Home Affordability in Abilene, TX
The median home price in Abilene is $165,000 with a median household income of $45,640. Housing is moderately affordable relative to local incomes.
Median Home Price
$165,000
Median Income
$45,640
Price-to-Income Ratio
3.6x
Est. Affordable Home
$177,000
Property Tax Rate
1.95%
Annual Property Tax
$3,218
Sales Tax Rate
8.25%
Cost of Living Index
80
Buying a Home in Abilene
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $45,640 in Abilene can afford a monthly housing payment of approximately $1,065. This translates to a home price of roughly $177,000, which is at or above the median home price — the typical home is within reach for a median-income household.
Property taxes on a median-priced home in Abilene would be approximately $3,218 per year ($268/month) at the effective rate of 1.95%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $4,950 | $160,050 | Yes |
| 5% | $8,250 | $156,750 | Yes |
| 10% | $16,500 | $148,500 | Yes |
| 20% | $33,000 | $132,000 | No |
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