Texas · McAllen-Edinburg-Mission, TX metro area

Buying a home in Mission, Texas

In Mission, the median value of owner-occupied homes is $175,700, Hidalgo County's effective property tax rate is 1.62%, a purchase mortgage carried a median $9,890 in total loan costs in 2025, and median gross rent is $950 a month.

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

Mission home costs, fact by fact

About Mission

Median gross rent is $950 a month, and HUD's Fair Market Rent for a two-bedroom in Hidalgo County is $1,017. Hidalgo County's effective property tax rate (median tax as a share of home value) is 1.62%, and 71.4% of homes in Mission are owner-occupied.

Reading the Mission figures

Mission sits at the low end of Texas by value: owners estimate a median of $175,700, well below the $318,100 given for the state and below Dallas at $320,700. Laredo reports $193,500, McAllen reports $190,400, and Brownsville reports $139,900, so Mission lands inside a group of lower-value cities rather than apart from it. Rent follows the same pattern, with Mission at $950 a month while Dallas reports $1,472 and Amarillo reports $1,092. HUD's benchmark for Hidalgo County is $1,017, and its larger-unit benchmark is $1,305, a HUD measure rather than a market median. The county rate of 1.62% means the tax collector takes $2,279 a year from a home worth $140,900 at the county's typical level, and that level is below the Mission median, so a buyer here pays tax on a base above the county typical. Mortgages originated in 2025 numbered 4,175, and their typical up-front loan expenses reached $9,890, with the central band from $6,838 to $13,213. That is a wide spread for a market with such low values, and the cost of a loan weighs more heavily when a home is priced at $175,700. Mission's owner share of 71.4% stands above Dallas, where it is 42.4%, and Laredo, where it is 64.1%. San Angelo reports $187,600 and El Paso reports $184,500, so Mission's value is within reach of several other covered Texas cities. Mission has 88,574 residents, and its metro area, McAllen-Edinburg-Mission, ranks 64th with 914,820 residents.

Reading the county figures next to the city ones changes the picture slightly. Hidalgo County's typical home is worth $140,900, below Mission's $175,700, and the annual tax of $2,279 is levied on that lower county base. Edinburg reports $189,600 with rent of $996, and Laredo reports $193,500 with rent of $1,030, so Mission's $950 sits at the low end among them. Beaumont reports a value of $166,400, and Wichita Falls reports $156,800, both lower than Mission. Rent set against value gives another view: San Angelo reports $1,153 against a value of $187,600, Abilene reports $1,157 against $183,700, and Longview reports $1,101 against $202,600, while Mission sits at $950 against $175,700. Abilene's owner share is 56.1%, Amarillo's is 59.7%, and Brownsville's is 61.7%, so Mission's 71.4% is the highest of the Texas cities named in this section. HUD's benchmark of $1,017 for the county runs above Mission's own rent of $950, as it also does in Brownsville, where rent is $923. None of this says what a given home will cost to buy or rent; it only shows where Mission's published figures fall among the covered Texas cities.

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 Mission

How much is property tax in Mission?

Homeowners in Hidalgo County pay a median $2,279 a year in property tax, 1.62% of the county median home value of $140,900 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Mission?

Home-purchase mortgages in Hidalgo County carried median total loan costs of $9,890 in 2025; half of the 4,175 loans fell between $6,838 and $13,213 (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 Mission?

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 Mission?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Mission ($175,700) equals 15.4 years of the median gross rent ($950 a month), both from Census ACS 2020-2024.

What natural hazards affect home insurance in Mission?

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.

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Texas rules that apply in Mission

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Sources

Texas · All states · Federal guides