Housing Affordability in Amarillo, TX
Median home value in Amarillo is $211,528 and median rent is $1,330. Median household income is $76,292. Price-to-income ratio is about 2.77. Use this as a starting point; neighborhood and property type can change the math.
See All-In CostsMortgage basics, no jargon
If you're tired or skimming, here's what actually matters before you compare rates in Amarillo, TX.
Points
Points are upfront fees that lower your rate. They only make sense if you keep the loan long enough to earn the savings back.
Closing costs
Closing costs are the fees to finish the loan (appraisal, title, escrow, taxes, insurance). They're separate from your down payment and can add a meaningful amount to your cash to close.
DTI
DTI is your debt-to-income ratio. Lenders compare your monthly debt payments to your gross monthly income. Lower DTI usually means more options and better pricing.
Illiquid investment
A home is a big, illiquid investment. It can take time and money to sell, so buying makes the most sense if you plan to stay for a while.
Pricing is opaque on purpose.
Low rates can hide high fees. We show every line item so you can make a real apples-to-apples comparison. Ralo focuses on clear, all-in quotes so you can compare mortgage options more clearly.
Source: U.S. Census ACS 2023 5-year.
How Amarillo Compares
Home values run 2.8× the median household income in Amarillo, against 3.4× across Texas. Among the 47 cities Ralo covers in its served states, Amarillo ranks 1 of 47 by that price-to-income ratio, where 1 is the most affordable.
| Area | Median home value | Median rent | Median household income | Price to income |
|---|---|---|---|---|
| Amarillo, TX | $211,528 | $1,330/mo | $76,292 | 2.8× |
| Texas statewide | $260,400 | $1,339/mo | $76,292 | 3.4× |
Most affordable by this measure: Lubbock, TX (2.8×), Laredo, TX (2.9×). Least affordable: Irvine, CA (15.5×), San Jose, CA (14.1×), Anaheim, CA (9.8×). Census ACS medians for home value and income; Zillow for rent.
Key Cost Factors
- •Price-to-income ratio is about 2.77.
- •Rent-to-income ratio is about 0.21.
- •Property taxes and insurance vary widely by county.
- •Commute, utilities, and HOA fees can swing monthly costs.
Tips for Buying in Amarillo
Plan for closing costs on top of your down payment.
Keep your DTI low by paying down monthly debts before you shop.
Compare rate, points, and closing costs together, not just the rate.
Remember a home is illiquid and takes time and money to sell.
Housing Costs at a Glance
Buy
Median home price
Rent
Median monthly rent
The Questions Everyone Asks
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