Total monthly cost of ownership
Cost to Own a Home in Elgin, Texas
A $268,000 home here costs
$2,447per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,378. The real number is $1,069 higher every month — 78% 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.
Elgin against Travis County and Texas
| Measure | Elgin | Travis County |
|---|---|---|
| Median home value | $267,900 | $487,600 |
| Median property tax | $5,432 | $7,487 |
| Effective tax rate | 2.028% | 1.535% |
| Median gross rent | $1,289 | $1,669 |
| Population | 10,996 | 1,307,625 |
Elgin extends across 2 counties. Figures here use Travis County, where most of its housing sits.
The weather behind that power bill
Elgin 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 Elgin?
A $268,000 home in Elgin, Texas costs approximately $2,447 per month with 20% down at 6.66%. That is $1,378 principal and interest, $453 property tax, $177 homeowners insurance, $216 utilities and $223 set aside for maintenance.
What is the property tax rate in Elgin?
Elgin has an effective property tax rate of 2.028%, based on a median home value of $267,900 and median real estate taxes of $5,432. That is higher than the Travis County average of 1.535%.
What is the average home price in Elgin?
The median owner-occupied home value in Elgin, Texas is $267,900, against $487,600 across Travis County.
Is it cheaper to rent or buy in Elgin?
Median gross rent in Elgin is $1,289 a month, against $2,447 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 Elgin — 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.