Milam County Entry-Level Homes: Affordability Check

What does it cost to buy an entry-level home in Milam County when the median price sits at $245,000 and mortgage rates are 7.32%? This affordability check examines the bottom quartile of sales over the last six months to see how financing costs affect buyers. ALEX Intelligence analyzed 83 closed sales to identify entry-level activity. The median sale price for these homes is $245,000, with a typical living area of 1,612 square feet. At a 7.32% interest rate on a standard 30-year fixed loan with 20% down, the principal and interest payment on this median price is approximately $1,346 per month. The data shows that 81.9% of these homes sold below their original list price, indicating that buyers still have negotiating leverage even at entry levels. The median days on market for these properties has dropped to 64 days compared to 102 days in the prior six-month period, suggesting faster movement for affordable inventory. While the median price is down 1.5% from the previous six months and 4.3% from the same period last year, the affordability calculation depends heavily on the current rate environment. A 3-2-1 buydown could reduce the initial monthly payment to $972 in the first year, costing roughly $9,108 total, while a 2-1 buydown would cost about $4,620. These tools help bridge the gap between buyer budgets and current financing costs. The analysis is based on Unlock MLS data for Milam County, covering the rolling six months ending September 30, 2026. 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