What a home really costs in Travis County, TX

The local math, in plain English

Travis County’s median home value of $545,700 is about 51% above the U.S. median of $360,600, and its property tax burden (~1.34% of value) is higher than the national typical (~0.89%).

In our example, costs beyond principal and interest make up 35% of the monthly bill: property tax alone is about $609 a month, and PMI adds $246 until you reach about 22% equity.

Existing owners with a mortgage here reported median monthly owner costs of $2,749 (ACS table B25088, which counts mortgage, taxes, insurance, utilities and fees). Many of them bought years ago at lower prices or rates, so a buyer today at the median value should plan on a bigger number: about $5,158 in our example.

For comparison, the median gross rent (rent plus utilities) in Travis County was $1,789 a month. For a 3-bedroom, closer in size to the typical owned home, it was $2,226. In our rent vs buy calculator, using its default assumptions (4.3% appreciation, 3.3% rent growth, 6% investment return, 7.32% rate), buying doesn’t catch up within 30 years; after 30 years renting is ahead by about $985,000. That’s a model output, not a forecast: a lower rate or a lower investment return can change it, so try your own numbers.

Texas has no state income tax, and local governments lean heavily on property taxes, which is why Texas effective rates run well above the national typical. A homestead exemption on your primary residence can lower the bill, so file for it after you move in.