Should You Buy Now or Wait in Plano, TX?
Pre-filled with Plano's median home price of $520,000, a typical rent of $2,200/month, and a 2% property tax rate. Adjust the rate and price assumptions to see whether buying now or waiting comes out ahead.
Your situation
Negative = you expect prices to fall before you buy.
Waiting comes out ahead over 7 years
By $97,429 in net worth
🏠 Buy now — net worth at year 7
$235,470
⏳ Wait 18mo — net worth at year 7
$332,898
Break-even price
6.8%/yr
Break-even rate
—
Rent while waiting
$40,453
Waiting is ahead by $97,429 at year 7
Waiting ends with $332,898 in net worth — $97,429 more than the alternative — and holds up across a reasonable range of rate and price assumptions. Waiting only pulls ahead if prices move below about 6.8%/yr during the wait.
- ›Shortening the wait from 18 to 6 months cuts the $40,453 of rent you'd otherwise burn before owning.
- ›Waiting only pulls ahead if prices move below about 6.8%/yr during the wait.
⚡ Waiting 18 months means $40,453 paid in rent with no equity to show for it.
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The Plano market and the timing decision
Plano has one of the highest median home prices of any Texas suburb in this list, driven by premium school districts and dense corporate employment. At 2.0% property tax on $520K, the annual tax bill adds roughly $867/month to ownership costs — run the calculator carefully.
Texas has no state income tax, but Plano's property tax rate of 2.0% — typical for Collin County — results in an annual property tax bill of roughly $10,400 on a $520K home. This ongoing carrying cost should be weighed carefully against the income tax saving.
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Educational content only — not financial advice
Local price, rent, and tax figures are estimates for Plano, TX and will differ by neighborhood and property. Future mortgage rates and home prices cannot be predicted. Consult a qualified mortgage, financial, or real estate professional before making a home-purchase decision.