Texas · Dallas-Fort Worth-Arlington, TX metro area

Buying a home in Richardson, Texas

In Richardson, the median value of owner-occupied homes is $431,400, Dallas County's effective property tax rate is 1.58%, a purchase mortgage carried a median $8,710 in total loan costs in 2025, and median gross rent is $1,857 a month.

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

Richardson home costs, fact by fact

About Richardson

In Dallas County, the effective property tax rate (median tax as a share of home value) is 1.58%, and HUD's Fair Market Rent for a two-bedroom is $1,807. Richardson, Texas, has a population of 118,221, and its median value of owner-occupied homes, estimated by owners rather than a sale price, is $431,400.

Reading the Richardson figures

Richardson reports a median home value of $431,400, above the Texas median of $318,100 and well above the $320,700 reported for Dallas. Frisco reaches $642,100, followed by Austin at $555,300. The Woodlands comes to $511,700. McKinney reports $471,800. Plano comes to $465,900, and Allen to $464,100, so each of these sits above it. Sugar Land comes in just below, at $430,200. Georgetown reports $429,100. Further down, Round Rock registers $418,600 and Carrollton $381,000. Owners gave these figures; no closing is behind them.

The county tax read uses Dallas County, which taxes at 1.58% of value and posts a median annual bill of $4,798, on county homes valued at a median of $303,000. Richardson's median sits well above that county value, so a Richardson home would carry a higher bill than the county typical. A buyer should apply the 1.58% rate to a specific home rather than lean on the county bill, because the rate stays fixed while the value changes. That also means the tax grows quickly as the home price rises.

Rent is $1,857 a month at the median. Plano sits lower, at $1,841. Round Rock rent is $1,763, Carrollton's $1,735. McKinney runs higher, at $1,901, as does Allen, at $1,932. HUD's Fair Market Rent for the Dallas HUD Metro FMR Area is $1,807 for a 2-bedroom home, with the larger home type listed at $2,275. The census median sits above the HUD figure for a 2-bedroom home. HUD's figure is a benchmark for rental assistance, not a market median, and the census rent covers every unit size.

Richardson is roughly an even split between owners and renters: 50.7% of households own. Plano shows 56.9%, and Round Rock 55.5%. McKinney has 63.8% and Allen 69.4%, all higher. Lewisville reports 46.3%. Austin falls to 43.4%, and Dallas to 42.4%. For a buyer, that suggests a city where renting is as common as owning, rather than a market dominated by owner-occupiers.

Financing: Dallas County lenders reported 15,629 loans in the 2025 HMDA data; the median loan cost there was $8,710. The middle band ran from $5,744 to $12,517. Richardson belongs to the Dallas-Fort Worth-Arlington, TX metro area, ranked 4th nationally with 8,344,032 residents. The city counts 118,221 people across 2 counties, so the county loan data covers part of its housing market and not all of it. Ask a lender for a written estimate, and compare it with the county tax bill before settling on a budget. Because owners and renters are so evenly balanced, Richardson also gives a buyer a realistic sense of what the rental alternative looks like next door.

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 Richardson

How much is property tax in Richardson?

Homeowners in Dallas County pay a median $4,798 a year in property tax, 1.58% of the county median home value of $303,000 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Richardson?

Home-purchase mortgages in Dallas County carried median total loan costs of $8,710 in 2025; half of the 15,629 loans fell between $5,744 and $12,517 (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 Richardson?

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 Richardson?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Richardson ($431,400) equals 19.4 years of the median gross rent ($1,857 a month), both from Census ACS 2020-2024.

What natural hazards affect home insurance in Richardson?

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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Sources

Texas · All states · Federal guides