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.
Housing Market Overview
| Metric | Colleyville | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,630,317 | $248,418 | $242,182 |
| Price Trend (Annual %) | 60.6% | 9.9% | 8.2% |
| Median Gross Rent | $2,243 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 5.5% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Colleyville is about 556% higher than in Texas. Rent is about 68% higher 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 Colleyville, up about 60.6% and 5.5% a year respectively. Home prices are changing faster.
Median rent in Colleyville rose about 43.5% between 2015 and 2023, from $1,563 to $2,243. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 8.7 yearly household incomes in Colleyville.
Buying the median-priced home in Colleyville costs roughly 60.6 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 Colleyville. The price-to-rent ratio in Texas is about 15.5.
| Metric | Colleyville | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,630,317 | $248,418 | $242,182 |
| Median Household Income | $186,874 | $76,510 | $78,145 |
| Price-to-Income Ratio | 8.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Colleyville rose about 166.0%, while median household income rose about 36.0% 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 | Colleyville | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 85.6% | 56.5% | 58.2% |
| Rental Rate | 11.1% | 33.8% | 31.3% |
| Vacancy Rate | 3.2% | 9.6% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Colleyville has a homeownership rate of 85.6%, higher than the Texas average of 56.5%. Its housing vacancy rate is 3.2%, compared with 9.6% in Texas.
Housing Stock
| Metric | Colleyville | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.78 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1996 | 1989 | 1978 |
| Median Number of Rooms | 8.2 | 5.4 | 5.5 |
The typical housing unit in Colleyville was built around 1996. On average, 2.8 people live in a home with about 8.2 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Colleyville, Texas.
What is the median home price in Colleyville, Texas?
The median home price in Colleyville, Texas is $1,630,317, higher than the Texas average of $248,418.
What is the average home price in Colleyville, 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 Colleyville, Texas?
The median gross rent in Colleyville, Texas is $2,243 per month, higher than the Texas average of $1,338.
What was the median gross rent in Colleyville in 2020?
In 2020, the median gross rent in Colleyville, Texas was $1,809 per month.
What is the price-to-rent ratio in Colleyville, Texas?
The price-to-rent ratio in Colleyville, Texas is about 60.6, meaning it would take roughly 60.6 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 Colleyville.
Are home prices or rent rising faster in Colleyville, Texas?
Both home prices and rent are rising in Colleyville, up about 60.6% and 5.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Colleyville, Texas?
85.6% of households in Colleyville, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Colleyville, Texas?
The housing vacancy rate in Colleyville, Texas is 3.2%, lower than the Texas average of 9.6%.