Total monthly cost of ownership
Cost to Own a Home in Dripping Springs, Texas
A $579,000 home here costs
$4,925per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $211,000 a year.
A standard mortgage calculator would have told you $3,157. The real number is $1,769 higher every month, 56% more than the payment most buyers budget for.
Compare Hays County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Dripping Springs against Hays County and Texas
| Measure | Dripping Springs | Hays County |
|---|---|---|
| Median home value | $579,300 | $371,400 |
| Median property tax | $7,928 | $6,420 |
| Effective tax rate | 1.369% | 1.729% |
| Median gross rent | $1,985 | $1,417 |
| Population | 6,322 | 256,429 |
The weather behind that power bill
Dripping Springs sits in Hays County, which averages a high of 95.4°F in its hottest month and a low of 38.9°F in its coldest, with 35.7" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,709 cooling and 1,811 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Hays County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hays County
Talk to someone who works this market
These are Dripping Springs averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Dripping Springs every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Dripping Springs I already own here and may sell
Common questions
How much does it cost to own a home in Dripping Springs?
A $579,000 home in Dripping Springs, Texas costs approximately $4,925 per month with 20% down at 7.24%. That is $3,157 principal and interest, $661 property tax, $383 homeowners insurance, $242 utilities and $483 set aside for maintenance.
What is the property tax rate in Dripping Springs?
Dripping Springs has an effective property tax rate of 1.369%, based on a median home value of $579,300 and median real estate taxes of $7,928. That is lower than the Hays County average of 1.729%.
What is the average home price in Dripping Springs?
The median owner-occupied home value in Dripping Springs, Texas is $579,300, against $371,400 across Hays County.
Is it cheaper to rent or buy in Dripping Springs?
Median gross rent in Dripping Springs is $1,985 a month, against $4,925 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Dripping Springs?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Dripping Springs, Texas at today's rate takes a household income of roughly $211,000 a year. That covers the full $4,925 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Dripping Springs, 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.