Total monthly cost of ownership
Cost to Own a Home in Katy, Texas
A $377,000 home here costs
$3,441per 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 $147,500 a year.
A standard mortgage calculator would have told you $2,055. The real number is $1,385 higher every month, 67% 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.
Katy against Harris County and Texas
| Measure | Katy | Harris County |
|---|---|---|
| Median home value | $376,800 | $255,000 |
| Median property tax | $6,947 | $4,382 |
| Effective tax rate | 1.844% | 1.718% |
| Median gross rent | $1,609 | $1,349 |
| Population | 23,900 | 4,758,579 |
Katy extends across 3 counties. Figures here use Harris County, where most of its housing sits.
The weather behind that power bill
Katy 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 Katy 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 Katy every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Katy?
A $377,000 home in Katy, Texas costs approximately $3,441 per month with 20% down at 7.24%. That is $2,055 principal and interest, $579 property tax, $249 homeowners insurance, $242 utilities and $314 set aside for maintenance.
What is the property tax rate in Katy?
Katy has an effective property tax rate of 1.844%, based on a median home value of $376,800 and median real estate taxes of $6,947. That is higher than the Harris County average of 1.718%.
What is the average home price in Katy?
The median owner-occupied home value in Katy, Texas is $376,800, against $255,000 across Harris County.
Is it cheaper to rent or buy in Katy?
Median gross rent in Katy is $1,609 a month, against $3,441 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 Katy?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Katy, Texas at today's rate takes a household income of roughly $147,500 a year. That covers the full $3,441 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Katy, 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.