Total monthly cost of ownership
Cost to Own a Home in Galveston, Texas
A $294,000 home here costs
$2,457per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,511. The real number is $945 higher every month — 63% 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.
Galveston against Galveston County and Texas
| Measure | Galveston | Galveston County |
|---|---|---|
| Median home value | $294,300 | $284,900 |
| Median property tax | $3,485 | $4,238 |
| Effective tax rate | 1.184% | 1.488% |
| Median gross rent | $1,278 | $1,360 |
| Population | 53,348 | 354,721 |
The weather behind that power bill
Galveston sits in Galveston County, which averages a high of 92.0°F in its hottest month and a low of 48.9°F in its coldest, with 47.22" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 3,571 cooling and 889 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Galveston County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Galveston County
Full Galveston County cost breakdown · Every county in Texas
Common questions
How much does it cost to own a home in Galveston?
A $294,000 home in Galveston, Texas costs approximately $2,457 per month with 20% down at 6.66%. That is $1,511 principal and interest, $290 property tax, $195 homeowners insurance, $216 utilities and $245 set aside for maintenance.
What is the property tax rate in Galveston?
Galveston has an effective property tax rate of 1.184%, based on a median home value of $294,300 and median real estate taxes of $3,485. That is lower than the Galveston County average of 1.488%.
What is the average home price in Galveston?
The median owner-occupied home value in Galveston, Texas is $294,300, against $284,900 across Galveston County.
Is it cheaper to rent or buy in Galveston?
Median gross rent in Galveston is $1,278 a month, against $2,457 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 Galveston — 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.