Quick answer
The median home in Dallas costs $380K. With 20% down ($76K) at 7% for 30 years, the monthly payment is $2,023/month. Total interest paid over 30 years: $424,107.
Calculator · TX · 2026
Mortgage Calculator for Dallas, TX (2026)
Pre-filled with Dallas's median home price of $380K. Compare payments across down payment sizes and loan terms at the current 7.0% baseline rate.
Last updated: April 23, 2026
Dallas Mortgage Payment Scenarios
Median home price: $380K · Interest rate: 7% · Excludes property taxes and insurance.
| Down Payment | Down ($) | Loan Amount | 30-yr/mo | 15-yr/mo | Total Interest (30yr) |
|---|---|---|---|---|---|
| 5% | $19,000 | $361,000 | $2,402 | $3,245 | $503,627 |
| 10% | $38,000 | $342,000 | $2,275 | $3,074 | $477,120 |
| 20% | $76,000 | $304,000 | $2,023 | $2,732 | $424,107 |
PMI required for <20% down — add ~$100–300/month to payments above.
Rent vs Buy in Dallas
Monthly cost comparison based on median prices — 20% down, 30-year mortgage at 7%.
Buying (median home)
+ builds equity in $380K asset
Renting (2-bedroom)
Flexibility to move; no equity built
Amortization Over Time
$380K home · 20% down ($304K loan) · 7% · 30 years
Year 1
Year 15
Year 30 (Final)
Frequently Asked Questions
What is the monthly mortgage payment for a home in Dallas?
The median home price in Dallas is $380K. With 20% down and a 30-year loan at 7%, the monthly payment is $2,023. Adding estimated property taxes and insurance brings total monthly costs to approximately $2,403.
Is it cheaper to rent or buy in Dallas?
A 2-bedroom rental in Dallas averages $1,850/month. Buying the median $380K home with 20% down costs approximately $2,403/month (mortgage + taxes + insurance) — $553 more than renting. However, buying builds equity while renting does not.
How much do I need to earn to buy a home in Dallas?
Using the 28% housing rule, you need at least $87K–103K in annual gross income to comfortably afford the median $380K home in Dallas with 20% down. You also need $76K+ saved for the down payment plus 2–5% in closing costs.
What are property taxes like in Dallas?
TX has a state income tax rate of None. Property taxes vary by county but on a $380K home, expect $317–$633/month in property taxes (1–2% annual rate). This is in addition to your mortgage payment.