Total monthly cost of ownership
Cost to Own a Home in Houston, Texas
A $253,000 home here costs
$2,355per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $101,000 a year.
A standard mortgage calculator would have told you $1,401. The real number is $953 higher every month, 68% more than the payment most buyers budget for.
Compare Harris 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.
Houston against Harris County and Texas
| Measure | Houston | Harris County |
|---|---|---|
| Median home value | $253,400 | $255,000 |
| Median property tax | $4,003 | $4,382 |
| Effective tax rate | 1.580% | 1.718% |
| Median gross rent | $1,313 | $1,349 |
| Population | 2,300,419 | 4,758,579 |
Houston extends across 4 counties. Figures here use Harris County, where most of its housing sits.
The weather behind that power bill
Houston sits in Harris County, which averages a high of 94.9°F in its hottest month and a low of 43.7°F in its coldest, with 51.84" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 3,288 cooling and 1,266 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Harris County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Harris County
Talk to someone who works this market
These are Houston 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 Houston every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Houston I already own here and may sell
Common questions
How much does it cost to own a home in Houston?
A $253,000 home in Houston, Texas costs approximately $2,355 per month with 20% down at 7.4%. That is $1,401 principal and interest, $333 property tax, $167 homeowners insurance, $242 utilities and $211 set aside for maintenance.
What is the property tax rate in Houston?
Houston has an effective property tax rate of 1.580%, based on a median home value of $253,400 and median real estate taxes of $4,003. That is lower than the Harris County average of 1.718%.
What is the average home price in Houston?
The median owner-occupied home value in Houston, Texas is $253,400, against $255,000 across Harris County.
Is it cheaper to rent or buy in Houston?
Median gross rent in Houston is $1,313 a month, against $2,355 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 Houston?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Houston, Texas at today's rate takes a household income of roughly $101,000 a year. That covers the full $2,355 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Houston, 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.