The typical home in Midland, TX is worth about $330,000.
With 20% down that's a loan near $264,000 — the calculator
is pre-filled with that figure. Midland sits at the center of the Permian Basin oil boom, and both home prices and incomes swing with crude prices more than almost any other U.S. housing market. A drilling downturn can cool the market quickly, while a boom can push prices up faster than construction can keep pace.
$1,714.05 / month
Total interest
$353,063
Total paid
$617,063
Payoff
30.0 years
How much you need to earn
Midland, TX's median household income is about
$85,000 a year. Under standard 28/36
lending rules that supports a home price around
$254,547 with 20% down —
below the $330,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.
Typical asking rent in Midland, TX is about $1,500 a month, so owning the median home costs roughly
$973 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Midland, TX?
On the metro's roughly $330,000 typical home with 20% down, the loan is about $264,000. Principal and interest run near $1,714 a month at today's rate, and Midland, TX's property tax plus insurance add about $759, for a full payment near $2,473.
Can I afford a home in Midland, TX on the median income?
The median household income is about $85,000 a year. Under standard 28/36 lending rules that supports a home price around $254,547 with 20% down — below the $330,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Midland, TX?
Typical asking rent is about $1,500 a month. The full owner payment on a median home is near $2,473, so owning costs roughly $973 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Midland, TX?
The effective property tax rate in the core county is about 1.70% of market value — roughly $5,610 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Midland, TX rising or falling?
Home values are up about 2% over the past year. Midland sits at the center of the Permian Basin oil boom, and both home prices and incomes swing with crude prices more than almost any other U.S. housing market. A drilling downturn can cool the market quickly, while a boom can push prices up faster than construction can keep pace.