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 | Cochran County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $9,285 | $248,418 | $242,182 |
| Price Trend (Annual %) | 9.2% | 9.9% | 8.2% |
| Median Gross Rent | $737 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 7.7% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cochran County is about 96% lower than in Texas. Rent is about 45% 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 Cochran County, up about 9.2% and 7.7% a year respectively. Home prices are changing faster.
Median rent in Cochran County rose about 66.0% between 2015 and 2023, from $444 to $737. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 0.2 yearly household incomes in Cochran County.
Buying the median-priced home in Cochran County costs roughly 1.1 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 Cochran County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Cochran County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $9,285 | $248,418 | $242,182 |
| Median Household Income | $43,397 | $76,510 | $78,145 |
| Price-to-Income Ratio | 0.2 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Cochran County fell about 85.7%, while median household income rose about 24.7% 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 | Cochran County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 49.2% | 56.5% | 58.2% |
| Rental Rate | 26.1% | 33.8% | 31.3% |
| Vacancy Rate | 24.7% | 9.6% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Cochran County has a homeownership rate of 49.2%, lower than the Texas average of 56.5%. Its housing vacancy rate is 24.7%, compared with 9.6% in Texas.
Housing Stock
| Metric | Cochran County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.46 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1969 | 1989 | 1978 |
| Median Number of Rooms | 5.2 | 5.4 | 5.5 |
The typical housing unit in Cochran County was built around 1969. On average, 2.5 people live in a home with about 5.2 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Cochran County, Texas.
What is the median home price in Cochran County, Texas?
The median home price in Cochran County, Texas is $9,285, lower than the Texas average of $248,418.
What is the average home price in Cochran 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 Cochran County, Texas?
The median gross rent in Cochran County, Texas is $737 per month, lower than the Texas average of $1,338.
What was the median gross rent in Cochran County in 2020?
In 2020, the median gross rent in Cochran County, Texas was $710 per month.
What is the price-to-rent ratio in Cochran County, Texas?
The price-to-rent ratio in Cochran County, Texas is about 1.1, meaning it would take roughly 1.1 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 Cochran County.
Are home prices or rent rising faster in Cochran County, Texas?
Both home prices and rent are rising in Cochran County, up about 9.2% and 7.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Cochran County, Texas?
49.2% of households in Cochran County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Cochran County, Texas?
The housing vacancy rate in Cochran County, Texas is 24.7%, higher than the Texas average of 9.6%.