13 Texas Cities Where Buying a Home Alone Can Take Decades

Editor's Note: This story originally appeared on Point2.

Just like its heat, getting on the property ladder as a single person in Texas is not for the faint-hearted. And, the data paints a clear picture, reflecting the lived experiences of many non-partnered Texans: Measured against the increased budgeting prowess of couples, single-income homebuyers have their work cut out for them.

A recent Point2 study has disclosed the U.S. cities where singles could save almost as fast as couples. The study determined the maximum afforded mortgage based on the incomes of individuals and couples (so that the monthly loan payment, taxes, and homeowners’ insurance wouldn’t eat up more than 30% of earnings).

Our analysts then calculated the gap between starter home prices and the loan amount to determine the time individuals and couples would need to save to cover it.

Spoiler alert: Texas singles have it rough, but at least not as rough as solo-income buyers in California. In 13 major Texas cities, the gap in saving time for singles and couples Is 10+ years.

Singles in Texas looking to inch closer to homeownership (while not becoming debt-ridden) depend on significant financial adjustments and stringent saving strategies. In this way, the 50/30/20 budget rule, while a helpful guideline, may still fall short when covering the amount left after calculating the maximum affordable mortgage loan.

That’s because most housing markets typically favor dual-income households. And, even with a mortgage that won’t force an extreme tightening of the belt, being a single buyer in one of Texas’ largest cities is a beast in its own right.

1. Dallas

• Starter Home Price: $190,497
• Median Income for Couples: $74,409
• Afforded Mortgage by Couples: $211,927
• Remaining Amount for Couples: $38,099
• Years Couples Need to Save In: 2.6
• Median Income for Individuals: $39,372
• Afforded Mortgage by Individuals: $75,624
• Remaining Amount for Individuals: $114,873
• Years Individuals Need to Save In: 14.6
• Difference in Years to Save: 12.03

2. Laredo

• Starter Home Price: $137,225
• Median Income for Couples: $43,090
• Afforded Mortgage by Couples: $97,785
• Remaining Amount for Couples: $39,440
• Years Couples Need to Save In: 4.6
• Median Income for Individuals: $27,915
• Afforded Mortgage by Individuals: $38,749
• Remaining Amount for Individuals: $98,476
• Years Individuals Need to Save In: 17.6
• Difference in Years to Save: 13.06

3. Fort Worth

• Starter Home Price: $203,241
• Median Income for Couples: $81,132
• Afforded Mortgage by Couples: $232,190
• Remaining Amount for Couples: $40,648
• Years Couples Need to Save In: 2.5
• Median Income for Individuals: $40,176
• Afforded Mortgage by Individuals: $72,859
• Remaining Amount for Individuals: $130,382
• Years Individuals Need to Save In: 16.2
• Difference in Years to Save: 13.72

4. Houston

• Starter Home Price: $182,690
• Median Income for Couples: $71,143
• Afforded Mortgage by Couples: $198,682
• Remaining Amount for Couples: $36,538
• Years Couples Need to Save In: 2.6
• Median Income for Individuals: $35,531
• Afforded Mortgage by Individuals: $60,141
• Remaining Amount for Individuals: $122,549
• Years Individuals Need to Save In: 17.2
• Difference in Years to Save: 14.68

5. San Antonio

• Starter Home Price: $167,563
• Median Income for Couples: $66,412
• Afforded Mortgage by Couples: $182,285
• Remaining Amount for Couples: $33,513
• Years Couples Need to Save In: 2.5
• Median Income for Individuals: $33,163
• Afforded Mortgage by Individuals: $52,941
• Remaining Amount for Individuals: $114,623
• Years Individuals Need to Save In: 17.3
• Difference in Years to Save: 14.76

6. El Paso

• Starter Home Price: $161,657
• Median Income for Couples: $56,095
• Afforded Mortgage by Couples: $136,966
• Remaining Amount for Couples: $32,331
• Years Couples Need to Save In: 2.9
• Median Income for Individuals: $29,569
• Afforded Mortgage by Individuals: $33,775
• Remaining Amount for Individuals: $127,883
• Years Individuals Need to Save In: 21.6
• Difference in Years to Save: 18.74

7. Irving

• Starter Home Price: $254,053
• Median Income for Couples: $85,867
• Afforded Mortgage by Couples: $241,584
• Remaining Amount for Couples: $50,811
• Years Couples Need to Save In: 3.0
• Median Income for Individuals: $40,645
• Afforded Mortgage by Individuals: $65,659
• Remaining Amount for Individuals: $188,394
• Years Individuals Need to Save In: 23.2
• Difference in Years to Save: 20.22

8. Garland

• Starter Home Price: $236,102
• Median Income for Couples: $72,415
• Afforded Mortgage by Couples: $193,463
• Remaining Amount for Couples: $47,220
• Years Couples Need to Save In: 3.3
• Median Income for Individuals: $37,242
• Afforded Mortgage by Individuals: $56,631
• Remaining Amount for Individuals: $179,471
• Years Individuals Need to Save In: 24.1
• Difference in Years to Save: 20.83

9. Frisco

• Starter Home Price: $477,732
• Median Income for Couples: $137,166
• Afforded Mortgage by Couples: $383,075
• Remaining Amount for Couples: $95,546
• Years Couples Need to Save In: 3.5
• Median Income for Individuals: $69,958
• Afforded Mortgage by Individuals: $121,615
• Remaining Amount for Individuals: $356,117
• Years Individuals Need to Save In: 25.5
• Difference in Years to Save: 21.97

10. McKinney

• Starter Home Price: $390,461
• Median Income for Couples: $111,322
• Afforded Mortgage by Couples: $305,554
• Remaining Amount for Couples: $84,907
• Years Couples Need to Save In: 3.8
• Median Income for Individuals: $56,281
• Afforded Mortgage by Individuals: $91,431
• Remaining Amount for Individuals: $299,030
• Years Individuals Need to Save In: 26.6
• Difference in Years to Save: 22.75

11. Austin

• Starter Home Price: $373,010
• Median Income for Couples: $125,139
• Afforded Mortgage by Couples: $368,377
• Remaining Amount for Couples: $74,602
• Years Couples Need to Save In: 3.0
• Median Income for Individuals: $54,065
• Afforded Mortgage by Individuals: $91,877
• Remaining Amount for Individuals: $281,133
• Years Individuals Need to Save In: 26.0
• Difference in Years to Save: 23.02

12. Plano

• Starter Home Price: $379,118
• Median Income for Couples: $110,573
• Afforded Mortgage by Couples: $305,391
• Remaining Amount for Couples: $75,824
• Years Couples Need to Save In: 3.4
• Median Income for Individuals: $54,434
• Afforded Mortgage by Individuals: $86,995
• Remaining Amount for Individuals: $292,123
• Years Individuals Need to Save In: 26.8
• Difference in Years to Save: 23.40

13. Arlington

• Starter Home Price: $251,023
• Median Income for Couples: $83,051
• Afforded Mortgage by Couples: $227,760
• Remaining Amount for Couples: $50,205
• Years Couples Need to Save In: 3.0
• Median Income for Individuals: $37,512
• Afforded Mortgage by Individuals: $50,598
• Remaining Amount for Individuals: $200,425
• Years Individuals Need to Save In: 26.7
• Difference in Years to Save: 23.69

Methodology

Point2, a division of Yardi Systems Inc., covers real estate trends and news. Point2 studies are based on internal data, public records, governmental sources, online research, and other reliable third-party agencies.

• For this study, we took into consideration the largest Texas cities, according to the most recent population data from the U.S. Census Bureau.
• Median income for individuals (aged 15 and older) and couples (2-person families) was sourced from the 2022 ACS 1-year estimates and adjusted for 2023 using the BLS Wages and salaries increase.
• We calculated the mortgage amount that an individual and a couple would be eligible for based on their respective incomes, assuming a monthly mortgage payment (including insurance and taxes) that doesn’t represent more than 30% of the median income and taking into consideration the 6.6%, 30-year fixed-rate mortgage as per FRED.
• We then calculated the difference between the maximum mortgage and local starter home price (also referred to as a down payment) needed to save to purchase a starter home. In cases where the down payment was less than 20% of the starter home price, we defaulted to a minimum of 20%.
• We used the 50/30/20 rule (where 20% of the income should go towards savings) to calculate and compare the years required to save up for a down payment by both individuals and couples.
• Tax rates sourced from SmartAsset; Homeowners Insurance values sourced from ValuePenguin.
• Median starter home prices as per Zillow. The study considers “starter homes” as those valued in the bottom one-third of a given region — that is, homes that fell within the 5th to 35th percentile range.