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 | Collin County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $426,927 | $248,418 | $242,182 |
| Price Trend (Annual %) | 8.1% | 9.9% | 8.2% |
| Median Gross Rent | $1,791 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 6.3% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Collin County is about 72% higher than in Texas. Rent is about 34% 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 Collin County, up about 8.1% and 6.3% a year respectively. Home prices are changing faster.
Median rent in Collin County rose about 60.1% between 2015 and 2023, from $1,119 to $1,791. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 3.6 yearly household incomes in Collin County.
Buying the median-priced home in Collin County costs roughly 19.9 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Collin County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Collin County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $426,927 | $248,418 | $242,182 |
| Median Household Income | $117,425 | $76,510 | $78,145 |
| Price-to-Income Ratio | 3.6 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Collin County rose about 86.5%, while median household income rose about 44.2% 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 | Collin County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.8% | 56.5% | 58.2% |
| Rental Rate | 34.1% | 33.8% | 31.3% |
| Vacancy Rate | 5.2% | 9.6% | 10.6% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Collin County has a homeownership rate of 60.8%, higher than the Texas average of 56.5%. Its housing vacancy rate is 5.2%, compared with 9.6% in Texas.
Housing Stock
| Metric | Collin County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.77 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1999 | 1989 | 1978 |
| Median Number of Rooms | 6.4 | 5.4 | 5.5 |
The typical housing unit in Collin County was built around 1999. On average, 2.8 people live in a home with about 6.4 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Collin County, Texas.
What is the median home price in Collin County, Texas?
The median home price in Collin County, Texas is $426,927, higher than the Texas average of $248,418.
What is the average home price in Collin 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 Collin County, Texas?
The median gross rent in Collin County, Texas is $1,791 per month, higher than the Texas average of $1,338.
What was the median gross rent in Collin County in 2020?
In 2020, the median gross rent in Collin County, Texas was $1,427 per month.
What is the price-to-rent ratio in Collin County, Texas?
The price-to-rent ratio in Collin County, Texas is about 19.9, meaning it would take roughly 19.9 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Collin County.
Are home prices or rent rising faster in Collin County, Texas?
Both home prices and rent are rising in Collin County, up about 8.1% and 6.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Collin County, Texas?
60.8% of households in Collin County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Collin County, Texas?
The housing vacancy rate in Collin County, Texas is 5.2%, lower than the Texas average of 9.6%.