El Paso, TX variant. This is a El Paso, 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.
El Paso's $215,000 median home and 2.21% property tax make for a distinctive mortgage payment. High-cost metros front-load the principal-and-interest portion.
Mortgage payment in El Paso
On the $215,000 median home with 20% down ($43,000), you'd finance $172,000. At 6.5% over 30 years, P&I ≈ $1,087/month.
Add El Paso's 2.21% property tax (≈ $396/month) plus insurance for the all-in payment.
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: $215,000 El Paso home
Loan $172,000 at 6.5% for 30 years → $1,087/mo P&I. Property tax ≈ $396/mo. Total before insurance ≈ $1,483/mo.
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
How much is a mortgage in El Paso?
About $1,087/month P&I on the $215,000 median home with 20% down at 6.5%.
What is the property tax rate in El Paso?
About 2.21% of home value per year.