June’s First-Time Homebuyer Report for El Paso
The population of El Paso is somewhat affluent compared to others in Texas with a median income of $40,741 per household. It’s also considered an expensive city in terms of affordability with a cost of living adjustment score of 86.0. The three zip codes with the largest populations are 79936, 79912, and 79924. El Paso is made up of homes that are relatively old with a median of 33 years. Topping the list of best schools in the city is Silva Health Magnet.
If you’re looking to explore the best restaurants in El Paso, then check out Los Bandidos De Carlos & Mickey’s, L&J’s Cafe, and IHOP, Foursquare’s most popular places to eat. If you’d like to grab a drink, a popular spot is Los Bandidos De Carlos & Mickey’s. And a good place to get a cup of coffee is Corner Bakery Cafe.
Some of the more expensive homes in Texas are in El Paso with a median home value of $111,700 and an average list price for available homes currently at $165,775.
A three-bedroom detached home valued around $141,649 is considered a typical dwelling in El Paso. If a buyer was looking for a similar home, they would need good credit and a $28,330 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $915 and the property tax rate is $20.70 per $1,000 of taxable assessed value.
A very insightful article by Homesnap
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