Crane County, Texas Housing Market Prices
Crane County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 79% below the Texas median Cheaper than 89% of counties in Texas$55,000
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Median rent 37% below the Texas median$881
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Crane County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $55,000 | $258,873 | $248,835 |
| Price Trend (Annual %) | — | 9.2% | 7.5% |
| Median Gross Rent | $881 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 3.2% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Crane County is about 79% lower than in Texas. Rent is about 37% lower than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2024
Median Rent Prices, 2015-2024
Median rent in Crane County rose about 35.6% between 2015 and 2024, from $650 to $881. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 0.9 yearly household incomes in Crane County.
Buying the median-priced home in Crane County costs roughly 5.2 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 Crane County. The price-to-rent ratio in Texas is about 15.4.
| Metric | Crane County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $55,000 | $258,873 | $248,835 |
| Median Household Income | $62,839 | $78,939 | $80,455 |
| Price-to-Income Ratio | 0.9 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Occupancy & Tenure
| Metric | Crane County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 74.3% | 56.7% | 58.5% |
| Rental Rate | 14.4% | 33.9% | 31.2% |
| Vacancy Rate | 11.3% | 9.4% | 10.2% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Crane County has a homeownership rate of 74.3%, higher than the Texas average of 56.7%. Its housing vacancy rate is 11.3%, compared with 9.4% in Texas.
Housing Stock
| Metric | Crane County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.75 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1975 | 1990 | 1978 |
| Median Number of Rooms | 5.4 | 5.4 | 5.5 |
The typical housing unit in Crane County was built around 1975. On average, 2.8 people live in a home with about 5.4 rooms, staying for about 17.0 years on average.
Crane County, TX Housing Compared With Nearby Counties
How Crane County, TX compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Crane County, TX | 4,610 | $55,000 #3/3 | $881 #3/3 | 83.8% #1/3 |
| Ector County, TX | 164,652 | $207,760 | $1,259 | 64.7% |
| Midland County, TX | 174,801 | $75,784 | $1,406 | 67.6% |
Frequently Asked Questions
Common questions about the housing market in Crane County, Texas.
What is the median home price in Crane County, Texas?
The median home price in Crane County, Texas is $55,000, lower than the Texas average of $258,873.
What is the average home price in Crane County, Texas?
The typical home price in Crane County, Texas, reported as the median sale price, is $55,000. 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 Crane County, Texas?
The median gross rent in Crane County, Texas is $881 per month, lower than the Texas average of $1,402.
What was the median gross rent in Crane County in 2020?
In 2020, the median gross rent in Crane County, Texas was $828 per month.
What is the price-to-rent ratio in Crane County, Texas?
The price-to-rent ratio in Crane County, Texas is about 5.2, meaning it would take roughly 5.2 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 Crane County.
What is the homeownership rate in Crane County, Texas?
74.3% of households in Crane County, Texas own their home, higher than the Texas average of 56.7%.
What is the vacancy rate in Crane County, Texas?
The housing vacancy rate in Crane County, Texas is 11.3%, higher than the Texas average of 9.4%.
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