CALCMONEY // HOME AFFORDABILITY // TX // EL PASO
How much house can you afford in El Paso? Based on local median home prices, current TX mortgage rates, and El Paso property tax data.
$220,000
$1,709/mo
$73,249/yr
$108,184
Monthly housing costs of $1,709 represent 42.7% of El Paso's median gross monthly income ($4,000/mo). At 42.7%, median-income buyers in El Paso are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $220,000 |
| Down Payment (20%) | $44,000 |
| Loan Amount | $176,000 |
| Monthly PI Payment | $1,159 |
| Monthly Property Tax | $458 |
| Monthly Insurance Est. | $92 |
| Total Monthly PITI | $1,709 |
| Housing Cost % of Income | 42.7% |
| Required Income (28% rule) | $73,249/yr |
| Max Affordable Home | $108,184 |
$7,700
$2,099/mo
El Paso Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $220,000 | El Paso city median |
| Down Payment (20%) | $44,000 | Conventional loan |
| Monthly PITI | $1,709 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $73,249 | Annual gross |
| Max Affordable Home | $108,184 | Based on median income |
| FHA Down (3.5%) | $7,700 | Minimum FHA |
| Housing Cost % of Income | 42.7% | Median income: $48,000/yr |
| Property Tax Rate | 2.5% | $5,500/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in El Paso is $220,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $176,000, generating a monthly P&I payment of $1,159. Adding property taxes ($458/mo) and homeowners insurance ($92/mo) brings total monthly PITI to $1,709.
El Paso's property tax rate of 2.5% is notably high, meaningfully reducing how much home buyers can afford — lenders factor this directly into debt-to-income calculations. On the El Paso median home, that is $458/month, or $5,500 per year.
Texas has no state income tax, improving effective take-home pay for El Paso residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning El Paso's median income of $48,000/year can afford up to $1,120/month in total housing costs. Based on El Paso's mortgage rate of 6.9% and property tax rate of 2.5%, that translates to a maximum affordable home price of approximately $108,184 with 20% down on a 30-year loan.
To afford the median El Paso home priced at $220,000, you need an annual gross income of approximately $73,249. Total monthly housing costs (principal and interest of $1,159, property taxes of $458, and insurance of $92) come to $1,709/month, which equals 28% of the required income.
At the median home price of $220,000 and median household income of $48,000, the total monthly housing cost of $1,709 represents 42.7% of gross monthly income. This is well above the standard 28% threshold, making El Paso a challenging market for buyers at median income.
A conventional 20% down payment on the median El Paso home of $220,000 is $44,000. An FHA loan requires just 3.5% down — $7,700 — but adds mortgage insurance of roughly $150/month, bringing total FHA payments to $2,099/month.