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 | Coppell | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $438,535 | $248,418 | $242,182 |
| Price Trend (Annual %) | 14.2% | 9.9% | 8.2% |
| Median Gross Rent | $1,818 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 6.0% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Coppell is about 77% higher than in Texas. Rent is about 36% 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 Coppell, up about 14.2% and 6.0% a year respectively. Home prices are changing faster.
Median rent in Coppell rose about 54.6% between 2015 and 2023, from $1,175 to $1,818. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in Coppell.
Buying the median-priced home in Coppell costs roughly 20.1 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 Coppell. The price-to-rent ratio in Texas is about 15.5.
| Metric | Coppell | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $438,535 | $248,418 | $242,182 |
| Median Household Income | $130,062 | $76,510 | $78,145 |
| Price-to-Income Ratio | 3.4 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Coppell rose about 17.7%, while median household income rose about 29.9% 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 | Coppell | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.8% | 56.5% | 58.2% |
| Rental Rate | 33.9% | 33.8% | 31.3% |
| Vacancy Rate | 2.3% | 9.6% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Coppell has a homeownership rate of 63.8%, higher than the Texas average of 56.5%. Its housing vacancy rate is 2.3%, compared with 9.6% in Texas.
Housing Stock
| Metric | Coppell | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.62 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1993 | 1989 | 1978 |
| Median Number of Rooms | 6.4 | 5.4 | 5.5 |
The typical housing unit in Coppell was built around 1993. On average, 2.6 people live in a home with about 6.4 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Coppell, Texas.
What is the median home price in Coppell, Texas?
The median home price in Coppell, Texas is $438,535, higher than the Texas average of $248,418.
What is the average home price in Coppell, 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 Coppell, Texas?
The median gross rent in Coppell, Texas is $1,818 per month, higher than the Texas average of $1,338.
What was the median gross rent in Coppell in 2020?
In 2020, the median gross rent in Coppell, Texas was $1,492 per month.
What is the price-to-rent ratio in Coppell, Texas?
The price-to-rent ratio in Coppell, Texas is about 20.1, meaning it would take roughly 20.1 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 Coppell.
Are home prices or rent rising faster in Coppell, Texas?
Both home prices and rent are rising in Coppell, up about 14.2% and 6.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Coppell, Texas?
63.8% of households in Coppell, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Coppell, Texas?
The housing vacancy rate in Coppell, Texas is 2.3%, lower than the Texas average of 9.6%.