The typical owner-occupied home in Desoto is worth about $319,400, 13% above the Texas median of $283,800 and 4% below the national median of $332,700. Owners pay a median $5,316 a year in property taxes, about 1.66% of their home's value, higher than the Texas rate of 1.49%. The median household earns $82,782 a year, so the median home costs 3.9 times the median income (3.6 times for Texas). 70% of occupied homes here are lived in by their owners, and 70% of those owners still have a mortgage.
Desoto at a glance
| Desoto | Texas | U.S. | |
|---|---|---|---|
| Median home value | $319,400 | $283,800 | $332,700 |
| Median property tax paid per year | $5,316 | $4,232 | $3,119 |
| Property tax as a share of value | 1.66% | 1.49% | 0.94% |
| Median household income | $82,782 | $78,476 | $80,734 |
| Homes lived in by their owners | 70% | 63% | 65% |
| Owner homes with a mortgage | 70% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $2,119 | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 26.5% | 21.7% | 21.0% |
| Median rent | $1,666 | $1,403 | $1,413 |
| Rent as a share of renters' income | 39.6% | 30.9% | 30.6% |
| Median year homes were built | 1993 | 1992 | 1980 |
| Vacant homes | 4.7% | 9.4% | 10.1% |
| Population | 56,211 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Desoto
At this week's average 30-year rate of 7.11%, buying the median Desoto home of $319,400 with 20% down costs about $2,294 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,826, 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 $98,307 for the 20%-down payment. That payment is 33% of the median Desoto household income of $82,782; at that income and 20% down, the 28% guideline points to a home of about $269,000.
The median rent here is $1,666 a month, so owning the median home costs about $628 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $63,880 |
|---|---|
| Loan amount | $255,520 |
| Principal and interest | $1,719 |
| Property taxes (1.66% a year) | $442 |
| Homeowners insurance (our estimate, 0.5% a year) | $133 |
| PMI | $0 |
| Total per month | $2,294 |
Change the numbers in the calculator
| Down payment | $11,179 |
|---|---|
| Loan amount | $313,615 |
| Principal and interest | $2,110 |
| Property taxes (1.66% a year) | $442 |
| Homeowners insurance (our estimate, 0.5% a year) | $133 |
| FHA mortgage insurance | $141 |
| Total per month | $2,826 |
Change the numbers in the calculator
Questions about home buying in Desoto
What is the median home value in Desoto?
About $319,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Desoto?
Homeowners pay a median $5,316 a year, which is about 1.66% 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 Desoto?
For the median home with 20% down at 7.11%, the payment is about $2,294 a month. Keeping that under 28% of gross income takes about $98,307 a year.
More about Desoto
- Mortgage Refinance in Desoto
- Debt Relief in Desoto
- Home Equity Loans in Desoto
- 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