Mortgage payment estimates, closing cost breakdowns, and homebuying data for Midland, Texas.
Pre-filled with Midland median home price and Texas tax/insurance rates. Adjust for your property.
Estimated closing costs based on Texas rates and fees applied to Midland prices.
The median home price in Midland is $295,000, roughly in line with the Texas state median of $310,000. With a population of 132,524, Midland 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 $295,000 home in Midland would carry roughly $443/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 Midland is $1,280/month. The price-to-rent ratio in Midland is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Midland presents moderate affordability. The $295K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.