YES
On $3,875,000/yr, the typical $232,910 home in El Paso, TX needs $68,785/yr ($1,605/mo). Your gap: +$3,806,215 — housing would be 0.5% of your gross income.
The math
232,910 price − 10% down (23,291) = 209,619 loan
30-yr fixed at 6.49% on 209,619 = 1,324/mo principal+interest
+ 281/mo est. taxes+insurance (1.45%/yr of value — national placeholder)
1,605/mo PITI ÷ 0.28 = 5,732/mo → 68,785/yr required
against Zillow ZHVI 2026-05 and the 6.49% FRED 30-yr rate (2026-06-25).
What salary WOULD clear El Paso, TX?
You need about $68,785/yr for the typical home. On $3,875,000 you already clear it by $3,806,215.