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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Elgin, TX Housing Affordability Index

Elgin, Texas has an MBR Housing Affordability Index score of 99.7 (Near National Average) as of October 30, 2026, ranking 1009th most affordable of 1,229 scored Texas cities, compared with 99.2 statewide and 97.4 nationally. On a median-priced $326,400 home with 20% down, the Texas average 30-year fixed rate of 7.29% means a monthly principal and interest payment of about $1,789, or 24% of the city’s $91,114 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Elgin is updated every night from live Texas mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Elgin MBR-HAI 99.7 Near National Average
Rank in Texas 1,009 of 1,229 1 = most affordable
Texas 99.2 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.29% Texas lenders
Median home value $326,400 U.S. Census Bureau

Elgin is 0.6 points above the Texas score. Scores as of October 30, 2026. See the Texas index

View Elgin Mortgage Rates

What It Takes to Buy in Elgin

$1,789/mo
Principal & Interest
Median home, 20% down, 7.29%
$76,700
Income Needed
To keep the payment at 28% of income
$91,114
Median Household Income
Texas: $78,476
3.6x
Price-to-Income Ratio
Texas: 3.6x
$1,646/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$6,628/yr
Median Property Tax
2.03% of median value
37.0%
Owner Cost Burden
Owners spending 30%+ of income on housing
33.5%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Elgin, Texas. The rate is the Texas average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Elgin Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Elgin, Texas score: 99.7 (Near National Average), ranked 1,009 of 1,229 Texas cities. monitorbankrates.com/housing-affordability-index/texas/elgin”