CALCMONEY // MORTGAGE // TX // LUBBOCK
Calculate your monthly mortgage payment using Lubbock-specific property tax rates and local market data.
$215,000
6.9%
1.65%
82
| Principal & Interest | $1,133 |
| Property Tax | $296 |
| Homeowners Insurance (est.) | $72 |
| Total Monthly Payment (PITI) | $1,500 |
$43,000
$235,805
$64,289/yr
$215,000 buys the median home in Lubbock right now. With 20% down, that's a $43,000 down payment and a $172,000 loan, set against a $52,000 median household income.
Lubbock's 1.65% property tax rate runs above the 1.1% national average. That's $296/month on the median home here, not a rounding error against the mortgage payment.
Texas is one of nine states with no state income tax. Against a $1,500/month mortgage payment here, that's real, recurring savings compared to an income-tax state at the same salary.
Beyond housing, Lubbock's cost of living index sits at 82 (national average = 100), running below the national baseline for groceries, transportation, and everyday services.
Lubbock's median home price runs 31% lower than nearby Houston: $310,000 there versus $215,000 here.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $172,000 loan saves $7,740 in interest over 30 years.
Compare Top Lubbock Mortgage Lenders