Let Me Do the Math
What could your rent buy in the RGV?
I'm a math teacher and a REALTOR®, so I ran the real numbers: rate, property taxes, insurance and FHA mortgage insurance, all in. Find your rent below and see the home price that same monthly amount could cover in McAllen right now.
| Your rent | Home price it could cover | Down payment (3.5%) | Est. monthly payment | Year one, before homestead |
|---|
| $1,000 | $105,000 | $3,675 | $972 | $1,054 |
| $1,200 | $125,000 | $4,375 | $1,157 | $1,254 |
| $1,400 | $150,000 | $5,250 | $1,396 | $1,505 |
| $1,600 | $170,000 | $5,950 | $1,597 | $1,706 |
| $1,800 | $190,000 | $6,650 | $1,798 | $1,907 |
| $2,000 | $210,000 | $7,350 | $1,998 | $2,107 |
Example numbers as of October 29, 2026: FHA loan, 3.5% down, 30 years at 7.24% (Freddie Mac weekly average), McAllen tax rates with the homestead exemption, insurance at about 1.2% of the price per year, FHA mortgage insurance at 0.55% per year. Not a loan offer. Your rate, taxes and insurance will be different, which is exactly why it's worth running your own.
Want your exact numbers?
Tell me your rent, your budget and the area you like. I'll send back your own breakdown: payment, cash to close, and the homes that fit. No pressure, just the math.
Try the payment calculator
Or call or text 956-862-1556, or DM MATH to @martinezrgvhomes on Instagram.
How I figured it
What's in the monthly payment
Principal and interest on the loan, property taxes, homeowners insurance and FHA mortgage insurance. HOA dues aren't included; many RGV neighborhoods don't have them, but some do.
Why year one costs more
Your homestead exemption usually doesn't apply until the tax year after you buy, so your first year's escrow is based on the full taxable value. Once it kicks in, your payment drops.
What about the 5-year picture?
At $1,400 a month, a renter pays about $84,000 over five years and ends with no equity. A buyer paying about the same ends with roughly $11,000 in equity from the down payment and principal paid down, and that assumes the home doesn't gain any value at all.
Below are homes for sale in Hidalgo County in that $100K to $220K range. Save any that catch your eye and I'll run the numbers on that exact house.
Luciano Martinez · REALTOR® · RE/MAX Platinum · 1200 Auburn Ave Ste 285, McAllen, TX 78504
