Burnet County Entry-Level Homes: Can You Afford One?

Can a buyer afford an entry-level home in Burnet County today? The median price for the bottom quartile of sales is $313,990 across 64 closed transactions in September. At the current mortgage rate of 7.24% from the Freddie Mac Primary Mortgage Market Survey (week of Oct 29), a buyer putting 20% down would face a principal and interest payment of $1,712 per month. ALEX Intelligence calculated this affordability scenario using the median sale price and current market rates to show what monthly payments look like for entry-level buyers. The data shows that while the median price dropped 4.9% from August, it remains 21.5% lower than September of last year. This shift in pricing has altered the landscape for those looking at the most affordable tier of homes. Buyers should also note that new construction plays a significant role in this segment, with 20 new homes closing in the period. For those considering financing incentives, a standard 3-2-1 buydown would cost approximately $11,652 to lower the rate for the first three years, while a 2-1 buydown would cost about $5,916. These figures represent the median costs based on the current price point and do not guarantee specific loan terms. The market remains active with 84 new listings added in September, providing options for those entering the entry-level tier. However, the median living area for these homes has shrunk to 1,702 square feet, down from 1,960 in August, suggesting a shift toward smaller floor plans in this price bracket. https://alex.realestate Want to see this home? Call or text George at 713.918.9951 for a private showing. Data from Unlock MLS. Information deemed reliable but not guaranteed. Model outputs are ALEX Intelligence estimates, not appraisals. Read more Central Texas market data on the ALEX blog: https://alex-companies.com/blog