Short answer: In Irving, TX, the median home value is $349,800 and the median 3-bedroom rents for $2,123/mo (Census ACS 2024). That's a rent-to-price ratio of 0.61%, so it misses the 1% rule and would place #11 among the 50 largest US rental markets (Irving is the #70 US city by renter households). With 20% down at 7.32%, FirstDoor scores a median-priced home Pass (−$719/mo cash flow).
Key numbers
The 1% rule in Irving
A quick screen many investors start with: is monthly rent at least 1% of the price? In Irving, here's the answer on typical numbers.
Across all rentals (not just 3-bedrooms) the ratio is 0.50%. A home renting for the median 3-bedroom rent would need to cost about $212,000 or less to pass.
A typical Irving home, scored
We took a home at the median value, gave it the median 3-bedroom rent, and ran it through the same math as the FirstDoor calculator: 20% down, a 30-year loan at 7.32%, the city's median tax rate, and standard expense budgets.
| 3-bedroom rent (median) | $2,123 |
| Property tax ($4,706/yr, local median) | −$392 |
| Insurance ($1,750/yr, assumed) | −$146 |
| Vacancy 5% · Maintenance 5% · Management 8% | −$382 |
| Net operating income | $1,203 |
| Mortgage (P&I on $279,840 at 7.32%) | −$1,922 |
| Monthly cash flow | −$719 |
What price works in Irving?
Same rent, different prices. Here's the most you could pay in Irving for each result, keeping the median 3-bedroom rent and local tax rate.
Takeaways
- A 0.61% rent-to-price ratio puts Irving in the middle of the pack (it would place #11 among the 50 largest). Expect to hunt for below-median prices to make the numbers work.
- A median-priced home here would cost you about $719/mo out of pocket after the mortgage and every expense. To break even you'd need to pay about $247,000, 29% below the median.
- Rents are outrunning prices: the median 3-bedroom rent rose 4.6% from 2023 to 2024 while values rose 2.4%. That slowly improves the math for buyers.
- Property taxes are heavy: the median bill is $4,706, about 1.35% of value versus 0.89% nationally. Confirm the bill after purchase, since it can reset.
- Renters are the majority here (64% of households), so the tenant pool is deep.
Frequently asked questions
Does Irving pass the 1% rule?
No, on typical numbers. The median 3-bedroom gross rent is $2,123/mo and the median home value is $349,800 (Census ACS 2024 1-year), a ratio of 0.61%. To pass at that rent, a home would need to cost about $212,000 or less.
What is the typical rent for a 3-bedroom in Irving?
The median gross rent for a 3-bedroom in Irving, TX is $2,123 a month, and $1,734 across all rentals (Census ACS 2024 1-year). Gross rent includes utilities the renter pays, so the landlord's share can be a bit lower. The 3-bedroom median rose 4.6% from 2023.
Can you cash flow a rental in Irving?
At the median price, not easily. With 20% down at 7.32% and realistic expenses, a $349,800 home renting for $2,123 loses about $719/mo. It breaks even at roughly $247,000.
How much cash do you need to buy a typical rental in Irving?
About $80,460: a 20% down payment of $69,960 plus closing costs we assume at 3% ($10,500). Lenders often also want several months of reserves. Investment loans commonly need 15–25% down.
Is Irving a good place to buy a first rental?
FirstDoor scores a median-priced home in Irving as Pass (0 of 8 points). That's a starting point, not a verdict on every listing: neighborhoods vary, and buying below the median changes the math. Run any listing through the free calculator.
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Sources
Data: U.S. Census Bureau, 2024 American Community Survey 1-year estimates (released September 2025); year-over-year changes compare with 2023. Mortgage rate: Freddie Mac PMMS, week of October 22, 2026. Retrieved October 15, 2026. Insurance ($1,750/yr), closing costs (3%), maintenance (5%) and management (8%) are FirstDoor assumptions, not local data. Investment-property loans often price above the PMMS average. Medians describe the whole city, not any one home. Educational content, not financial advice.