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 | Deaf Smith County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $117,456 | $248,418 | $242,182 |
| Price Trend (Annual %) | 16.9% | 9.9% | 8.2% |
| Median Gross Rent | $919 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 3.4% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Deaf Smith County is about 53% lower 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 Deaf Smith County, up about 16.9% and 3.4% a year respectively. Home prices are changing faster.
Median rent in Deaf Smith County rose about 31.5% between 2015 and 2023, from $698 to $919. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Deaf Smith County.
Buying the median-priced home in Deaf Smith County costs roughly 10.7 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 Deaf Smith County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Deaf Smith County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $117,456 | $248,418 | $242,182 |
| Median Household Income | $54,916 | $76,510 | $78,145 |
| Price-to-Income Ratio | 2.1 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Deaf Smith County rose about 112.7%, while median household income rose about 41.9% 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 | Deaf Smith County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.3% | 56.5% | 58.2% |
| Rental Rate | 29.1% | 33.8% | 31.3% |
| Vacancy Rate | 14.6% | 9.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Deaf Smith County has a homeownership rate of 56.3%, about the same as the Texas average of 56.5%. Its housing vacancy rate is 14.6%, compared with 9.6% in Texas.
Housing Stock
| Metric | Deaf Smith County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.06 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1972 | 1989 | 1978 |
| Median Number of Rooms | 5.5 | 5.4 | 5.5 |
The typical housing unit in Deaf Smith County was built around 1972. On average, 3.1 people live in a home with about 5.5 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Deaf Smith County, Texas.
What is the median home price in Deaf Smith County, Texas?
The median home price in Deaf Smith County, Texas is $117,456, lower than the Texas average of $248,418.
What is the average home price in Deaf Smith 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 Deaf Smith County, Texas?
The median gross rent in Deaf Smith County, Texas is $919 per month, lower than the Texas average of $1,338.
What was the median gross rent in Deaf Smith County in 2020?
In 2020, the median gross rent in Deaf Smith County, Texas was $766 per month.
What is the price-to-rent ratio in Deaf Smith County, Texas?
The price-to-rent ratio in Deaf Smith County, Texas is about 10.7, meaning it would take roughly 10.7 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 Deaf Smith County.
Are home prices or rent rising faster in Deaf Smith County, Texas?
Both home prices and rent are rising in Deaf Smith County, up about 16.9% and 3.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Deaf Smith County, Texas?
56.3% of households in Deaf Smith County, Texas own their home, about the same as the Texas average.
What is the vacancy rate in Deaf Smith County, Texas?
The housing vacancy rate in Deaf Smith County, Texas is 14.6%, higher than the Texas average of 9.6%.