Total monthly cost of ownership
Cost to Own a Home in Austin, Texas
A $513,000 home here costs
$4,271per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,637. The real number is $1,633 higher every month — 62% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Austin against Travis County and Texas
| Measure | Austin | Travis County |
|---|---|---|
| Median home value | $512,700 | $487,600 |
| Median property tax | $7,801 | $7,487 |
| Effective tax rate | 1.522% | 1.535% |
| Median gross rent | $1,655 | $1,669 |
| Population | 967,862 | 1,307,625 |
Austin extends across 4 counties. Figures here use Travis County, where most of its housing sits.
The weather behind that power bill
Austin sits in Travis County, which averages a high of 97.0°F in its hottest month and a low of 37.7°F in its coldest, with 35.57" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,996 cooling and 1,718 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Travis County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Travis County
Common questions
How much does it cost to own a home in Austin?
A $513,000 home in Austin, Texas costs approximately $4,271 per month with 20% down at 6.66%. That is $2,637 principal and interest, $651 property tax, $339 homeowners insurance, $216 utilities and $428 set aside for maintenance.
What is the property tax rate in Austin?
Austin has an effective property tax rate of 1.522%, based on a median home value of $512,700 and median real estate taxes of $7,801. That is lower than the Travis County average of 1.535%.
What is the average home price in Austin?
The median owner-occupied home value in Austin, Texas is $512,700, against $487,600 across Travis County.
Is it cheaper to rent or buy in Austin?
Median gross rent in Austin is $1,655 a month, against $4,271 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Austin — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Texas.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.