Home Affordability in Fort Worth, TX
The median home price in Fort Worth is $320,000 with a median household income of $63,408. Housing is significantly stretched relative to local incomes.
Median Home Price
$320,000
Median Income
$63,408
Price-to-Income Ratio
5.0x
Est. Affordable Home
$247,000
Property Tax Rate
1.96%
Annual Property Tax
$6,272
Sales Tax Rate
8.25%
Cost of Living Index
95
Buying a Home in Fort Worth
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $63,408 in Fort Worth can afford a monthly housing payment of approximately $1,480. This translates to a home price of roughly $247,000, which is below the median home price of $320,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Fort Worth would be approximately $6,272 per year ($523/month) at the effective rate of 1.96%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $9,600 | $310,400 | Yes |
| 5% | $16,000 | $304,000 | Yes |
| 10% | $32,000 | $288,000 | Yes |
| 20% | $64,000 | $256,000 | No |
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