The typical owner-occupied home in Mckinney is worth about $471,800, 66% above the Texas median of $283,800 and 42% above the national median of $332,700. Owners pay a median $7,791 a year in property taxes, about 1.65% of their home's value, higher than the Texas rate of 1.49%. The median household earns $124,215 a year, so the median home costs 3.8 times the median income (3.6 times for Texas). 64% of occupied homes here are lived in by their owners, and 74% of those owners still have a mortgage.
Mckinney at a glance
| Mckinney | Texas | U.S. | |
|---|---|---|---|
| Median home value | $471,800 | $283,800 | $332,700 |
| Median property tax paid per year | $7,791 | $4,232 | $3,119 |
| Property tax as a share of value | 1.65% | 1.49% | 0.94% |
| Median household income | $124,215 | $78,476 | $80,734 |
| Homes lived in by their owners | 64% | 63% | 65% |
| Owner homes with a mortgage | 74% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $2,763 | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 20.6% | 21.7% | 21.0% |
| Median rent | $1,901 | $1,403 | $1,413 |
| Rent as a share of renters' income | 29.4% | 30.9% | 30.6% |
| Median year homes were built | 2007 | 1992 | 1980 |
| Vacant homes | 4.6% | 9.4% | 10.1% |
| Population | 210,600 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Mckinney
At this week's average 30-year rate of 7.11%, buying the median Mckinney home of $471,800 with 20% down costs about $3,384 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,170, 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 $145,044 for the 20%-down payment. That payment is 33% of the median Mckinney household income of $124,215; at that income and 20% down, the 28% guideline points to a home of about $404,000.
The median rent here is $1,901 a month, so owning the median home costs about $1,483 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $94,360 |
|---|---|
| Loan amount | $377,440 |
| Principal and interest | $2,539 |
| Property taxes (1.65% a year) | $649 |
| Homeowners insurance (our estimate, 0.5% a year) | $197 |
| PMI | $0 |
| Total per month | $3,384 |
Change the numbers in the calculator
| Down payment | $16,513 |
|---|---|
| Loan amount | $463,255 |
| Principal and interest | $3,116 |
| Property taxes (1.65% a year) | $649 |
| Homeowners insurance (our estimate, 0.5% a year) | $197 |
| FHA mortgage insurance | $209 |
| Total per month | $4,170 |
Change the numbers in the calculator
Questions about home buying in Mckinney
What is the median home value in Mckinney?
About $471,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Mckinney?
Homeowners pay a median $7,791 a year, which is about 1.65% 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 Mckinney?
For the median home with 20% down at 7.11%, the payment is about $3,384 a month. Keeping that under 28% of gross income takes about $145,044 a year.
More about Mckinney
- Mortgage Refinance in Mckinney
- Debt Relief in Mckinney
- Home Equity Loans in Mckinney
- 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