Amarillo, Texas Housing Market Prices
Amarillo 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 48% below the Texas median$134,384
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Median rent 23% below the Texas median$1,072
Housing Market Overview
| Metric | Amarillo | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $134,384 | $258,873 | $248,835 |
| Price Trend (Annual %) | 1.8% | 9.2% | 7.5% |
| Median Gross Rent | $1,072 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 4.3% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Amarillo is about 48% lower than in Texas. Rent is about 23% lower 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 Amarillo, up about 1.8% and 4.3% a year respectively. Rent is changing faster.
Median rent in Amarillo rose about 42.3% between 2015 and 2024, from $754 to $1,072. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Amarillo.
Buying the median-priced home in Amarillo costs roughly 10.4 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Amarillo. The price-to-rent ratio in Texas is about 15.4.
| Metric | Amarillo | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $134,384 | $258,873 | $248,835 |
| Median Household Income | $64,083 | $78,939 | $80,455 |
| Price-to-Income Ratio | 2.1 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Amarillo rose about 14.1%, while median household income rose about 48.0% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Amarillo | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.1% | 56.7% | 58.5% |
| Rental Rate | 35.9% | 33.9% | 31.2% |
| Vacancy Rate | 11.0% | 9.4% | 10.2% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Amarillo has a homeownership rate of 53.1%, lower than the Texas average of 56.7%. Its housing vacancy rate is 11.0%, compared with 9.4% in Texas.
Housing Stock
| Metric | Amarillo | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1973 | 1990 | 1978 |
| Median Number of Rooms | 5.2 | 5.4 | 5.5 |
The typical housing unit in Amarillo was built around 1973. On average, 2.5 people live in a home with about 5.2 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Amarillo, Texas.
What is the median home price in Amarillo, Texas?
The median home price in Amarillo, Texas is $134,384, lower than the Texas average of $258,873.
What is the average home price in Amarillo, Texas?
The typical home price in Amarillo, Texas, reported as the median sale price, is $134,384. 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 Amarillo, Texas?
The median gross rent in Amarillo, Texas is $1,072 per month, lower than the Texas average of $1,402.
What was the median gross rent in Amarillo in 2020?
In 2020, the median gross rent in Amarillo, Texas was $861 per month.
What is the price-to-rent ratio in Amarillo, Texas?
The price-to-rent ratio in Amarillo, Texas is about 10.4, meaning it would take roughly 10.4 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Amarillo.
Are home prices or rent rising faster in Amarillo, Texas?
Both home prices and rent are rising in Amarillo, up about 1.8% and 4.3% a year respectively. Rent is changing faster.
What is the homeownership rate in Amarillo, Texas?
53.1% of households in Amarillo, Texas own their home, lower than the Texas average of 56.7%.
What is the vacancy rate in Amarillo, Texas?
The housing vacancy rate in Amarillo, Texas is 11.0%, higher than the Texas average of 9.4%.
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