The typical owner-occupied home in Elkhart is worth about $107,300, 62% below the Texas median of $283,800 and 68% below the national median of $332,700. Owners pay a median $983 a year in property taxes, about 0.92% of their home's value, lower than the Texas rate of 1.49%. The median household earns $52,891 a year, so the median home costs 2.0 times the median income (3.6 times for Texas). 65% of occupied homes here are lived in by their owners, and 43% of those owners still have a mortgage.
Elkhart at a glance
| Elkhart | Texas | U.S. | |
|---|---|---|---|
| Median home value | $107,300 | $283,800 | $332,700 |
| Median property tax paid per year | $983 | $4,232 | $3,119 |
| Property tax as a share of value | 0.92% | 1.49% | 0.94% |
| Median household income | $52,891 | $78,476 | $80,734 |
| Homes lived in by their owners | 65% | 63% | 65% |
| Owner homes with a mortgage | 43% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,250 | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 17.9% | 21.7% | 21.0% |
| Median rent | $756 | $1,403 | $1,413 |
| Rent as a share of renters' income | 30.3% | 30.9% | 30.6% |
| Median year homes were built | 1974 | 1992 | 1980 |
| Vacant homes | 9.1% | 9.4% | 10.1% |
| Population | 1,701 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Elkhart
At this week's average 30-year rate of 7.11%, buying the median Elkhart home of $107,300 with 20% down costs about $704 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $883, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $30,189 for the 20%-down payment. That payment is 16% of the median Elkhart household income of $52,891; at that income and 20% down, the 28% guideline points to a home of about $188,000.
The median rent here is $756 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $21,460 |
|---|---|
| Loan amount | $85,840 |
| Principal and interest | $577 |
| Property taxes (0.92% a year) | $82 |
| Homeowners insurance (our estimate, 0.5% a year) | $45 |
| PMI | $0 |
| Total per month | $704 |
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| Down payment | $3,756 |
|---|---|
| Loan amount | $105,357 |
| Principal and interest | $709 |
| Property taxes (0.92% a year) | $82 |
| Homeowners insurance (our estimate, 0.5% a year) | $45 |
| FHA mortgage insurance | $47 |
| Total per month | $883 |
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Questions about home buying in Elkhart
What is the median home value in Elkhart?
About $107,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Elkhart?
Homeowners pay a median $983 a year, which is about 0.92% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Elkhart?
For the median home with 20% down at 7.11%, the payment is about $704 a month. Keeping that under 28% of gross income takes about $30,189 a year.
More about Elkhart
- Mortgage Refinance in Elkhart
- Debt Relief in Elkhart
- Home Equity Loans in Elkhart
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data