Lee County: How Rates and Buydowns Affect Buying Power

What does a 7.32% mortgage rate mean for a buyer in Lee County today? With the median closed sale price at $347,000 across 48 transactions in the rolling six months ending September 30, 2026, monthly payments are higher than in previous years, but strategic buydowns can bridge the gap. ALEX Intelligence modeled the payment impact using a standard 20% down payment on the median price of $347,000 at the current rate of 7.32%. The resulting principal and interest payment is $1,907 per month. To make this more affordable, buyers can purchase a buydown to temporarily lower their interest rate. A 3-2-1 buydown costs a median of $12,924 (3.72% of the price). In the first year, it reduces the rate to 4.32%, lowering the monthly payment to $1,377 and saving $530 per month compared to the standard rate. The second year drops to a lower rate with a $362 monthly savings, and the third year settles at a higher rate for an $185 saving. Alternatively, a 2-1 buydown costs $6,564 (1.89% of the price). This lowers the rate in year one with a $362 monthly savings and in year two with an $185 monthly savings. These figures are ALEX Intelligence estimates based on current market data and are not appraisals. While the median price per square foot has dropped 10.9% compared to last year, the median days on market have increased by 35%, giving buyers more time to evaluate these financing options. The data reflects 48 closed sales in the six-month window, providing a stable baseline for this affordability analysis. Want a closer look? Reply or call George at 713.918.9951 and we'll set up a 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