The real estate market is booming right now thanks to low interest rates, a flood of millennial buyers, and shrinking inventory. The median cost of a home has increased 20% year over year, hitting $347,500, according to a report released in April 2020 by real estate listing website Redfin. These high asking costs—while good for sellers—are pricing many buyers out of the market entirely.
But all things are not equal when it comes to real estate in the United States.
Credible used 2021 data calculated by the National Association of REALTORS to compile a list of counties with the lowest median home values and monthly mortgage payments in Texas. Counties were ranked by the monthly mortgage payment for a typical home in 2020, from lowest to highest. Ties were broken by median home values in 2020.
The National Association of REALTORS calculated the fourth quarter 2020 median home values by applying the Federal Housing Finance Agency's House Price Index growth to 2019 housing and population data from the American Community Survey and determining an estimate of 2020 median home values for all counties where data is available. The monthly mortgage payments for fourth quarter 2019 and fourth quarter 2020 were calculated for a 30-year fixed-rate mortgage with a 10% down payment.
Keep reading to discover which county in Texas has the lowest home prices.
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#30. Upton County
- Monthly mortgage payment in 2020: $262 (9.7% less than 2019)
- Monthly mortgage payment in 2019: $290
- Median home value in 2020: $70,700
- Ranked #104 out of 3,120 counties nationwide
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#29. Briscoe County
- Monthly mortgage payment in 2020: $258 (10.4% less than 2019)
- Monthly mortgage payment in 2019: $288
- Median home value in 2020: $69,700
- Ranked #94 out of 3,120 counties nationwide
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#28. Lamb County
- Monthly mortgage payment in 2020: $256 (10.2% less than 2019)
- Monthly mortgage payment in 2019: $285
- Median home value in 2020: $69,200
- Ranked #87 out of 3,120 counties nationwide
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#27. Jim Hogg County
- Monthly mortgage payment in 2020: $254 (13.6% less than 2019)
- Monthly mortgage payment in 2019: $294
- Median home value in 2020: $68,600
- Ranked #81 out of 3,120 counties nationwide
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#26. Reeves County
- Monthly mortgage payment in 2020: $253 (7.7% less than 2019)
- Monthly mortgage payment in 2019: $274
- Median home value in 2020: $68,400
- Ranked #78 out of 3,120 counties nationwide
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#25. Floyd County
- Monthly mortgage payment in 2020: $251 (11.0% less than 2019)
- Monthly mortgage payment in 2019: $282
- Median home value in 2020: $67,900
- Ranked #72 out of 3,120 counties nationwide
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#24. Winkler County
- Monthly mortgage payment in 2020: $245 (13.7% less than 2019)
- Monthly mortgage payment in 2019: $284
- Median home value in 2020: $66,200
- Ranked #62 out of 3,120 counties nationwide
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#23. Culberson County
- Monthly mortgage payment in 2020: $244 (2.8% less than 2019)
- Monthly mortgage payment in 2019: $251
- Median home value in 2020: $65,900
- Ranked #61 out of 3,120 counties nationwide
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#22. Baylor County
- Monthly mortgage payment in 2020: $242 (22.2% less than 2019)
- Monthly mortgage payment in 2019: $311
- Median home value in 2020: $65,500
- Ranked #57 out of 3,120 counties nationwide
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#21. Crosby County
- Monthly mortgage payment in 2020: $237 (6.3% less than 2019)
- Monthly mortgage payment in 2019: $253
- Median home value in 2020: $64,100
- Ranked #54 out of 3,120 counties nationwide
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#20. Menard County
- Monthly mortgage payment in 2020: $232 (7.6% less than 2019)
- Monthly mortgage payment in 2019: $251
- Median home value in 2020: $62,600
- Ranked #47 out of 3,120 counties nationwide
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#19. Sterling County
- Monthly mortgage payment in 2020: $231 (18.9% less than 2019)
- Monthly mortgage payment in 2019: $285
- Median home value in 2020: $62,300
- Ranked #45 out of 3,120 counties nationwide
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#18. Motley County
- Monthly mortgage payment in 2020: $221 (10.2% less than 2019)
- Monthly mortgage payment in 2019: $246
- Median home value in 2020: $59,700
- Ranked #37 out of 3,120 counties nationwide
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#17. Throckmorton County
- Monthly mortgage payment in 2020: $220 (26.7% less than 2019)
- Monthly mortgage payment in 2019: $300
- Median home value in 2020: $59,500
- Ranked #35 out of 3,120 counties nationwide
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#16. Stonewall County
- Monthly mortgage payment in 2020: $217 (15.6% less than 2019)
- Monthly mortgage payment in 2019: $257
- Median home value in 2020: $58,700
- Ranked #32 out of 3,120 counties nationwide
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#15. Willacy County
- Monthly mortgage payment in 2020: $216 (13.6% less than 2019)
- Monthly mortgage payment in 2019: $250
- Median home value in 2020: $58,400
- Ranked #31 out of 3,120 counties nationwide
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#14. Haskell County
- Monthly mortgage payment in 2020: $211 (7.0% less than 2019)
- Monthly mortgage payment in 2019: $227
- Median home value in 2020: $56,900
- Ranked #27 out of 3,120 counties nationwide
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#13. Hall County
- Monthly mortgage payment in 2020: $206 (2.8% less than 2019)
- Monthly mortgage payment in 2019: $212
- Median home value in 2020: $55,800
- Ranked #24 out of 3,120 counties nationwide
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#12. Collingsworth County
- Monthly mortgage payment in 2020: $204 (10.5% less than 2019)
- Monthly mortgage payment in 2019: $228
- Median home value in 2020: $55,100
- Ranked #23 out of 3,120 counties nationwide
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#11. Dickens County
- Monthly mortgage payment in 2020: $200 (16.0% less than 2019)
- Monthly mortgage payment in 2019: $238
- Median home value in 2020: $54,000
- Ranked #19 out of 3,120 counties nationwide
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#10. Hudspeth County
- Monthly mortgage payment in 2020: $199 (2.0% less than 2019)
- Monthly mortgage payment in 2019: $203
- Median home value in 2020: $53,800
- Ranked #18 out of 3,120 counties nationwide
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#9. Zavala County
- Monthly mortgage payment in 2020: $196 (8.4% less than 2019)
- Monthly mortgage payment in 2019: $214
- Median home value in 2020: $52,800
- Ranked #17 out of 3,120 counties nationwide
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#8. Duval County
- Monthly mortgage payment in 2020: $193 (12.3% less than 2019)
- Monthly mortgage payment in 2019: $220
- Median home value in 2020: $52,200
- Ranked #14 out of 3,120 counties nationwide
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#7. Cottle County
- Monthly mortgage payment in 2020: $182 (0.5% less than 2019)
- Monthly mortgage payment in 2019: $183
- Median home value in 2020: $49,200
- Ranked #10 out of 3,120 counties nationwide
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#6. Foard County
- Monthly mortgage payment in 2020: $181 (9.0% less than 2019)
- Monthly mortgage payment in 2019: $199
- Median home value in 2020: $49,000
- Ranked #9 out of 3,120 counties nationwide
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#5. Knox County
- Monthly mortgage payment in 2020: $176 (8.8% less than 2019)
- Monthly mortgage payment in 2019: $193
- Median home value in 2020: $47,500
- Ranked #8 out of 3,120 counties nationwide
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#4. Hardeman County
- Monthly mortgage payment in 2020: $169 (0.6% greater than 2019)
- Monthly mortgage payment in 2019: $168
- Median home value in 2020: $45,500
- Ranked #7 out of 3,120 counties nationwide
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#3. Cochran County
- Monthly mortgage payment in 2020: $152 (1.3% greater than 2019)
- Monthly mortgage payment in 2019: $150
- Median home value in 2020: $41,000
- Ranked #6 out of 3,120 counties nationwide
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#2. King County
- Monthly mortgage payment in 2020: $144 (14.8% less than 2019)
- Monthly mortgage payment in 2019: $169
- Median home value in 2020: $38,800
- Ranked #5 out of 3,120 counties nationwide
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#1. Kent County
- Monthly mortgage payment in 2020: $137 (21.7% less than 2019)
- Monthly mortgage payment in 2019: $175
- Median home value in 2020: $37,000
- Ranked #4 out of 3,120 counties nationwide
