The typical owner-occupied home in Merkel is worth about $115,100, 59% below the Texas median of $283,800 and 65% below the national median of $332,700. Owners pay a median $1,164 a year in property taxes, about 1.01% of their home's value, lower than the Texas rate of 1.49%. The median household earns $73,500 a year, so the median home costs 1.6 times the median income (3.6 times for Texas). 73% of occupied homes here are lived in by their owners, and 46% of those owners still have a mortgage.
Merkel at a glance
| Merkel | Texas | U.S. | |
|---|---|---|---|
| Median home value | $115,100 | $283,800 | $332,700 |
| Median property tax paid per year | $1,164 | $4,232 | $3,119 |
| Property tax as a share of value | 1.01% | 1.49% | 0.94% |
| Median household income | $73,500 | $78,476 | $80,734 |
| Homes lived in by their owners | 73% | 63% | 65% |
| Owner homes with a mortgage | 46% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,227 | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 13.8% | 21.7% | 21.0% |
| Median rent | $1,058 | $1,403 | $1,413 |
| Rent as a share of renters' income | 17.8% | 30.9% | 30.6% |
| Median year homes were built | 1961 | 1992 | 1980 |
| Vacant homes | 19.4% | 9.4% | 10.1% |
| Population | 2,699 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Merkel
At this week's average 30-year rate of 7.11%, buying the median Merkel home of $115,100 with 20% down costs about $764 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $956, 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 $32,754 for the 20%-down payment. That payment is 12% of the median Merkel household income of $73,500; at that income and 20% down, the 28% guideline points to a home of about $258,000.
The median rent here is $1,058 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $23,020 |
|---|---|
| Loan amount | $92,080 |
| Principal and interest | $619 |
| Property taxes (1.01% a year) | $97 |
| Homeowners insurance (our estimate, 0.5% a year) | $48 |
| PMI | $0 |
| Total per month | $764 |
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| Down payment | $4,028 |
|---|---|
| Loan amount | $113,015 |
| Principal and interest | $760 |
| Property taxes (1.01% a year) | $97 |
| Homeowners insurance (our estimate, 0.5% a year) | $48 |
| FHA mortgage insurance | $51 |
| Total per month | $956 |
Change the numbers in the calculator
Questions about home buying in Merkel
What is the median home value in Merkel?
About $115,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Merkel?
Homeowners pay a median $1,164 a year, which is about 1.01% 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 Merkel?
For the median home with 20% down at 7.11%, the payment is about $764 a month. Keeping that under 28% of gross income takes about $32,754 a year.
More about Merkel
- Mortgage Refinance in Merkel
- Debt Relief in Merkel
- Home Equity Loans in Merkel
- 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