Austin, TX variant. This is a Austin, TX-specific version of the Mortgage 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 Mortgage Calculator.
Austin's $540,000 median home and 1.95% property tax make for a distinctive mortgage payment. High-cost metros front-load the principal-and-interest portion.
Mortgage payment in Austin
On the $540,000 median home with 20% down ($108,000), you'd finance $432,000. At 6.5% over 30 years, P&I ≈ $2,731/month.
Add Austin's 1.95% property tax (≈ $878/month) plus insurance for the all-in payment.
About Austin, TX
Austin residents pay no state or city income tax, as Texas does not levy a personal income tax.
Austin's housing market has grown sharply in recent years, with home prices and rents rising amid rapid population growth.
Austin's economy is anchored by a fast-growing technology sector and its role as the Texas state capital and a major university town.
Worked example: $540,000 Austin home
Loan $432,000 at 6.5% for 30 years → $2,731/mo P&I. Property tax ≈ $878/mo. Total before insurance ≈ $3,608/mo.
Quick reference
- Median home value: $540,000
- Median rent: $2,100/mo
- Median household income: $89,415
- Local sales tax: 8.25%
- Effective property tax rate: 1.95%
- Cost of living index: 119 (US avg = 100)
Frequently Asked Questions
How much is a mortgage in Austin?
About $2,731/month P&I on the $540,000 median home with 20% down at 6.5%.
What is the property tax rate in Austin?
About 1.95% of home value per year.