Quick answer
The median owner-occupied home in Austin is worth $571,000. With 10% down at the 7.24% national average rate, it costs about $4,673 a month with property tax, insurance at the Texas average and PMI. Austin has the lowest effective tax rate of the 3 Texas cities we cover (1.31%) but the largest median bill ($7,468), because its homes are worth more. The City’s Down Payment Assistance Program offers up to $40,000 for homes up to $440,000.
Key facts
$571,000
Median home value, Austin
US Census Bureau, American Community Survey 2024 1-year · 2024 ACS 1-year
$7,468/yr
Median property tax paid
US Census Bureau, American Community Survey 2024 1-year · 2024 ACS 1-year
1.31%
Effective property tax rate
US Census Bureau, American Community Survey 2024 1-year · 2024 ACS 1-year
$40,000
City of Austin DPA, up to
City of Austin Housing Department: Homebuyer Resources · Oct 29, 2026
$440,000
City DPA maximum sales price
City of Austin Housing Department: Homebuyer Resources · Oct 29, 2026
Austin homes, incomes and owners
The median Austin home was built in 2000, the newest housing stock among the 20 large cities we cover, and it is worth 6.3 times the median household income — against 3.9 for Texas. Most Austin households rent: 41.2% of occupied homes are owner-occupied, compared with 62.3% statewide.
| Austin | Texas | United States | |
|---|---|---|---|
| Median home value | $571,000 | $313,200 | $360,600 |
| Median household income | $90,430 | $79,721 | $81,604 |
| Home value ÷ income | 6.3× | 3.9× | 4.4× |
| Effective property tax rate | 1.31% | 1.31% | 0.89% |
| Median gross rent | $1,770/mo | $1,475/mo | $1,487/mo |
| Median owner costs with a mortgage | $2,801/mo | $2,211/mo | $2,035/mo |
| Median year built | 2000 | 1994 | 1981 |
Newer homes usually mean fewer big repairs in the first years, but newer subdivisions often come with HOA dues and, in some areas, extra special-district taxes. Ask for both before you make an offer.
Austin’s tax bill against Houston and Dallas
The effective rate alone doesn’t tell you what you will pay. Among the Texas cities we cover, Austin has the lowest effective rate but the largest median bill:
| City | Median home value | Effective tax rate | Median tax paid |
|---|---|---|---|
| Dallas | $340,400 | 1.45% | $4,943 |
| Houston | $301,200 | 1.43% | $4,308 |
| Austin | $571,000 | 1.31% | $7,468 |
Bills come from Travis County (and Williamson or Hays County for parts of the city), the City, a school district and other local units, applied to the appraisal district’s value. The school homestead exemption of $140,000 covers about 25% of the median Austin value for the school portion — a smaller share than in the other Texas cities we cover, because the exemption is a fixed dollar amount and Austin homes are worth more. File with the appraisal district once you move in; the Texas guide explains the over-65 addition.
The monthly payment on a median Austin home
$571,000 home, 10% down, 30-year fixed at 7.24%
| Part of the payment | Monthly |
|---|---|
| Principal and interest on $513,900 | $3,502 |
| Property tax at 1.31% | $623 |
| Homeowners insurance at the Texas average of $3,489/yr | $291 |
| PMI (midpoint of Freddie Mac’s range) | $257 |
| Total | $4,673 |
The payment calculator opens with Austin’s median value, tax ratio and the Texas insurance average; add HOA dues if the home has them.
City of Austin Down Payment Assistance
The City of Austin Housing Department offers up to $40,000 through participating lenders. To qualify:
- Household income at or below 80% of median family income — $106,800 for a household of four.
- A first-time buyer who hasn’t owned a home in the past 3 years (displaced homemakers and some divorced applicants can also qualify).
- A sales price no higher than $440,000.
- Homebuyer education classes before you buy.
The median Austin home is $131,000 above that cap, so DPA buyers shop below the median. At the cap, the maximum assistance equals about 9.1% of the price. The median household income is below the four-person limit, so many families qualify on income even when the median home is out of range. The City’s page does not list current funding status or repayment terms, so confirm both with a participating lender. Statewide TDHCA and TSAHC programs offer 2%–5% of the loan; compare them in the first-time buyer programs guide.
Closing in Austin
Texas bars real estate transfer taxes, so Austin buyers pay no transfer tax at closing. The state sets title insurance premiums: the basic owner’s policy on the median home works out to about $3,107, the same at any title company. All-in closing costs at the CFPB’s 2%–5% range would be $11,420–$28,550. Walk through the line items in closing costs. Creek-side neighborhoods can sit in FEMA flood zones, and standard policies don’t cover flooding, so check the address on FEMA’s Flood Map Service Center before you sign.
Austin affordability at the median income
On a median household income of $90,430, Freddie Mac’s 30% guideline gives $2,261 a month for housing. With 10% down at today’s rate, Austin’s tax ratio and the Texas insurance average, that supports about $276,000 — $295,000 below the median value. Carrying the median home within the guideline takes about $187,000 a year. The affordability calculator shows your own range.
Compare with Dallas and Houston, or test buying against renting at the median $1,770/mo in the rent vs buy calculator.
Frequently asked questions
What is the property tax rate in Austin?
Census data put the effective rate at about 1.31% of home value, with a median bill of $7,468 a year. Your bill depends on the county, school district and special districts, minus exemptions such as the $140,000 school homestead exemption.
Are property taxes higher in Austin than in Dallas or Houston?
Austin has the lowest effective rate of the 3 Texas cities we cover but the largest median bill, because its homes are worth more. Census puts the Austin median bill at $7,468.
Does Austin have down payment assistance?
Yes. The City of Austin’s Down Payment Assistance Program offers up to $40,000 to first-time buyers at or below 80% of median family income, for homes priced up to $440,000, through participating lenders.
What is the median home price in Austin?
The 2024 American Community Survey puts the median value of owner-occupied homes in Austin at $571,000, compared with $313,200 for Texas.
How much income do you need to buy a house in Austin?
To keep the $4,673 monthly cost of the median home with 10% down under 30% of gross income, you would need about $187,000 a year with no other large debts.
Is there a transfer tax in Austin?
No. The Texas Constitution prohibits real estate transfer taxes; buyers pay recording fees and state-set title insurance premiums instead.
Sources
- Freddie Mac Primary Mortgage Market Survey — 30-year fixed rate, national weekly average (Week of Oct 29, 2026)
- US Census Bureau, American Community Survey 2024 1-year — Median value of owner-occupied homes (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Median household income (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Effective property tax rate (median taxes ÷ median home value); Median real estate taxes paid by homeowners (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Median gross rent (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Share of occupied homes lived in by their owners (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Median value of owner-occupied homes (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Median household income (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Median value of owner-occupied homes (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Median household income (2024 ACS 1-year)
- Texas Department of Insurance — Average Texas homeowners insurance premium (2025 (preliminary))
- Freddie Mac My Home — Typical PMI cost, low end; Typical PMI cost, high end (Oct 28, 2026)
- Freddie Mac My Home — Freddie Mac guidance: housing costs below this share of gross income (Jan 22, 2026)
- Texas Comptroller — School district residence homestead exemption (Dec 11, 2025)
- City of Austin Housing Department: Homebuyer Resources — City of Austin Down Payment Assistance Program, up to; Austin down payment assistance maximum sales price; Austin down payment assistance income limit, four-person household (Oct 29, 2026)
- Texas Department of Insurance — Texas basic title premium for a $100,000 policy; Texas basic title premium per $1,000 above $100,000 (Rates effective Mar 1, 2026)
- CFPB — Typical closing costs, low end (share of purchase price); Typical closing costs, high end (share of purchase price) (Oct 28, 2026)
- US Census Bureau, American Community Survey 2024 1-year — Median year homes were built (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Share of occupied homes lived in by their owners (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Effective property tax rate (median taxes ÷ median home value) (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Effective property tax rate (median taxes ÷ median home value) (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Median gross rent (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Median gross rent (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Median monthly owner costs, homes with a mortgage (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Median monthly owner costs, homes with a mortgage (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Median monthly owner costs, homes with a mortgage (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Median year homes were built (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Median year homes were built (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Median value of owner-occupied homes (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Effective property tax rate (median taxes ÷ median home value); Median real estate taxes paid by homeowners (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Median value of owner-occupied homes (2024 ACS 1-year)
- US Census Bureau, American Community Survey 2024 1-year — Effective property tax rate (median taxes ÷ median home value); Median real estate taxes paid by homeowners (2024 ACS 1-year)
- 42 U.S.C. 12704(14) — First-time homebuyer: has not owned a home in the past (HUD/HOME statute) (Oct 28, 2026)
- Texas Department of Housing and Community Affairs — TDHCA My First Texas Home assistance, low end (share of loan); TDHCA My First Texas Home assistance, high end (share of loan) (Program matrix Aug 17, 2026)
- FEMA Flood Map Service Center
Last reviewed Figures are checked against the sources above. Read our editorial policy. This page is general information, not financial advice — see the disclaimer.