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 | Bowie County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $232,236 | $248,418 | $242,182 |
| Price Trend (Annual %) | 13.0% | 9.9% | 8.2% |
| Median Gross Rent | $965 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 4.3% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bowie County is about 7% lower than in Texas. Rent is about 28% lower than the Texas 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 Bowie County, up about 13.0% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Bowie County rose about 33.9% between 2015 and 2023, from $721 to $965. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Bowie County.
Buying the median-priced home in Bowie County costs roughly 20.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Bowie County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Bowie County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $232,236 | $248,418 | $242,182 |
| Median Household Income | $59,158 | $76,510 | $78,145 |
| Price-to-Income Ratio | 3.9 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bowie County rose about 110.6%, while median household income rose about 45.7% 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 | Bowie County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.8% | 56.5% | 58.2% |
| Rental Rate | 32.6% | 33.8% | 31.3% |
| Vacancy Rate | 12.5% | 9.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Bowie County has a homeownership rate of 54.8%, lower than the Texas average of 56.5%. Its housing vacancy rate is 12.5%, compared with 9.6% in Texas.
Housing Stock
| Metric | Bowie County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.49 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1985 | 1989 | 1978 |
| Median Number of Rooms | 5.3 | 5.4 | 5.5 |
The typical housing unit in Bowie County was built around 1985. On average, 2.5 people live in a home with about 5.3 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bowie County, Texas.
What is the median home price in Bowie County, Texas?
The median home price in Bowie County, Texas is $232,236, lower than the Texas average of $248,418.
What is the average home price in Bowie County, Texas?
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 Bowie County, Texas?
The median gross rent in Bowie County, Texas is $965 per month, lower than the Texas average of $1,338.
What was the median gross rent in Bowie County in 2020?
In 2020, the median gross rent in Bowie County, Texas was $775 per month.
What is the price-to-rent ratio in Bowie County, Texas?
The price-to-rent ratio in Bowie County, Texas is about 20.1, meaning it would take roughly 20.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Bowie County.
Are home prices or rent rising faster in Bowie County, Texas?
Both home prices and rent are rising in Bowie County, up about 13.0% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bowie County, Texas?
54.8% of households in Bowie County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Bowie County, Texas?
The housing vacancy rate in Bowie County, Texas is 12.5%, higher than the Texas average of 9.6%.