El Paso, TX variant. This is a El Paso, TX-specific version of the Home Affordability Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Home Affordability Calculator.
Affording a home in El Paso pits the $53,291 median income against a $215,000 median price - a price-to-income ratio of 4.0x.
Can you afford El Paso?
The 28% rule caps housing at $1,243/month on the local median income, supporting roughly $245,910 in price - versus the $215,000 El Paso median.
El Paso is relatively attainable on the local median income.
About El Paso, TX
El Paso residents pay no state or city income tax, as Texas does not levy a personal income tax.
El Paso is one of the most affordable large-city housing markets in the country, with low home prices and rents.
El Paso's economy is shaped by its position as a major border and trade city, along with a substantial military presence.
Worked example: max price on $53,291
28% of $53,291 ÷ 12 ≈ $1,243/month supports about $245,910 at 6.5% with 20% down - compared with the $215,000 median.
Quick reference
- Median home value: $215,000
- Median rent: $1,100/mo
- Median household income: $53,291
- Local sales tax: 8.25%
- Effective property tax rate: 2.21%
- Cost of living index: 84 (US avg = 100)
Frequently Asked Questions
What income do I need to buy in El Paso?
To afford the $215,000 median home, you'd typically need well above the $53,291 local median income at current rates.
What is the price-to-income ratio in El Paso?
About 4.0x (median home ÷ median income).