Side-by-side comparison of home prices, mortgage payments, and housing costs between Austin and El Paso, Texas. Using Texas's 1.8% property tax rate and $3,800/year insurance. Updated for 2026.
El Paso is significantly more affordable than Austin, with homes priced 53% lower on average. That translates to $1,891/month in savings on your total housing payment. For budget-conscious buyers in Texas, El Paso offers a much more accessible path to homeownership.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI. Uses Texas's 1.8% property tax rate.
Buying in El Paso saves you approximately $1,891/month ($22,692/year) compared to Austin, based on median home prices with identical loan terms.
El Paso is the better choice for first-time buyers, with a median price of $225K versus $475K in Austin. That's $250K less to save for a down payment. You'd need roughly $8K for an FHA 3.5% down payment in El Paso, compared to $17K in Austin. Texas offers the TDHCA My First Texas Home program (Up to 5% DPA grant) which applies in both cities.
El Paso has the better price-to-rent ratio at 17.9x versus 22.6x in Austin. A lower ratio generally signals better rental income relative to purchase price. Average rent in El Paso is $1,050/month on a $225K median home, making it a stronger candidate for buy-and-rent investors.
Austin (pop. 978,908) offers more amenities, schools, and services typical of a larger city, while El Paso (pop. 678,815) may offer a quieter, more community-oriented lifestyle. Families on a budget may prefer El Paso, where lower housing costs free up more income for childcare, education, and savings.