The typical owner-occupied home in Dripping Springs is worth about $635,600, 2.2 times the Texas median of $283,800 and 91% above the national median of $332,700. Owners pay a median $8,571 a year in property taxes, about 1.35% of their home's value, lower than the Texas rate of 1.49%. The median household earns $109,364 a year, so the median home costs 5.8 times the median income (3.6 times for Texas). 49% of occupied homes here are lived in by their owners, and 68% of those owners still have a mortgage.
Dripping Springs at a glance
| Dripping Springs | Texas | U.S. | |
|---|---|---|---|
| Median home value | $635,600 | $283,800 | $332,700 |
| Median property tax paid per year | $8,571 | $4,232 | $3,119 |
| Property tax as a share of value | 1.35% | 1.49% | 0.94% |
| Median household income | $109,364 | $78,476 | $80,734 |
| Homes lived in by their owners | 49% | 63% | 65% |
| Owner homes with a mortgage | 68% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $2,948 | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 19.5% | 21.7% | 21.0% |
| Median rent | $2,234 | $1,403 | $1,413 |
| Rent as a share of renters' income | 30.0% | 30.9% | 30.6% |
| Median year homes were built | 2013 | 1992 | 1980 |
| Vacant homes | 3.6% | 9.4% | 10.1% |
| Population | 7,405 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Dripping Springs
At this week's average 30-year rate of 7.11%, buying the median Dripping Springs home of $635,600 with 20% down costs about $4,400 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,459, 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 $188,591 for the 20%-down payment. That payment is 48% of the median Dripping Springs household income of $109,364; at that income and 20% down, the 28% guideline points to a home of about $369,000.
The median rent here is $2,234 a month, so owning the median home costs about $2,166 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $127,120 |
|---|---|
| Loan amount | $508,480 |
| Principal and interest | $3,421 |
| Property taxes (1.35% a year) | $715 |
| Homeowners insurance (our estimate, 0.5% a year) | $265 |
| PMI | $0 |
| Total per month | $4,400 |
Change the numbers in the calculator
| Down payment | $22,246 |
|---|---|
| Loan amount | $624,088 |
| Principal and interest | $4,198 |
| Property taxes (1.35% a year) | $715 |
| Homeowners insurance (our estimate, 0.5% a year) | $265 |
| FHA mortgage insurance | $281 |
| Total per month | $5,459 |
Change the numbers in the calculator
Questions about home buying in Dripping Springs
What is the median home value in Dripping Springs?
About $635,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Dripping Springs?
Homeowners pay a median $8,571 a year, which is about 1.35% 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 Dripping Springs?
For the median home with 20% down at 7.11%, the payment is about $4,400 a month. Keeping that under 28% of gross income takes about $188,591 a year.
More about Dripping Springs
- Mortgage Refinance in Dripping Springs
- Debt Relief in Dripping Springs
- Home Equity Loans in Dripping Springs
- 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