Allen, Texas Housing Market Prices
Allen Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 75% above the Texas median$452,628
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Median rent 37% above the Texas median$1,917
Housing Market Overview
| Metric | Allen | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $452,628 | $258,873 | $248,835 |
| Price Trend (Annual %) | 10.8% | 9.2% | 7.5% |
| Median Gross Rent | $1,917 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 5.4% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Allen is about 75% higher than in Texas. Rent is about 37% higher than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Allen, up about 10.8% and 5.4% a year respectively. Home prices are changing faster.
Median rent in Allen rose about 56.4% between 2015 and 2024, from $1,225 to $1,917. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Allen.
Buying the median-priced home in Allen costs roughly 19.7 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 Allen. The price-to-rent ratio in Texas is about 15.4.
| Metric | Allen | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $452,628 | $258,873 | $248,835 |
| Median Household Income | $129,041 | $78,939 | $80,455 |
| Price-to-Income Ratio | 3.5 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Allen rose about 134.9%, while median household income rose about 40.0% between 2009 and 2025 — 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 | Allen | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.8% | 56.7% | 58.5% |
| Rental Rate | 30.1% | 33.9% | 31.2% |
| Vacancy Rate | 5.1% | 9.4% | 10.2% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Allen has a homeownership rate of 64.8%, higher than the Texas average of 56.7%. Its housing vacancy rate is 5.1%, compared with 9.4% in Texas.
Housing Stock
| Metric | Allen | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.91 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 2000 | 1990 | 1978 |
| Median Number of Rooms | 6.8 | 5.4 | 5.5 |
The typical housing unit in Allen was built around 2000. On average, 2.9 people live in a home with about 6.8 rooms, staying for about 12.0 years on average.
Allen, TX Housing Compared With Nearby Cities
How Allen, TX compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Allen, TX | 102,687 | $452,628 #1/3 | $1,917 #1/3 | 68.3% #1/3 |
| McKinney, TX | 200,953 | $414,297 | $1,888 | 63.7% |
| Plano, TX | 290,173 | $451,170 | $1,841 | 56.6% |
Frequently Asked Questions
Common questions about the housing market in Allen, Texas.
What is the median home price in Allen, Texas?
The median home price in Allen, Texas is $452,628, higher than the Texas average of $258,873.
What is the average home price in Allen, Texas?
The typical home price in Allen, Texas, reported as the median sale price, is $452,628. 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 Allen, Texas?
The median gross rent in Allen, Texas is $1,917 per month, higher than the Texas average of $1,402.
What was the median gross rent in Allen in 2020?
In 2020, the median gross rent in Allen, Texas was $1,487 per month.
What is the price-to-rent ratio in Allen, Texas?
The price-to-rent ratio in Allen, Texas is about 19.7, meaning it would take roughly 19.7 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 Allen.
Are home prices or rent rising faster in Allen, Texas?
Both home prices and rent are rising in Allen, up about 10.8% and 5.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Allen, Texas?
64.8% of households in Allen, Texas own their home, higher than the Texas average of 56.7%.
What is the vacancy rate in Allen, Texas?
The housing vacancy rate in Allen, Texas is 5.1%, lower than the Texas average of 9.4%.
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