Compare Tyler, TX mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Tyler.
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May 28, 2023
Below we provide helpful information on the real estate market, home prices and housing affordability in Tyler. Understand how much you need to earn to afford a home in Tyler, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Tyler 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 Tyler is right for you.
The median home value for Tyler, TX (Smith County) is $229,990
Based on current mortgage rates and a 10% down payment, you need to make $47,980 per year to buy the median priced home in Tyler
With this income, you could qualify for a $206,991 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 Tyler is $1,111
The median household income for Tyler, TX (Smith County) is $64,036
Based on this income, you can afford a home valued at approximately $306,958
The home price you can afford to buy based on household income in Tyler is 133% of the median home value which means housing prices are average. Tyler (Smith County) ranks 216 out of 254 counties in Texas and 2,252 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Tyler, TX is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Tyler (Smith County) below.
Conforming loan limits for Tyler, TX
FHA loan limits for Tyler, TX
VA loan limits for Tyler, TX
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