30 years or less

Mortgages are easier to pay off in Houston than any other metro area

Home, suburb, neighborhood, new home, mortgage

The median interest rate for homes in the Houston metro area stands at 6.75 percent.

Whether a homeowner's mortgage is for 15 or 30 years, paying off such a large debt can be an arduous process. But luckily for homeowners living in the Houston area, paying off a mortgage is much easier than nearly every other metro in the country, according to a new report by SmartAsset.

Houston-The Woodlands-Sugar Land earned No. 2 in SmartAsset's new study analyzing the top 40 large U.S. metros where it's easiest to pay off a mortgage. Rankings were determined based on the principal and interest payments for conventional 30-year fixed rate mortgages issued in 2023, relative to the median income of new homeowners.

The only U.S. metro to outperform Houston to claim the No. 1 easiest place to pay off a mortgage is Pittsburgh, Pennsylvania.

According to the study's findings, house payments only represent 17.1 percent of a homeowner's gross pay in Houston. The median property value of a home in the metro is $365,000, while principal and interest payments amount to $1,894 per month. SmartAsset also determined that the median income of new homeowners in Houston-The Woodlands-Sugar Land comes out to $133,000 a year.

Here's how the report broke down the rest of Houston's ranking:

Median loan-to-value: 80 percent
Median interest rate: 6.75 percent
Mortgage amount: $292,000
Number of conventional mortgages issued in 2023: 77,248

The report also reflects on the different life changes that can happen while paying off a house, such as starting a new job, starting a family, or even large economic events.

"After you qualify and buy the home, you could spend 30 years paying off your mortgage loan...So it’s important to have a strong emergency fund to cover unexpected expenses," the report's author wrote. "You may also decide to pay off your mortgage early, even when having the opportunity to invest those extra funds elsewhere."

Elsewhere in Texas, San Antonio-New Braunfels ranked as the No. 5 easiest metro for paying off a mortgage. Austin-Round Rock-Georgetown rounded out the top 10 with the lowest interest rates for new homeowners in 2023, at just 6.5 percent, the report found. Dallas-Fort Worth-Arlington ranked just outside the top 10 as No. 13.

The top 10 U.S. metros where mortgages are easiest to pay off are:

No. 1 – Pittsburgh, Pennsylvania
No. 2 – Houston-The Woodlands-Sugar Land, Texas
No. 3 – Detroit-Warren-Dearborn, Michigan
No. 4 – Cleveland-Elyria, Ohio
No. 5 – San Antonio-New Braunfels, Texas
No. 6 – St. Louis, Missouri-Illiniois
No. 7 – Milwaukee-Waukesha, Wisconsin
No. 8 – Philadelphia-Camden-Wilmington, Pennsylvania-New Jersey-Delaware-Maryland
No. 9 – Cincinnati, Ohio-Kentucky-Indiana
No. 10 – Austin-Round Rock-Georgetown, Texas

The report used data from the Home Mortgage Disclosure Act for 2023, where median loan sizes and median interest rates were used to determine the monthly principal and interest calculator with SmartAsset’s mortgage calculator. This monthly mortgage payment (which excluded PMI, property taxes, and home insurance) was then compared with the median incomes of new homeowners.

The full report and its methodology can be found on smartasset.com.

houston the woodlands sugar land real estate reports smartasset rankings

3-acre Tomball estate with amenities galore to be listed for $5.3 million

Aria Media for Martha Turner Sotheby's International Realty

23227 Brownwood Lane is set on three wooded acres on Tomball is will soon be on the market for $5.3 million

Set behind a private, tree-lined approach lies 23227 Brownwood Lane in Tomball. This English Tudor estate sits on three acres, a secluded escape for the home’s 8,000 square feet of living space. Coming soon to the market for $5.3 million and represented by Rachel Solar of Martha Turner Sotheby's International Realty, it offers unmatched privacy and serenity.

Originally built in 1988, the home seamlessly blends classic Tudor charm with updated finishes and design. Consider the home’s centerpiece, the light-filled kitchen, with high-end appliances, an abundance of cabinetry, and a sizable butlers pantry. An island anchors the space, creating a relaxed gathering spot, and the room gives way to a gorgeous dining room with a dramatic stone fireplace, soaring ceilings, and expansive windows. The elegant living room has its own fireplace, as well as custom millwork, a coffered ceiling, and built-in shelves.

The first-floor primary suite boasts hardwood floors and French doors opening to a patio. The spa-like bath offers custom tilework, an oversized soaking tub, and walk-in shower. Dual walk-in closets have custom cabinets and shelving.

The home has a sunken movie room tucked behind a hidden door, a wood-paneled study, and a second floor game room with built-in bunk beds, study nooks, and an abundance of shelves. The home is designed for entertaining, even as it’s a perfect retreat, set amid beautiful trees and lush grounds, which include a pool and spa.

A garage apartment offers space for guests, or can serve as an in-law residence.

Those who come through the stone-and-iron gate of 23227 Brownwood Lane will be impressed with the home’s rich wood craftsmanship and exquisite details. This forest retreat will certainly be an attractive property for those seeking a home that is welcoming, beautiful, and perfect for living and entertaining.

Aria Media for Martha Turner Sotheby's International Realty

23227 Brownwood Lane is set on three wooded acres on Tomball is will soon be on the market for $5.3 million