Home > Uncategorized > 57.3% of HOMES in TYLER HAVE A MORTGAGE ………..

57.3% of HOMES in TYLER HAVE A MORTGAGE ………..

July 31st, 2009 thebains Leave a comment Go to comments

Average price of a home in Tyler area is $130,300, BUT $106,800 if NO MORTGAGE. Hence these
homes pay less in property taxes. The true cost of owning a home can be 64.5% for a mortgage,
which is something some folks do not understand. With a mortgage the average home owner in
Tyler spends 22.6% of their household income and those without a mortgage 12.7%. Texas housing
is a bargain! Nationally, the monthly cost of owning a house using a mortgage loan is 25.1% of
household income. In Texas it is only 22.6 to 23.3%. Property tax burden is significantly higher in
Texas because of the state’s higher-than-national-average real estate taxes, but NO INCOME TAX.

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