Home Affordability in Carrollton, TX
The median home price in Carrollton is $370,000 with a median household income of $74,815. Housing is moderately affordable relative to local incomes.
Median Home Price
$370,000
Median Income
$74,815
Price-to-Income Ratio
4.9x
Est. Affordable Home
$291,000
Property Tax Rate
1.90%
Annual Property Tax
$7,030
Sales Tax Rate
8.25%
Cost of Living Index
102
Buying a Home in Carrollton
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $74,815 in Carrollton can afford a monthly housing payment of approximately $1,746. This translates to a home price of roughly $291,000, which is below the median home price of $370,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Carrollton would be approximately $7,030 per year ($586/month) at the effective rate of 1.90%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $11,100 | $358,900 | Yes |
| 5% | $18,500 | $351,500 | Yes |
| 10% | $37,000 | $333,000 | Yes |
| 20% | $74,000 | $296,000 | No |
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