The typical owner-occupied home in Follett is worth about $97,500, 66% below the Texas median of $283,800 and 71% below the national median of $332,700. Owners pay a median $1,583 a year in property taxes, about 1.62% of their home's value, higher than the Texas rate of 1.49%. The median household earns $88,438 a year, so the median home costs 1.1 times the median income (3.6 times for Texas). 94% of occupied homes here are lived in by their owners, and 29% of those owners still have a mortgage.
Follett at a glance
| Follett | Texas | U.S. | |
|---|---|---|---|
| Median home value | $97,500 | $283,800 | $332,700 |
| Median property tax paid per year | $1,583 | $4,232 | $3,119 |
| Property tax as a share of value | 1.62% | 1.49% | 0.94% |
| Median household income | $88,438 | $78,476 | $80,734 |
| Homes lived in by their owners | 94% | 63% | 65% |
| Owner homes with a mortgage | 29% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,148 | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 16.3% | 21.7% | 21.0% |
| Median rent | – | $1,403 | $1,413 |
| Median year homes were built | 1965 | 1992 | 1980 |
| Vacant homes | 38.3% | 9.4% | 10.1% |
| Population | 305 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Follett
At this week's average 30-year rate of 7.11%, buying the median Follett home of $97,500 with 20% down costs about $697 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $859, 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 $29,870 for the 20%-down payment. That payment is 9% of the median Follett household income of $88,438; at that income and 20% down, the 28% guideline points to a home of about $289,000.
| Down payment | $19,500 |
|---|---|
| Loan amount | $78,000 |
| Principal and interest | $525 |
| Property taxes (1.62% a year) | $132 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| PMI | $0 |
| Total per month | $697 |
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| Down payment | $3,412 |
|---|---|
| Loan amount | $95,734 |
| Principal and interest | $644 |
| Property taxes (1.62% a year) | $132 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| FHA mortgage insurance | $43 |
| Total per month | $859 |
Change the numbers in the calculator
Questions about home buying in Follett
What is the median home value in Follett?
About $97,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Follett?
Homeowners pay a median $1,583 a year, which is about 1.62% 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 Follett?
For the median home with 20% down at 7.11%, the payment is about $697 a month. Keeping that under 28% of gross income takes about $29,870 a year.
More about Follett
- Mortgage Refinance in Follett
- Debt Relief in Follett
- Home Equity Loans in Follett
- 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