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 | Concho County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $875,000 | $248,418 | $242,182 |
| Price Trend (Annual %) | 58.2% | 9.9% | 8.2% |
| Median Gross Rent | $919 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 6.5% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Concho County is about 252% higher than in Texas. Rent is about 31% 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 Concho County, up about 58.2% and 6.5% a year respectively. Home prices are changing faster.
Median rent in Concho County rose about 54.1% between 2015 and 2023, from $596 to $919. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 14.7 yearly household incomes in Concho County.
Buying the median-priced home in Concho County costs roughly 79.4 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 Concho County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Concho County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $875,000 | $248,418 | $242,182 |
| Median Household Income | $59,560 | $76,510 | $78,145 |
| Price-to-Income Ratio | 14.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Concho County rose about 823.0%, while median household income rose about 30.9% 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 | Concho County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 46.5% | 56.5% | 58.2% |
| Rental Rate | 13.3% | 33.8% | 31.3% |
| Vacancy Rate | 40.2% | 9.6% | 10.6% |
| Median Tenure (years) | 18.0 | 14.0 | 15.0 |
| Median Year Moved In | 2008 | 2012 | 2011 |
Concho County has a homeownership rate of 46.5%, lower than the Texas average of 56.5%. Its housing vacancy rate is 40.2%, compared with 9.6% in Texas.
Housing Stock
| Metric | Concho County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.86 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1983 | 1989 | 1978 |
| Median Number of Rooms | 5.1 | 5.4 | 5.5 |
The typical housing unit in Concho County was built around 1983. On average, 2.9 people live in a home with about 5.1 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Concho County, Texas.
What is the median home price in Concho County, Texas?
The median home price in Concho County, Texas is $875,000, higher than the Texas average of $248,418.
What is the average home price in Concho 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 Concho County, Texas?
The median gross rent in Concho County, Texas is $919 per month, lower than the Texas average of $1,338.
What was the median gross rent in Concho County in 2020?
In 2020, the median gross rent in Concho County, Texas was $633 per month.
What is the price-to-rent ratio in Concho County, Texas?
The price-to-rent ratio in Concho County, Texas is about 79.4, meaning it would take roughly 79.4 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 Concho County.
Are home prices or rent rising faster in Concho County, Texas?
Both home prices and rent are rising in Concho County, up about 58.2% and 6.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Concho County, Texas?
46.5% of households in Concho County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Concho County, Texas?
The housing vacancy rate in Concho County, Texas is 40.2%, higher than the Texas average of 9.6%.