Quick answer
The median home in Austin costs $548K. With 20% down ($110K) at 7% for 30 years, the monthly payment is $2,917/month. Total interest paid over 30 years: $611,607.
Calculator · TX · 2026
Mortgage Calculator for Austin, TX (2026)
Pre-filled with Austin's median home price of $548K. Compare payments across down payment sizes and loan terms at the current 7.0% baseline rate.
Last updated: April 23, 2026
Austin Mortgage Payment Scenarios
Median home price: $548K · Interest rate: 7% · Excludes property taxes and insurance.
| Down Payment | Down ($) | Loan Amount | 30-yr/mo | 15-yr/mo | Total Interest (30yr) |
|---|---|---|---|---|---|
| 5% | $27,400 | $520,600 | $3,464 | $4,679 | $726,283 |
| 10% | $54,800 | $493,200 | $3,281 | $4,433 | $688,058 |
| 20% | $109,600 | $438,400 | $2,917 | $3,940 | $611,607 |
PMI required for <20% down — add ~$100–300/month to payments above.
Rent vs Buy in Austin
Monthly cost comparison based on median prices — 20% down, 30-year mortgage at 7%.
Buying (median home)
+ builds equity in $548K asset
Renting (2-bedroom)
Flexibility to move; no equity built
Amortization Over Time
$548K home · 20% down ($438K loan) · 7% · 30 years
Year 1
Year 15
Year 30 (Final)
Frequently Asked Questions
What is the monthly mortgage payment for a home in Austin?
The median home price in Austin is $548K. With 20% down and a 30-year loan at 7%, the monthly payment is $2,917. Adding estimated property taxes and insurance brings total monthly costs to approximately $3,465.
Is it cheaper to rent or buy in Austin?
A 2-bedroom rental in Austin averages $2,100/month. Buying the median $548K home with 20% down costs approximately $3,465/month (mortgage + taxes + insurance) — $1,365 more than renting. However, buying builds equity while renting does not.
How much do I need to earn to buy a home in Austin?
Using the 28% housing rule, you need at least $125K–148K in annual gross income to comfortably afford the median $548K home in Austin with 20% down. You also need $110K+ saved for the down payment plus 2–5% in closing costs.
What are property taxes like in Austin?
TX has a state income tax rate of None. Property taxes vary by county but on a $548K home, expect $457–$913/month in property taxes (1–2% annual rate). This is in addition to your mortgage payment.