El Paso, TX
El Paso County · Pop. 678,815
Ranked #20 of 243 cities
56Moderate
Median Home Price
🏠$210K
2.8% YoY
Median Rent
🔑$1,000
2.0% YoY
Median Income
💰$42K
Rent Burden
📊31.5%
% of income to rent
Income to Buy
🏦$60K
annual income needed
Income to Rent
📝$40K
annual income needed
Price-to-Income
⚖️5.0x
Homeownership
🏡60.0%
Rent vs. Buy
Buy
$1,118/mo
Est. mortgage (7%, 20% down)
Need $60K/yr income
Rent
$1,000/mo
Median rent
Need $40K/yr income
How El Paso Compares
| Metric | El Paso | Texas | National |
|---|---|---|---|
| Home Price | $210K | $297K | $410K |
| Rent | $1,000 | $1,413 | $1,500 |
| Income | $42K | $76K | $75K |
| Rent Burden | 31.5% | 32.0% | 30.0% |
Key Takeaways
- • Home prices in El Paso are 49% lower than the national average.
- • Rent is 33% lower than the national average.
- • You need an income of $60K to comfortably buy a home here.
- • The homeownership rate is 60.0%, compared to 65.0% nationally.