Let’s build out side-by-side scenarios for a buyer earning $150,000 household income in California vs Texas, showing how much of that income goes into true ownership costs.
Sample Buyer Scenarios – California vs. Texas
Profile Assumptions
- Household income: $150,000/year (~$12,500/month gross)
- Down payment: 20%
- Mortgage rate: 6.5% fixed
- Comparing Bay Area (CA) median home vs Austin (TX) metro median home in 2025.
Scenario 1: California (Bay Area, $850,000 home)
- Home price: $850,000
- Down payment (20%): $170,000
- Loan amount: $680,000
- Monthly mortgage (P+I): ~$4,300
- Property tax (0.7%): ~$6,000/yr → $500/mo
- Insurance: ~$250/mo
- Utilities: ~$300/mo
- HOA (avg suburban community): $400/mo
- Maintenance (1%/yr): ~$700/mo
👉 Total monthly cost: ~$6,450
% of income: 52% of gross household income
Scenario 2: Texas (Austin, $450,000 home)
- Home price: $450,000
- Down payment (20%): $90,000
- Loan amount: $360,000
- Monthly mortgage (P+I): ~$2,300
- Property tax (1.9%): ~$8,550/yr → $710/mo
- Insurance: ~$275/mo
- Utilities (A/C-heavy summers): ~$350/mo
- HOA: $100/mo
- MUD/PID tax (special district): ~$2,500/yr → $210/mo
- Maintenance (1%/yr): ~$375/mo
👉 Total monthly cost: ~$4,320
% of income: 34% of gross household income
📊 Side-by-Side Snapshot
| Category | California (Bay Area) | Texas (Austin) |
|---|---|---|
| Home Price | $850,000 | $450,000 |
| Mortgage (20% down) | $4,300/mo | $2,300/mo |
| Property Tax | $500/mo | $710/mo |
| Insurance | $250/mo | $275/mo |
| Utilities | $300/mo | $350/mo |
| HOA / MUD | $400/mo | $310/mo |
| Maintenance | $700/mo | $375/mo |
| Total Monthly | $6,450 | $4,320 |
| % of $150K income | 52% | 34% |
What This Means for Buyers
- On the same $150K salary:
- A Bay Area buyer spends over half their income on housing costs → pushing affordability thresholds.
- An Austin buyer spends ~one-third of income, leaving more room for savings and lifestyle.
- But:
- California’s Prop 13 tax cap means long-term ownership gets relatively easier over time.
- Texas buyers face ongoing higher taxes and utility swings — so the gap narrows over a decade.
✨ How Homewize Helps
Instead of making guesses, Homewize calculates this exact breakdown for every property → showing mortgage + taxes + insurance + utilities + maintenance + HOA/MUD before you buy.
📢 CTA: Ready to see your true cost of ownership in California or Texas?
➡️ Explore your dream home with Homewize AI today.