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 | Coleman County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $86,153 | $248,418 | $242,182 |
| Price Trend (Annual %) | 10.8% | 9.9% | 8.2% |
| Median Gross Rent | $714 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 2.6% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Coleman County is about 65% lower than in Texas. Rent is about 47% 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 Coleman County, up about 10.8% and 2.6% a year respectively. Home prices are changing faster.
Median rent in Coleman County rose about 35.1% between 2015 and 2023, from $528 to $714. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Coleman County.
Buying the median-priced home in Coleman County costs roughly 10.1 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 Coleman County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Coleman County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $86,153 | $248,418 | $242,182 |
| Median Household Income | $53,123 | $76,510 | $78,145 |
| Price-to-Income Ratio | 1.6 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Coleman County rose about 16.9%, while median household income rose about 93.6% 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 | Coleman County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.7% | 56.5% | 58.2% |
| Rental Rate | 15.2% | 33.8% | 31.3% |
| Vacancy Rate | 34.1% | 9.6% | 10.6% |
| Median Tenure (years) | 18.0 | 14.0 | 15.0 |
| Median Year Moved In | 2008 | 2012 | 2011 |
Coleman County has a homeownership rate of 50.7%, lower than the Texas average of 56.5%. Its housing vacancy rate is 34.1%, compared with 9.6% in Texas.
Housing Stock
| Metric | Coleman County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1971 | 1989 | 1978 |
| Median Number of Rooms | 5.4 | 5.4 | 5.5 |
The typical housing unit in Coleman County was built around 1971. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Coleman County, Texas.
What is the median home price in Coleman County, Texas?
The median home price in Coleman County, Texas is $86,153, lower than the Texas average of $248,418.
What is the average home price in Coleman 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 Coleman County, Texas?
The median gross rent in Coleman County, Texas is $714 per month, lower than the Texas average of $1,338.
What was the median gross rent in Coleman County in 2020?
In 2020, the median gross rent in Coleman County, Texas was $714 per month.
What is the price-to-rent ratio in Coleman County, Texas?
The price-to-rent ratio in Coleman County, Texas is about 10.1, meaning it would take roughly 10.1 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 Coleman County.
Are home prices or rent rising faster in Coleman County, Texas?
Both home prices and rent are rising in Coleman County, up about 10.8% and 2.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Coleman County, Texas?
50.7% of households in Coleman County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Coleman County, Texas?
The housing vacancy rate in Coleman County, Texas is 34.1%, higher than the Texas average of 9.6%.