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 | Burnet County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $328,723 | $248,418 | $242,182 |
| Price Trend (Annual %) | 12.3% | 9.9% | 8.2% |
| Median Gross Rent | $1,324 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 7.1% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Burnet County is about 32% higher than in Texas. Rent is about 1% 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 Burnet County, up about 12.3% and 7.1% a year respectively. Home prices are changing faster.
Median rent in Burnet County rose about 56.3% between 2015 and 2023, from $847 to $1,324. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 4.3 yearly household incomes in Burnet County.
Buying the median-priced home in Burnet County costs roughly 20.7 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 Burnet County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Burnet County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $328,723 | $248,418 | $242,182 |
| Median Household Income | $76,987 | $76,510 | $78,145 |
| Price-to-Income Ratio | 4.3 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Burnet County rose about 57.1%, while median household income rose about 64.7% between 2009 and 2023 — 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 | Burnet County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.6% | 56.5% | 58.2% |
| Rental Rate | 18.1% | 33.8% | 31.3% |
| Vacancy Rate | 20.3% | 9.6% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Burnet County has a homeownership rate of 61.6%, higher than the Texas average of 56.5%. Its housing vacancy rate is 20.3%, compared with 9.6% in Texas.
Housing Stock
| Metric | Burnet County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.56 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1993 | 1989 | 1978 |
| Median Number of Rooms | 5.5 | 5.4 | 5.5 |
The typical housing unit in Burnet County was built around 1993. On average, 2.6 people live in a home with about 5.5 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Burnet County, Texas.
What is the median home price in Burnet County, Texas?
The median home price in Burnet County, Texas is $328,723, higher than the Texas average of $248,418.
What is the average home price in Burnet 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 Burnet County, Texas?
The median gross rent in Burnet County, Texas is $1,324 per month, lower than the Texas average of $1,338.
What was the median gross rent in Burnet County in 2020?
In 2020, the median gross rent in Burnet County, Texas was $938 per month.
What is the price-to-rent ratio in Burnet County, Texas?
The price-to-rent ratio in Burnet County, Texas is about 20.7, meaning it would take roughly 20.7 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 Burnet County.
Are home prices or rent rising faster in Burnet County, Texas?
Both home prices and rent are rising in Burnet County, up about 12.3% and 7.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Burnet County, Texas?
61.6% of households in Burnet County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Burnet County, Texas?
The housing vacancy rate in Burnet County, Texas is 20.3%, higher than the Texas average of 9.6%.