Quick answer
The median home in Houston costs $305K. With 20% down ($61K) at 7% for 30 years, the monthly payment is $1,623/month. Total interest paid over 30 years: $340,402.
Calculator · TX · 2026
Mortgage Calculator for Houston, TX (2026)
Pre-filled with Houston's median home price of $305K. Compare payments across down payment sizes and loan terms at the current 7.0% baseline rate.
Last updated: April 23, 2026
Houston Mortgage Payment Scenarios
Median home price: $305K · Interest rate: 7% · Excludes property taxes and insurance.
| Down Payment | Down ($) | Loan Amount | 30-yr/mo | 15-yr/mo | Total Interest (30yr) |
|---|---|---|---|---|---|
| 5% | $15,250 | $289,750 | $1,928 | $2,604 | $404,227 |
| 10% | $30,500 | $274,500 | $1,826 | $2,467 | $382,952 |
| 20% | $61,000 | $244,000 | $1,623 | $2,193 | $340,402 |
PMI required for <20% down — add ~$100–300/month to payments above.
Rent vs Buy in Houston
Monthly cost comparison based on median prices — 20% down, 30-year mortgage at 7%.
Buying (median home)
+ builds equity in $305K asset
Renting (2-bedroom)
Flexibility to move; no equity built
Amortization Over Time
$305K home · 20% down ($244K loan) · 7% · 30 years
Year 1
Year 15
Year 30 (Final)
Frequently Asked Questions
What is the monthly mortgage payment for a home in Houston?
The median home price in Houston is $305K. With 20% down and a 30-year loan at 7%, the monthly payment is $1,623. Adding estimated property taxes and insurance brings total monthly costs to approximately $1,928.
Is it cheaper to rent or buy in Houston?
A 2-bedroom rental in Houston averages $1,620/month. Buying the median $305K home with 20% down costs approximately $1,928/month (mortgage + taxes + insurance) — $308 more than renting. However, buying builds equity while renting does not.
How much do I need to earn to buy a home in Houston?
Using the 28% housing rule, you need at least $70K–83K in annual gross income to comfortably afford the median $305K home in Houston with 20% down. You also need $61K+ saved for the down payment plus 2–5% in closing costs.
What are property taxes like in Houston?
TX has a state income tax rate of None. Property taxes vary by county but on a $305K home, expect $254–$508/month in property taxes (1–2% annual rate). This is in addition to your mortgage payment.