The typical owner-occupied home in Big Lake is worth about $157,900, 44% below the Texas median of $283,800 and 53% below the national median of $332,700. Owners pay a median $1,657 a year in property taxes, about 1.05% of their home's value, lower than the Texas rate of 1.49%. The median household earns $71,471 a year, so the median home costs 2.2 times the median income (3.6 times for Texas). 75% of occupied homes here are lived in by their owners, and 30% of those owners still have a mortgage.
Big Lake at a glance
| Big Lake | Texas | U.S. | |
|---|---|---|---|
| Median home value | $157,900 | $283,800 | $332,700 |
| Median property tax paid per year | $1,657 | $4,232 | $3,119 |
| Property tax as a share of value | 1.05% | 1.49% | 0.94% |
| Median household income | $71,471 | $78,476 | $80,734 |
| Homes lived in by their owners | 75% | 63% | 65% |
| Owner homes with a mortgage | 30% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,384 | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 19.4% | 21.7% | 21.0% |
| Median rent | $746 | $1,403 | $1,413 |
| Rent as a share of renters' income | 15.2% | 30.9% | 30.6% |
| Median year homes were built | 1983 | 1992 | 1980 |
| Vacant homes | 17.4% | 9.4% | 10.1% |
| Population | 2,990 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Big Lake
At this week's average 30-year rate of 7.11%, buying the median Big Lake home of $157,900 with 20% down costs about $1,054 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,317, 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 $45,159 for the 20%-down payment. That payment is 18% of the median Big Lake household income of $71,471; at that income and 20% down, the 28% guideline points to a home of about $250,000.
The median rent here is $746 a month, so owning the median home costs about $308 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $31,580 |
|---|---|
| Loan amount | $126,320 |
| Principal and interest | $850 |
| Property taxes (1.05% a year) | $138 |
| Homeowners insurance (our estimate, 0.5% a year) | $66 |
| PMI | $0 |
| Total per month | $1,054 |
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| Down payment | $5,526 |
|---|---|
| Loan amount | $155,040 |
| Principal and interest | $1,043 |
| Property taxes (1.05% a year) | $138 |
| Homeowners insurance (our estimate, 0.5% a year) | $66 |
| FHA mortgage insurance | $70 |
| Total per month | $1,317 |
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Questions about home buying in Big Lake
What is the median home value in Big Lake?
About $157,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Big Lake?
Homeowners pay a median $1,657 a year, which is about 1.05% 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 Big Lake?
For the median home with 20% down at 7.11%, the payment is about $1,054 a month. Keeping that under 28% of gross income takes about $45,159 a year.
More about Big Lake
- Mortgage Refinance in Big Lake
- Debt Relief in Big Lake
- Home Equity Loans in Big Lake
- 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