How Much Does a Home Appraisal Cost in Texas?

Whether you’re new to the housing market or buying a second home, it’s easy to get confused with all the lingo. A home inspection and a home appraisal both happen after an offer has been made and accepted. Both involve a professional looking at your prospective home, but they have some key differences.

Think of it this way — the home inspection is for you, the home appraisal is for the bank.

As Richard Stives, a real estate agent in El Paso, Texas, who specializes in first-time homebuyers and relocations, explains, “Most buyers are relying on financing in order to buy a house; their lender is going to require an appraisal to determine the value of the home in relation to what that buyer is willing to pay for it.” In other words, the appraisal helps you secure the mortgage.

Whether you’re buying, selling, or refinancing a home, here’s how much a home appraisal will cost in Texas, and what factors influence the price. We’ll also share expert insights about the appraisal process.

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What is a home appraisal?

A home appraisal is an independent valuation of a home’s worth. Common reasons for needing a home appraised include selling or buying a property, refinancing a home loan, a divorce where the couple is splitting their assets, or an inheritance. Whenever you need to know a home’s true value, you’ll need a home appraisal.

How much does a home appraisal cost in Texas?

The average cost of a home appraisal in Texas will range between $425 and $650.

The cost varies depending on the property’s features and size, such as the number of rooms, square footage, and unique items, like a pool or acreage. All of these factors influence how much time the appraiser spends at the property and the research time needed to determine its value. The cost can also depend on the home’s location.

In the Houston area, for example, you can expect to pay around $425 for a typical 2,000-square-foot single-family home. But in Round Rock, a suburb of Austin, a single-family home appraisal can cost $650.

As you can see, home appraisal prices can vary. To help you determine where your home might fall in this estimate range, let’s take a closer look at the factors that influence the cost of a home appraisal in Texas.

Property type and features

Are you buying a single-family home, a condominium, or a multi-family? Generally, the more bedrooms and bathrooms, the more you’ll pay for an appraisal. It’ll be harder and take longer for an appraiser to find comparable homes (called comps) for a multi-family property.

Mike Lay, an experienced independent home appraiser at Appraisal House Texas in Travis County, says, “The fee for a 1,500-square-foot house in a tract development in a major city is going to be less expensive than an 8,000-square-foot waterfront mansion on 10 acres, or a 40-acre gentleman’s ranch with a main house, guest house, a barn, and two working pump jacks in the middle of West Texas.”

Buying acreage? The bank won’t just use any old appraiser, but one with specialized experience. This will cost you more.

Location (rural vs. urban)

If an appraiser has to drive two hours to reach your ranch, you’ll pay for that time on the road. There’s going to be a difference in price point to get an appraisal on homes in a rural vs. urban setting. It also can be harder for them to find comparable sales outside of a densely populated city.

Seasonal factors

The appraiser examines every part of the property to ensure an accurate valuation. There are times of the year when it’s harder to access areas — like a septic tank covered by snow, or a well they can’t find. If they have to take any special measures to locate and examine a property’s features, the cost will rise.

Extensive damage

Structural damage, storm damage, and any major damage that hasn’t been repaired take longer to assess. The appraiser might have to consider potential repair costs and how they impact the home’s value. They won’t do a full home inspection, but they will look for obvious issues like a cracked foundation, missing roof shingles, and water damage.

Appraiser availability

It takes time to perform an appraisal, sometimes a half day to a day. There are only so many days in the month, or appraisers in your area. Depending on demand — and in a hot market, they’re booked and busy — it can take a while to get an appraiser out to the property.

More demand, lower supply = higher prices. If you need an appraisal in a rush, Stives says that in his area you could pay between $800 to $900.

Loan type

Borrowing over $806,500? That’s the jumbo loan limit in Texas. If you borrow above that limit, the federal government won’t insure the loan. Without a guarantee or insurance, the lender has more risk.

Appraisal fees will likely be higher for a jumbo loan, as the appraiser has to take more time, could struggle to find comparables, and the bank may require a more in-depth look at the property. Expect to see this additional work in your final price tag.

Government-backed loans, such as VA loans or FHA loans, require appraisers to evaluate the property in comparison to their minimum structural and safety items. The VA caps how much an appraiser can charge. While the FHA doesn’t set a limit on fees, they do state that fees must be “customary and reasonable.”