The drastic difference in Homeowner cost across Texas…
Texas residents with a mortgage can expect to pay an average of $18,156 per year in homeowner cost. This includes the mortgage note, insurance, maintenance, taxes, etc. However, the cost of owning a home, can vary drastically, depending on where the home is located.
At the top of the charts,
Based on 2017 data collected by the Texas Real Estate Center at A&M. Showed that the Dallas suburb, Frisco had the highest yearly homeowner cost in the Lone Star State. Home owners in the North Texas city can expect to pay on average $30,936 per year.
Residents in the Woodlands, a suburb North of Houston can expect to pay on average $29,016 per year. A close second to Frisco. Coming in third highest is Sugar Land, the South West suburb of Houston where yearly cost are $28,044. Followed by Flower Mound, where cost are $27,084.
Austins, Cedar Park suburb comes on the charts at number five, with cost averaging $25,716. I was a little surprised not to see Austin in the top 3 but I have a feeling that may change in the next few years.
Top 10 Highest Homeowner Cost
- Frisco- 30,936
- The Woodlands- 29,016
- Sugar Land- 28,044
- Flower Mound- 27,084
- Cedar Park- 25,716
- McKinney- 25,008
- Pearland- 24,276
- Allen- 24,216
- Plano- 23,416
- League City- 23,196
What cities are at the other end of the spectrum?
The South Texas border town of Brownsville has the lowest yearly average homeowner cost, at $13,104. Coming in a close second is Bryan, a suburb of College Station at $13,572. Followed by Killeen at $13,608.
Top 10 Lowest Homeowner Cost
- Brownsville- 13,104
- Bryan- 13,572
- Killeen- 13,608
- Abilene- 13,704
- Wichita Falls- 13,728
- Harlingen- 13,812
- Pharr- 13,824
- Tyler- 14,136
- El Paso- 14,472
- Temple- 14,556
What this means for Houston homeowners…
As you can see the cost to own a home in Texas can vary greatly depending on where that home is located. Frisco residents can expect to pay over double what residents in Brownsville will pay.
The numbers tell an interesting story about the local market here in Houston. Three of the top ten highest cities are located in the Greater Houston Area. This as a whole is a good indicator that the housing market in Houston is strong.
However, if you are in the market to buy a home in Houston. These numbers could help you narrow down your location if you are looking to save a little money. Someone looking to buy in Sugar Land, may way to consider neighboring Missouri City or Richmond in order to pay less per year.
If you are looking in The Woodlands, (which not surprisingly also has the highest property taxes in Texas) you could potentially save money by directing your search towards Spring or Tomball.
Overall,
Texas homeowner cost might be drastically different across the state but when compared nationally the numbers are not as staggering. The Highest national average homeowner cost is Washington D.C, $29,184. Followed by New Jersey, $28,176 and Hawaii, $28,044.
The Lone Star State homeowner cost actually ranks 18th ($18,156) when compared nationally! Which is good news for Texas homeowners!
If you are looking to buy or sell anywhere in Texas feel free to contact us HERE or give us a call at 281-352-9972
