Is It Worth Buying a Home in Houston, TX?
The decision to rent or buy in Houston, Texas depends on how long you plan to stay, your down payment, and current mortgage rates. With a median home price of $295,000 and median monthly rent of $1,750, the math plays out differently depending on your personal situation.
Houston has an average property tax rate of 1.96% annually, which adds approximately $482/month to the cost of homeownership on a median-priced home.
Historically, home values in Houston have appreciated at roughly 3.2% per year, which works in favor of buyers who plan to stay long-term. Use the calculator above to find your personal break-even point.
Key Factors for Houston Buyers
- Down payment of 20% on a median home = $59,000
- Monthly mortgage (30yr at 6.99%) ≈ $1,569/mo
- Property tax ≈ $482/mo
- Estimated maintenance ≈ $246/mo