Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Texas County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $216,667 | $127,500 | $242,182 |
| Price Trend (Annual %) | 51.1% | 5.5% | 8.2% |
| Median Gross Rent | $938 | $979 | $1,342 |
| Rent Trend (Annual %) | 5.0% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Texas County is about 70% higher than in Oklahoma. Rent is about 4% lower than the Oklahoma average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Texas County, up about 51.1% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Texas County rose about 37.4% between 2015 and 2023, from $683 to $938. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Texas County.
Buying the median-priced home in Texas County costs roughly 19.2 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Texas County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Texas County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $216,667 | $127,500 | $242,182 |
| Median Household Income | $59,007 | $63,953 | $78,145 |
| Price-to-Income Ratio | 3.7 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Texas County rose about 628.3%, while median household income rose about 41.3% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Texas County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.4% | 57.6% | 58.2% |
| Rental Rate | 24.8% | 29.9% | 31.3% |
| Vacancy Rate | 18.8% | 12.5% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Texas County has a homeownership rate of 56.4%, lower than the Oklahoma average of 57.6%. Its housing vacancy rate is 18.8%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Texas County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.98 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1976 | 1980 | 1978 |
| Median Number of Rooms | 5.8 | 5.5 | 5.5 |
The typical housing unit in Texas County was built around 1976. On average, 3.0 people live in a home with about 5.8 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Texas County, Oklahoma.
What is the median home price in Texas County, Oklahoma?
The median home price in Texas County, Oklahoma is $216,667, higher than the Oklahoma average of $127,500.
What is the average home price in Texas County, Oklahoma?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Texas County, Oklahoma?
The median gross rent in Texas County, Oklahoma is $938 per month, lower than the Oklahoma average of $979.
What was the median gross rent in Texas County in 2020?
In 2020, the median gross rent in Texas County, Oklahoma was $759 per month.
What is the price-to-rent ratio in Texas County, Oklahoma?
The price-to-rent ratio in Texas County, Oklahoma is about 19.2, meaning it would take roughly 19.2 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Texas County.
Are home prices or rent rising faster in Texas County, Oklahoma?
Both home prices and rent are rising in Texas County, up about 51.1% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Texas County, Oklahoma?
56.4% of households in Texas County, Oklahoma own their home, lower than the Oklahoma average of 57.6%.
What is the vacancy rate in Texas County, Oklahoma?
The housing vacancy rate in Texas County, Oklahoma is 18.8%, higher than the Oklahoma average of 12.5%.