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