Texas · 239th largest metro area

Buying a home in Midland, Texas

In Midland, the median value of owner-occupied homes is $319,200, Midland County's effective property tax rate is 1.23%, a purchase mortgage carried a median $10,397 in total loan costs in 2025, and median gross rent is $1,434 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Midland home costs, fact by fact

About Midland

Part of the Midland, TX metro area, Midland in Texas sits in a region of 188,766 residents, ranked 239th among U.S. metro areas.

Reading the Midland figures

Midland's median home value, $319,200, lands almost exactly on the Texas median of $318,100. Dallas shows $320,700, nearly the same figure, while Irving has $315,600 and Conroe $309,600. Higher up the table, League City is at $360,000; Pearland follows at $356,300. Below Midland you find Arlington, at $304,700. Fort Worth lists $303,000; Houston lists $277,800. That places the city in the middle of the 45 covered Texas cities, with values that owners estimate rather than sale prices.

Where Midland stands apart is its market size. Its metro area, Midland, TX, ranks 239th nationally with 188,766 residents. The city itself counts 143,687 people and spans 2 counties. A buyer should keep that scale in mind, because the HUD and loan figures below describe Midland County rather than a large-metro market.

The county tax read is short. Midland County taxes at 1.23% of value and posts a median annual property tax of $3,832, on county homes valued at a median of $312,700. The rate is the number to carry into a budget: every home that sells here is taxed at that share of its value, so a purchase near the city median of $319,200 should be budgeted against the county bill and not against a figure borrowed from another city.

Renting costs $1,434 a month at the median. Dallas sits higher, at $1,472. Fort Worth is higher still, at $1,509. Houston comes in lower, at $1,361, as does Conroe, at $1,393. HUD's Fair Market Rent for the Midland, TX HUD Metro FMR Area is $1,794 for a 2-bedroom home, with the larger home type listed at $2,223. HUD's figure is a rental-assistance benchmark rather than a market median, and the census rent includes every unit size, so the gap between them is only a rough guide.

Midland leans toward ownership: 65.1% of households own. Dallas shows 42.4%. Houston shows 42.1%, and Fort Worth 57%. League City owner share is 74.7% and Pearland's is 76.2%, so Midland sits between the large cities and those owner-heavy cities. Denton comes in at 50%, whereas Irving drops to 38.1%, which shows how widely tenure varies among Texas cities with similar values.

Financing is where Midland carries its heaviest number. In Midland County, 2,682 loans were reported in the 2025 HMDA data; their median loan cost was $10,397, and the middle band ran from $6,561 to $13,321. Even the low end of that band is a real cost at $6,561, so a buyer should ask a lender for a written estimate early and compare it with the county figures before settling on a budget. Midland's own rent and tax numbers are modest, which makes the financing line the one to question first.

Calculate for Texas

If you buy

Texas state transfer tax

Texas has no real estate transfer tax. Change the price: the amount is recalculated instantly.

Price$318,100
State transfer tax$0
Share of the price—

Default price: the Texas median value of owner-occupied homes, $318,100 (Census ACS 2025). Rule: No transfer tax exists. Buyers pay county recording fees and a state-set title insurance premium. Who pays: No transfer tax to assign. Recording fees and the title insurance premium appear on the closing statement. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. Texas transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Texas state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Midland

How much is property tax in Midland?

Homeowners in Midland County pay a median $3,832 a year in property tax, 1.23% of the county median home value of $312,700 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Midland?

Home-purchase mortgages in Midland County carried median total loan costs of $10,397 in 2025; half of the 2,682 loans fell between $6,561 and $13,321 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Midland?

Texas has no real estate transfer tax. Article VIII, Section 29 of the Texas Constitution, added November 3, 2015, says no law enacted after January 1, 2016 may impose a transfer tax on a transaction that conveys fee simple title to real property.

Is it cheaper to rent or buy in Midland?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Midland ($319,200) equals 18.5 years of the median gross rent ($1,434 a month), both from Census ACS 2020-2024.

What natural hazards affect home insurance in Midland?

Across Texas, the main hazards for home insurance are flood, tornado, wind and hail, and the insurer of last resort is Texas FAIR Plan Association (TFPA). Texas gets more tornadoes than any other state, according to the Texas Department of Insurance; on the coast, windstorm coverage comes from a separate policy, often from TWIA, in 14 coastal counties plus part of Harris County.

Run your own numbers: rent vs buy calculator · closing costs calculator.

Texas rules that apply in Midland

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Sources

Texas · All states · Federal guides