Dallas, Texas Housing Market Prices
Dallas 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 60% above the Texas median$413,834
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Median rent 6% above the Texas median$1,482
Housing Market Overview
| Metric | Dallas | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $413,834 | $258,873 | $248,835 |
| Price Trend (Annual %) | 9.2% | 9.2% | 7.5% |
| Median Gross Rent | $1,482 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 6.6% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Dallas is about 60% higher than in Texas. Rent is about 6% higher than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Dallas, up about 9.2% and 6.6% a year respectively. Home prices are changing faster.
Median rent in Dallas rose about 71.1% between 2015 and 2024, from $866 to $1,482. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 5.8 yearly household incomes in Dallas.
Buying the median-priced home in Dallas costs roughly 23.3 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 Dallas. The price-to-rent ratio in Texas is about 15.4.
| Metric | Dallas | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $413,834 | $258,873 | $248,835 |
| Median Household Income | $71,464 | $78,939 | $80,455 |
| Price-to-Income Ratio | 5.8 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Dallas rose about 140.1%, while median household income rose about 64.2% between 2009 and 2025 — 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 | Dallas | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 39.2% | 56.7% | 58.5% |
| Rental Rate | 51.4% | 33.9% | 31.2% |
| Vacancy Rate | 9.4% | 9.4% | 10.2% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Dallas has a homeownership rate of 39.2%, lower than the Texas average of 56.7%. Its housing vacancy rate is 9.4%, compared with 9.4% in Texas.
Housing Stock
| Metric | Dallas | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1981 | 1990 | 1978 |
| Median Number of Rooms | 4.6 | 5.4 | 5.5 |
The typical housing unit in Dallas was built around 1981. On average, 2.4 people live in a home with about 4.6 rooms, staying for about 12.0 years on average.
Dallas, TX Housing Compared With Nearby Cities
How Dallas, TX compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Dallas, TX | 1,350,137 | $413,834 #1/2 | $1,482 #1/2 | 43.3% #2/2 |
| Balch Springs, TX | 32,011 | $305,156 | $1,390 | 67.0% |
Frequently Asked Questions
Common questions about the housing market in Dallas, Texas.
What is the median home price in Dallas, Texas?
The median home price in Dallas, Texas is $413,834, higher than the Texas average of $258,873.
What is the average home price in Dallas, Texas?
The typical home price in Dallas, Texas, reported as the median sale price, is $413,834. 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 Dallas, Texas?
The median gross rent in Dallas, Texas is $1,482 per month, higher than the Texas average of $1,402.
What was the median gross rent in Dallas in 2020?
In 2020, the median gross rent in Dallas, Texas was $1,114 per month.
What is the price-to-rent ratio in Dallas, Texas?
The price-to-rent ratio in Dallas, Texas is about 23.3, meaning it would take roughly 23.3 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 Dallas.
Are home prices or rent rising faster in Dallas, Texas?
Both home prices and rent are rising in Dallas, up about 9.2% and 6.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Dallas, Texas?
39.2% of households in Dallas, Texas own their home, lower than the Texas average of 56.7%.
What is the vacancy rate in Dallas, Texas?
The housing vacancy rate in Dallas, Texas is 9.4%, about the same as the Texas average.
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