 home in Tyler would carry roughly $368/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 Tyler is $1,120/month. The price-to-rent ratio in Tyler is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Tyler 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 Tyler.