Lee County: How Rates and Buydowns Shape Buying Power

What does a 7.11% mortgage rate mean for a buyer in Lee County today? With the median closed price at $338,000 across 47 sales in the rolling six months ending October 31, 2026, monthly payments are significantly higher than they were a year ago, even as prices have dipped slightly. A standard 20% down payment on this median home results in a principal and interest payment of $1,819 per month at the current rate. ALEX Intelligence modeled two common buydown structures to show how sellers can improve affordability for buyers. A 3-2-1 buydown costs a median of $12,468 and saves the buyer $511 per month in the first year. A 2-1 buydown costs $6,336 and saves $349 monthly during that first year. These figures assume a median sale price of $338,000 with a 20% down payment. The data shows that while the median price per square foot has risen 7.8% compared to the prior six-month period, it remains 11.5% below last year's levels. The market is also seeing homes sell for 93.3% of their original list price on average. For buyers, these buydowns can bridge the gap between current rates and what they might have paid previously, effectively lowering the cost of entry without changing the home price itself. https://alex.realestate 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