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May 29, 2023
Below we provide helpful information on the real estate market, home prices and housing affordability in Plano. Understand how much you need to earn to afford a home in Plano, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Plano fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Plano is right for you.
The median home value for Plano, TX (Collin County) is $464,520
Based on current mortgage rates and a 10% down payment, you need to make $96,906 per year to buy the median priced home in Plano
With this income, you could qualify for a $418,068 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Plano is $2,244
The median household income for Plano, TX (Collin County) is $102,976
Based on this income, you can afford a home valued at approximately $493,614
The home price you can afford to buy based on household income in Plano is 106% of the median home value which means housing prices are average. Plano (Collin County) ranks 246 out of 254 counties in Texas and 2,744 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Plano, TX is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Plano (Collin County) below.
Conforming loan limits for Plano, TX
FHA loan limits for Plano, TX
VA loan limits for Plano, TX
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